President Daniel Chapo on Wednesday called on American investors to seize emerging opportunities in Mozambique’s energy, mineral and infrastructure sectors, describing the country as “open for business” and strategically positioned to become a regional energy hub.
Speaking at a private sector roundtable in Washington DC, Chapo highlighted Mozambique’s vast natural resources and development corridors, including the Coral Sul floating liquefied natural gas (FLNG) platform operated by Italy’s ENI, which has been exporting LNG since November 2022.
He also referenced the recent resumption of operations by TotalEnergies in Palma district where a $20 billion LNG project – the largest foreign investment in sub-Saharan Africa – had been suspended since 2021 due to security concerns.
“We are here to invite the entire North American private sector to invest in Mozambique,” Chapo said.
He highlighted the country’s potential in agriculture, tourism and transport, with particular focus on the Nacala rail corridor in northern Mozambique.
Chapo underscored Mozambique’s ambition to become the energy backbone of the southern African, citing regional electricity deficits in neighbouring countries such as Malawi, South Africa and Zimbabwe.
The appeal came on the third day of Chapo’s six-day working visit to the United States, aimed at deepening bilateral cooperation.
Chapo also met with World Bank president Ajay Banga on Wednesday to discuss budgetary support and development financing.
The World Bank reaffirmed its partnership and offered recommendations to strengthen Mozambique’s fiscal resilience.
JN/APA