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SA urged to invest in Mozambican gas sector

Mozambique presents great opportunities for South African businesses to invest in, says Mozambican Provincial Permanent Secretary of Cabo Delgado Province, Antonio Domingos Mapure.
Photo: Mozambique Mining Journal
The Department of Trade and Industry (dti) is currently leading a business delegation to Mozambique on trade and investment mission to the neighbouring country.

Mapure said the mission, which got underway on Monday, comes at an important time when the province is getting ready to start the 2018-2027 Development Programme which includes investment attraction elements.

The programme aims to attract investments of over $50m in the extraction of gas in the Rovuma basin and as well as the initiation of graphite exploration.

This, he said, presents a huge opportunity for South African businesses.

“South Africa has been a privileged partner of Mozambique for years. Its participation in the agricultural sector is very active, which is a source of interest in this province. Our priority areas are in line with the South African interest to invest in Mozambique and they include tourism, fisheries, human capital, aquaculture, mining and energy,” said Mapure.

South African companies in the electrical and renewable energy, architects and engineering services, built environment, telecommunications, and mining services sector among others are partaking in the investment mission.

Mapure further assured businesses of Mozambique commitment to share business opportunities, create conducive environment for businesses with regards to laws and regulations and to encourage domestic and international investments.

South African High Commissioner to Mozambique, Mandisi Mpahlwa, said South African businesses are aware the world is keenly looking at Cabo Delgado province’s oil and gas exploration.

“The implementation of investments of more than $50m with the exploration of gas in the Rovuma basin present important opportunities for South African companies and we would like to partner with Mozambique and the province as it builds its new future and as it takes advantage of these new opportunities.

“We do believe we can contribute through our quality products, programmes and services and in terms of back-up services much more cheaply and effectively as these major global companies undertake their investments,” said Mpahlwa.

Prior to the start of the week-long mission, Trade and Industry Minister Rob Davies said the mission grants the South African government prospect of continued economic collaboration and partnerships with African countries for the realisation of higher levels of industrialisation through sustainable trade and investment.

Total trade volume in 2017 stood at R51bn and the trade balance between the two countries in 2017 was R26.6bn in favour of South Africa.
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SOURCE

SAnews.gov.za
SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.
Go to: http://www.sanews.gov.za
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