The government said on Thursday, 27 June, that it is necessary to adopt a diversified investment and growth plan to promote a balance in national production, reducing exclusive dependence on the emerging extractive industry.
Speaking at an event in Maputo City, the Prime Minister, Adriano Maleiane, warned of the importance of careful and strategic management of the revenues generated by natural resources, in order to avoid the dangers of an economic “curse”, a phenomenon observed in other parts of the world.
“There must be caution in the exploitation of natural resources to avoid potential economic curses. In Africa there are many resources, but there are adverse factors that can undermine progress,” he explained.
The leader said that the government is working to turn the discovered resources into a “blessing”, which means finding mechanisms to make the resources sustainable for future generations, while also investing in other sectors that are vital to the economy.
“The creation of the Mozambique Sovereign Fund (FSM) is part of the integrated development plan to ensure that future generations also benefit from the resources available in the country. However, it is urgent that we support the agricultural sector through adequate funding, the emergence of institutions and technical conditions prepared to promote this segment,” he emphasised.
Recently, the Ministry of Economy and Finance (MEF) revealed that the annual transfers made by the government to communities affected by the exploitation of mineral resources and hydrocarbons will increase by 32.4 million meticals in 2023.
According to the official report on the General State Account, last year the Executive transferred 77.1 million meticals to these communities, a significant increase compared to the 44.7 million meticals transferred in 2022, representing a growth of 72.5 per cent. In 2021, transfers totalled 73.9 million meticals.
“The village of Benga, located in the Moatize district of Tete province, was one of the most prominent beneficiaries, seeing its revenues increase from 4.9 million meticals in 2022 to 15.3 million meticals in 2023. In Cabo Delgado province, the community of Namanhumbir also saw remarkable growth, going from 11.8 million meticals to 21.4 million. On the other hand, the community of Pande, in Govuro district, Inhambane province, saw its transfers increase from 2.5 million to 7.3 million meticals,” the document said.
The report also noted that, in terms of distribution by province, “Tete stood out with an increase in transfers from 8.1 million meticals in 2022 to 23.8 million meticals in 2023. In Cabo Delgado, transfers rose from 12.3 million meticals to 23.6 million,” pointing out that Maputo province, however, “continues to receive the lowest amounts, with only 500,000 meticals in 2023, compared to 300,000 meticals in 2022.”
This increase in transfers is in line with article 20 of Law No. 20/2014 (Mining Law) and article 48 of Law No. 21/2014 (Petroleum Law), which stipulate the annual return of 2.75 per cent of the Petroleum and Mining Production Tax to communities impacted by extractive industry projects. These figures were calculated on the basis of 2021 revenues, reinforcing the government’s commitment to promoting sustainable development and directly benefiting local communities.
