Mozambican and Angolan businesspeople expressed interest on Friday, May 30, in deepening bilateral cooperation in the banking, insurance, and real estate sectors during a meeting held at the headquarters of the Confederation of Economic Associations of Mozambique (CTA) in Maputo. The initiative comes at a time of renewed economic relations between the two Portuguese-speaking African countries, reported the Lusa news agency.
“We have here an interaction of mutual interest and partnership between Angola and Mozambique. This is the first of several visits that will take place regarding the Mozambique-Angola operations in banking and insurance and our ecosystem,” said Sofia Chival, president of Prefira Seguros and a Mozambican resident in Angola for 17 years.
The businesswoman highlighted that there are “many models of cooperation” between the two countries, emphasizing the “very good” relationship that unites them, particularly following the recent visit of the President of the Republic, Daniel Chapo, to Angola. “We have a very good cultural and brotherly relationship. And we came to show that we are also interested in Mozambique, especially regarding investments,” she added.
In addition to banking and insurance, entrepreneurs also showed interest in investing in sectors such as digital technology, renewable energy, mining, and tourism, seeking to explore synergies in areas of strategic growth.
One of the projects under consideration involves the possible entry of Banco Yetu into the national market. The Angolan financial institution is studying the feasibility of establishing operations in the country, which Mozambican entrepreneurs see as an opportunity to expand and diversify the available financial services.
“We believe that the greater the number of banks in our market, the better it will be for clients. Therefore, we need to broaden the base of bank or financial service operations, and the Yetu group has shown itself very willing to explore the Mozambican market,” said Onório Manuel, vice-president of the CTA.
The businessman also added that the Angolan group has particular interest in the Mozambican real estate sector, which is currently affected by a “widespread crisis.” “They also want to look very closely at the real estate area. As you know, we have a widespread crisis in the real estate sector,” he concluded.
Although no concrete investment amounts have been disclosed, the projects are expected to involve tens to hundreds of millions of meticais, given the size of the targeted sectors and the history of Angolan investments in the region.
Source: Diário Económico
