According to figures released earlier this month by the Confederation of Mozambican Business Associations (CTA), the country’s private sector lost about 122 million Euros due to attacks in March in the town of Palma, in Cabo Delgado, in the north of the country.
The violence added to the suspension of the mega-project of the French oil company Total in the region, also put a brake on the expectations of local companies that wanted to have their share of the profit to be generated by gas exploration and conditioning in Cabo Delgado.
Companies that saw their contracts with Total cancelled are now in a difficult situation, with unfulfilled obligations and no immediate prospect of revenue.
This is the scenario drawn by two businessmen from Cabo Delgado, Yacub Latif who works in the poultry industry and Luís Augusto who runs an agribusiness company. Both are linked to the CTA.
Both also consider that the development of projects such as Total’s can only be done by associating local companies to the process.
