Former Portuguese Deputy Prime Minister Paulo Portas stated this Thursday (27), in Maputo, that Mozambique should prioritise political stability and legal certainty as essential conditions to attract foreign investment, warning that investors “run a mile” from instability.
Portas spoke during an economic conference held as part of the 30th-anniversary celebrations of Millennium bim, one of the country’s leading commercial banks. On the occasion, he emphasised that stability is one of the “two essential conditions” to ensure the confidence of international investors.
“Investors run a mile from instability, so protect political stability with dialogue and commitment,” urged the former statesman, who also served as Portugal’s Foreign Minister.
The second condition, he continued, is legal certainty, which he considers fundamental for predictable decision-making, contract protection, and institutional efficiency.
During his intervention, Portas highlighted the growing role Africa — and particularly Mozambique — can play in the new global economic order. “Africa has two of the things the world will need most in the coming years: energy and food supply capacity,” he noted.
According to the Portuguese politician, the African continent has the natural and demographic conditions to establish itself as a strategic food supplier in a world of rapidly growing population. “We will need food suppliers, and I don’t see major suppliers outside of Africa, Brazil, and Australia. The rest either have ice or lack sustainable land,” he pointed out.
Portas also acknowledged that Mozambique possesses significant natural wealth, not only in fossil fuels but also in renewable energy. “Beyond its abundance of traditional energy, Africa is extremely rich in renewable energies,” he said, adding that the continent has become “a lesson in youth” for the world.
The conference took place at a time when Mozambique’s financial sector is seeking to consolidate its modernisation and improve inclusion rates, in a regional context marked by economic and geopolitical challenges.
About the Event
The “Visão M – Millennium bim Economic Conference” celebrated the bank’s 30 years of activity, bringing together public and private decision-makers to discuss the country’s economic future. The event was attended by the President of the Republic, Daniel Chapo, banking leaders, and international representatives, reaffirming Millennium bim’s central role in Mozambique’s financial system.
The meeting addressed topics such as economic diversification, financial inclusion, and digital transformation, highlighting the importance of collaboration between traditional banks, fintechs, and the government to modernise financial services and promote sustainable development in Mozambique.
Millennium bim, majority-owned by BCP Africa (66.69%), recorded a 48.3% drop in profits in the first half of 2025, falling from 3.2 billion meticais (49.5 million dollars) in 2024 to 1.7 billion meticais (25.6 million dollars). Despite the decrease, the bank continues to play a key role in Mozambique’s financial sector.
Source: Diário Económico
