The Bank of Mozambique (BdM) has announced that Foreign Direct Investment (FDI) in Mozambique reached $3.5 billion (221.2 billion meticais) in 2024, representing a 41.6% increase compared to the $2.5 billion (158 billion meticais) recorded in 2023.
In its annual Balance of Payments report, reviewed by Diário Económico, the central bank explains that this positive performance reflects “a growth trend observed over the past five years.”
The financial institution states that the extractive industry “maintained its position as the largest recipient of investment inflows,” receiving $3 billion (189.6 billion meticais), equivalent to 87.2% of total FDI. Meanwhile, the manufacturing sector attracted $134.8 million (8.5 billion meticais), or 3.8% of the total, and the electricity sector received $96.9 million (6.1 billion meticais), around 2.7%.
Previously, the government had estimated that FDI would double in 2024, driven by liquefied natural gas (LNG) exploration projects. Supporting documents for the 2024 Economic and Social Plan and State Budget (PESOE) projected FDI would rise to $4.7 billion—a target that was not met. However, for this year, the government estimates that FDI could grow by over 40%, reaching $5 billion. This forecast is outlined in the 2025 PESOE proposal, recently approved by Parliament.
According to the document prepared by the administration of President Daniel Chapo, who took office in January, the growth in FDI will be “driven by the implementation of structural projects in the Rovuma Basin,” in Cabo Delgado province. These include the resumption of construction on TotalEnergies’ LNG facility and Eni’s second floating platform.
The proposed 2025 Economic and Social Plan and State Budget totals 512.7 billion meticais ($7.9 billion). Among its main macroeconomic assumptions are GDP growth of 2.9% and an average annual inflation rate of around 7%. The plan also forecasts revenues of 385.8 billion meticais ($5.9 billion).
The PESOE is a document that defines the State’s main economic, social, and financial policy objectives, as well as outlining expected revenue, planned actions, and the resources needed for implementation.
Source: DE
