The Bank of Mozambique (BoM) announced that Foreign Direct Investment (FDI) in the country totalled 650.5 million dollars (41.1 billion meticals) in the first quarter of this year.
‘This volume resulted from shares and participations, worth 51.5 million dollars (3.2 billion meticals), and capital in supplies and commercial credits of 599 million dollars (37.8 billion meticals),’ explained the central bank’s statistical report, released on Tuesday (16) by Lusa.
The BoM recalled that in 2023, FDI in Mozambique totalled 158 billion meticals (2.5 billion dollars), an increase of 2.1% compared to the 151.6 billion meticals (2.4 billion dollars) recorded in 2022.
Meanwhile, by 2024, government projections point to FDI in the country doubling to 4.7 billion dollars, driven by the natural gas exploration business in the Rovuma basin in Cabo Delgado.
‘With regard to FDI for 2024, an improvement is expected, mainly influenced by the resumption of activities by TotalEnergies in the project suspended in 2021 due to the terrorist attacks,’ say the documents supporting the Economic and Social Plan of the State Budget (PESOE).
In the document, the Executive estimates that there will be a notable increase in imports of specialised services by the major projects underway in the country. Also expected is the expansion of production plants for other projects, such as Montepuez Ruby Minning, Hidroeléctrica de Cahora Bassa and Coral Norte FLNG.
