Mozambique's economic week was defined by three major developments: ambitious projections for natural gas investment, commercial targets set for the 61st edition of the Maputo International Trade Fair (FACIM 2026), and an unexpected leadership change at the Bank of Mozambique (BdM). Together, these events reflect the country's drive to attract investment, diversify its economy, and grow exports — while underlining the importance of financial and monetary stability.
President Daniel Chapo announced that Mozambique could receive between $50 billion and $60 billion in investment in the natural gas industry over the next five to ten years. The projection was made at the opening of FACIM 2026 and is tied to progress on the main projects planned for the Rovuma Basin. If realised, the volume of expected capital would place the sector among the country's primary investment drivers.
According to President Chapo, the two Eni-led projects are expected to represent approximately $15 billion, while the TotalEnergies-led project would involve a comparable amount. These could be joined by ExxonMobil's project, valued at around $20 billion, with the government expecting the oil major to take its Final Investment Decision before the end of this year.
The head of state cautioned, however, that gas exploitation should not be limited to raw material exports. The government intends to channel sector revenues into agriculture, industry, energy, tourism, mining, digital transformation, and infrastructure. The stated objective is to use gas as a source of financing for economic diversification and job creation.
In that context, the president also stressed the need to expand the participation of domestic companies in large investment projects. The goal is to allow micro, small, and medium enterprises (MSMEs) to integrate into supply chains, scale up productive capacity, and access external markets. For the government, exploitation of gas and other natural resources should generate greater value added within Mozambique.
FACIM targets $7.5bn in business and exports
The investment projections for gas coincide with the targets set by the organisers of FACIM 2026, who are aiming for at least $7.5 billion in business and export deals. The figure is benchmarked against recent external trade performance: in 2025, Mozambique exported approximately $7.5 billion in goods and services, while imports stood at close to $7 billion.
For 2026, organisers project exports to remain around the $7.5 billion mark. In the first half of the year, the country exported approximately $3.5 billion — a result that, according to the organisation, could allow the annual target to be met or exceeded. Agricultural output, traditional commodities, and growth in the services sector are expected to contribute to this performance.
Against this backdrop, FACIM is seeking to consolidate its role as a business platform rather than a purely exhibitory event. This year's edition brings together around 2,300 domestic companies and approximately 600 foreign firms from 29 countries. Participation of enterprises from all 11 of Mozambique's provinces is intended to bring together producers, investors, buyers, and international partners.
The foreign contingent includes companies from Europe, Asia, Latin America, North America, and the Middle East, reflecting sustained interest in Mozambican investment opportunities. Although the number of domestic participants fell short of an initial target of 2,500 companies, organisers described overall attendance as positive. The central challenge now is to convert participation in the fair into contracts, partnerships, investments, and new export opportunities.
BdM changes governor within 24 hours
The week's biggest surprise in the financial sector was the abrupt change in leadership at the Bank of Mozambique. On the night of 31 August, the Presidency announced the appointment of Waldemar Fernando de Sousa as governor and Felisberto Dinis Navalha as deputy governor, with an inauguration ceremony initially scheduled for the morning of 1 September.
The ceremony was subsequently postponed to 2 September, and within hours the Presidency announced the revocation of both decrees. The decision was attributed to 'supervening circumstances', with no specific reasons disclosed. Under the revised arrangement, Felisberto Dinis Navalha was appointed governor, while Benedita Maria Guimino was named deputy governor.
The reshuffle placed Felisberto Dinis Navalha at the helm of the central bank, replacing the arrangement announced less than 24 hours earlier. Benedita Maria Guimino, who was already a member of the bank's board of directors, assumes the deputy governorship. The change comes at a time when monetary policy and financial stability are considered critical to sustaining Mozambique's economic recovery.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=537305
