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World Bank Highlights Mozambique’s Role in Southern Africa’s Energy Sector

World Bank Highlights Mozambique’s Role in Southern Africa’s Energy Sector

The President of the World Bank (WB), Ajay Banga, on Tuesday (16) highlighted Mozambique’s role as the base of the electricity market in southern Africa, and promised new partnerships to boost the country’s energy sector.

Speaking to journalists after a meeting in Washington, United States of America (USA), with the Mozambican President, Filipe Nyusi, the official emphasised that not only has Mozambican access to electricity improved domestically, but it is also tending to become a base for the energy market in the region, which is an excellent step towards development.

Banga clarified that there are still many actions that the government and the private sector can take together, so that the gains are maximised and benefit everyone.

“We had a good discussion about the work that is being done – the results of the economic development that Mozambique is trying to achieve and the improvement in economic growth and inflation. But the most important thing is that we discussed the opportunity for young people and their future,” he emphasised.

He considered that the tourism and infrastructure sectors have the potential to contribute to the creation of more jobs for young people, as long as they are aligned.

In 2023, the WB approved a credit of 300 million dollars for “Mais Oportunidades”, a project for access to finance and economic opportunities in Mozambique financed by the group’s International Development Association.

According to information from the world organisation, “the project is expected to help create more than 26,000 new jobs over six years,” by 2029.

Filipe Nyusi is in Washington to take part in an international conference on the Miombo forest. The event is organised by the International Conservation Caucus Foundation (ICCF) and the Wildlife Conservation Society (WCS), in partnership with the Government of Mozambique.

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