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Government Defends Bank Support to SMEs for Oil and Gas Exploration

Government Defends Bank Support to SMEs for Oil and Gas Exploration

About four months before the beginning of one of the biggest investments in the country, with the implementation of the newest floating platform for natural gas liquefaction in the Rovuma Basin, the debates about local content are intensifying.

In this regard, the National Petroleum Institute (INP), a government entity, recently argued that the banking sector should create subsidized credit lines so that Small and Medium Enterprises (SMEs) can respond to the opportunities in the oil and gas sector.

According to O País, in recent years alone, the sector has raised about $50 billion and the “appetite” of SMEs for opportunities in the oil and gas industry is growing.

“These are World Bank data of what is direct and foreign investment in the Southern African region. It is notorious that Mozambique has a great advance that if compared to the economies of the region – and this will bring many lessons as also opportunities for change in relation to local content,” explained the INP representative, Natália Camba. The absence of specific legislation to address the necessary investments continues to hinder the participation of the national business community.

Speaking at the Conference and Exhibition on Mining, Oil, Gas and Energy, on Friday, June 3, the INP representative advanced that, in a 20-year horizon, Mozambique may collect, in revenues, up to 100 billion dollars.

Natália Camba also invites the banks to actively finance national companies, so that they are eligible to be part of the natural gas chain.

“Credit is high, so the banks have an important role in this process of access to financing, and there are many options carried out by many entities in which the banks participate, creating some working capital,” clarified the INP representative.

Point out that other requirements were pointed out that undermine the qualification of Mozambican companies in the Oil and Gas circuit, which have to do with organized accounting, insurance and management.

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