The issue of approving a specific law on Local Content continues to raise debate in different sectors. Recently, the Local Content Association of Mozambique (ACLM) considered the creation of a law to be premature , claiming that the country still doesn’t have enough experience in the field of natural resource exploitation.
However, the public sector argues the opposite, saying that the existence of a legal provision on the matter will allow for greater inclusion of services, goods, labour and local companies in the major projects underway in various parts of the country.
Speaking during a seminar in Maputo, the Commercial and Marketing Director of the Mozambican Insurance Company (EMOSE), Joaquim Lehener, said that the National Content law is lacking in Mozambique, stressing that it is important for it to be approved as soon as possible, so that it protects the national business community and boosts the economy.
‘We see that the insurance for the big investments underway is made outside the country, so we want greater inclusion to broaden our tax base and for the necessary incentives to be created,’ he argued.
He emphasised that national insurers have the capacity to respond to demands and insure any investment, stressing the existence of entities that already have contracts with various projects.
The insurance market in Mozambique has around 20 authorised companies and has been led for over 40 years by EMOSE, which was created two years after national independence through the nationalisation and merger of the Lusitânia, Tranquilidade de Moçambique and Nauticus insurance companies.
