Written by Boaventura Mandlate
Translated by Francisco Chuquela
The CEO of Moza, João Figueiredo, advises caution regarding economic and financial expectations for 2018.
Interviewed by “The Economic Country for Portugal, João Figueiredo recalls that Mozambique has achieved in recent years the status of one of the economies with the highest growth rates in the world.
However, in 2016, the country experienced a slowdown in economic growth and the deterioration of the main macroeconomic indicators, with a direct impact on the lives of companies and individuals.
The country’s economic and financial environment affected the performance of the banking sector in some way, reflecting the slowdown in the growth of deposits and credit to the economy.
“However, in recent months we have witnessed strong signs of stabilization and economic recovery, although some risks still prevail. For these reasons, I remain optimistic about the macroeconomic and financial performance in 2018, in which I expect to resume the growth levels before the 2016 slowdown,” said the CEO of Moza.
According to João Figueiredo, this optimism is supported by the fact that production in the mining sector is expected to increase as a result of improved logistical conditions and the entry of new operators into the gas sector with enormous potential to boost economic growth.
Although investment decisions are strongly influenced by domestic and international constraints, João Figueiredo has a strong expectation that the flow of investment, especially in sectors in which Mozambique has competitive advantages, will be realized.
Figueiredo recalls that Mozambique is a Country of Opportunities. Its strategic location allows easy access to other markets in the Southern Africa region as well as to major international markets.
He exemplified the extensive arable land, a huge coastline with more than 2800 kilometers, natural resources, and an enviable energetic and touristic potential.
“Considering that the prospects for global economic growth are an opportunity for increasing the production and exports of the national economy, surely the investments allied to these sectors should be realized and, thus, they will boost the growth and economic development of Mozambique,” predicts the CEO of Moza.
To a question about the relations between Maputo and Lisbon, João Figueiredo noted that Portugal is indeed a historical and strategic partner of cooperation with Mozambique, with trade flows between the two countries evolving over time.
For João Figueiredo, it is desirable that this bilateral relationship continue to make progress, identify and explore new opportunities in order to maximize the advantages for both countries.
“I believe that the increased aggressiveness of the business community of the two countries, some institutional reforms where necessary, and an ever-increasing involvement of the chamber of commerce and investment promotion agencies and international trade can help deepen the economic and business relationship between Mozambique and Portugal “. (x)