Written by Daniel Maposse
Translated by Francisco Chuquela
The Republic of Mozambique, a country strategically located on the east coast of Africa and, judging by the volume of discoveries of mineral resources in its subsoil, is a floating platform above an enviable volume of wealth.
Several economic analysts, through various platforms, and depending on the circumstances, have been cyclically predicting various economic scenarios for the country.
At the political level, as electoral moments approach, some circles complain that the country has been independent for 43 years and that “age” does not reflect the current stage of development.
If it is true that the country has been independent for 43 years, it is neither fair nor honest the analysis according to which the current stage of development does not correspond because, two years after independence, Mozambique experienced a devastating war for 16 years, which means that it was necessary to subtract little more than 16 years in order to have the time actually worked for development.
After a lot of work towards the country’s effective pacification, even before starting the production and export of gas reserves of planetary size that the country has, with a cut of foreign aid and electoral expenses to the mixture, the country is advancing, in firm steps towards economic self-determination.
This promising path that the country is treading is part of the sensitivity of the Mozambicans, led by the President of the Republic, Filipe Jacinto Nyusi, who, tirelessly, even faced with the verbal and violent warmongering of his main partner for the achievement of peace now, Lieutenant-General Ossufo Momade, has been doing his part to ensure that Mozambique is a country that is definitely at peace and therefore prosperous.
Mozambique has got reserves of at least 160 trillion cubic feet of gas, catapulting the country to the most promising podium, along with Australia and Qatar, which also has the advantage of proximity to the Asian market.
The Area 1 consortium is led by US-based Anadarko and has identified large quantities of natural gas, such as the consortium led by Italy’s ENI, which operates the Area 4 and which includes Portugal’s Galp.
Exxon bought 25 percent of Eni East Africa in March and experts from the economic analysis unit of the British magazine The Economist said at the time that the US oil company’s involvement “increases confidence” in gas exploration in Mozambique.
Mozambique’s economy is expected to grow at a rate of 11.1 percent by 2023, by which time the exploration of natural gas deposits in the north of the country is expected to have begun, according to the latest forecasts by the International Monetary Fund.
The World Economic Outlook for the Autumn, now disclosed, indicates that the Mozambican economy is expected to grow at rates of 3.5% and 4.0% in 2018 and 2019, respectively, to reach four years later two digits.
As we mentioned, the American and Italian groups Anadarko Petroleum and ENI discovered large natural gas reserves in two blocks of the Rovuma basin, northern Mozambique, the latter group being closer to starting the exploration having the partners approved the final investment decision.
These data place Mozambique on the accelerated development path at Africa and beyond. And the realization of the dream of this country to become economically independent depends to a great extent on the discipline of Mozambicans in the preservation of peace and cultivation of the spirit of tolerance and dialogue because stability is fundamental for a very powerful economic flight because the economy itself is highly promising and has many levers such as agriculture, tourism, fishing and others.