Portuguese businessmen maintain interest in investing in Cabo Delgado

Empresários portugueses mantêm interesse em Investir em Cabo Delgado

The climate of instability present in Cabo Delgado province, in the north of the country, does not change the intentions of Portuguese businessmen to invest in the region, although it is "perfectly normal to reach the conclusion that the situation of insecurity causes difficulties for economic activity".The Portuguese Secretary of State for Foreign Affairs and Cooperation, Francisco André, told Lusa.

"Despite these difficulties, they want to continue working to stay here and trace a path together with the Mozambicans, with whom they live every day, to help the region's economic recovery," he said, adding that Portugal's presence at a time when Mozambique needs it, is a sign of friendship and good cooperation.

"Mozambique is the largest recipient of public development aid from Portugal, which fills us with satisfaction and shows the level of our relationship," said Francisco André, pointing out that, in addition to support for the African country in the face of armed violence in Cabo Delgado, the provision of a batch of 50,000 vaccines for the Mozambican people symbolizes the good relations between the two states.

On his first day in Mozambique, Francisco André accompanied, in Pemba, the arrival of the first of three planes that will guarantee the European Union humanitarian air-bridge to support the populations affected by the armed violence in Cabo Delgado, an initiative coordinated between Portugal and Italy.

Cabo Delgado, a province that was home to the largest private investment in Africa for natural gas exploration led by Total (to the tune of $25 billion), has been plagued by armed attacks since 2017, with some claimed by the rebel group Islamic State.

At the end of April, the Total oil company suspended indefinitely its activity in Mozambique, citing reasons of "force majeure". For many, the project was the hope of seeing Mozambique grow economically in the next decade.

According to information advanced by the president of the Confederation of Economic Associations of Mozambique, Agostinho Vuma, in the second quarter of the year, about 400 companies closed and 56,000 jobs disappeared in the affected districts, registering an impact of 80 million euros. However, the fall in the economy was also registered outside the affected areas, with another 700 closing down and 143,000 peasants leaving the family farming sector.

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