africa Economy FDI Finance industry and commerce Infrastructure Mozambique

South African groups invest in retail in Mozambique

South African company African Property Investimentos Lda plans to invest about US$60mn in construction of a shopping centre in the city of Nampula, capital of the province of the same name in northern Mozambique, under an MoU signed

The memorandum, signed by representatives of the company and the Municipal Council of the city of Nampula, also includes redevelopment of the former Nampula Agro-Industrial Fair, and African Property Investimentos Lda will be responsible for paying compensation to traders who currently work in the area.

The shopping centre will have parking, banks, restaurants and clothing stores and other facilities, according to Mozambican news agency AIM.

In the city of Tete, South African group Shoprite opened its second shopping centre, after opening its first about seven months before.

The governor of Tete, Paul Aude, said at the time he wanted to see local agricultural products on the shelves of this new shopping centre, “in order to encourage farmers and business links.”

Source: African Review

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