Mozambique’s Minister of Economy and Finance, Max Tonela, held a meeting yesterday in Washington, DC with senior officials from Afreximbank to rally financial support for his country’s private sector.
Speaking during a meeting with Denys Denya, VP of Afreximbank, as part of the World Bank and IMF annual meetings, Mr. Tonela highlighted the financial constraints faced by the business community.
The minister stated that Mozambican micro, small and medium-sized companies need financial strength in order to take advantage of the country’s potential.
The Government, he continued, is committed to the participation of the Mozambican private sector in taking advantage of the existing value chain in the hydrocarbon sector and in other economic areas.
Another area in which the involvement of Afreximbank, an institution linked to the African Development Bank (AfDB), would be important is infrastructure, energy, and agriculture added Max Tonela.
Mr. Tonela is accompanied on his Washington mission by the Governor of the Bank of Mozambique, Rogério Zandamela, and other staff from his ministry.
Mozambique’s economy is expected to expand by 5% this year versus a previous IMF forecast of 2.9%, much due to a better performance from the tourism, extractive, and agriculture industries.
The country is coming back to the world’s investment spotlight as it inches closer to shipping its first gas from ENI’s Coral South Floating LNG.