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African Business 2020 edition

  • Text
  • Agenda
  • Business
  • Invest
  • Union
  • Industry
  • Sustainable
  • Development
  • Regions
  • Trends
  • Sectors
  • Afcfta
  • Trade
  • Investment
  • Africa
  • Global
  • Continent
  • Projects
  • Economic
  • Infrastructure
  • Countries
A unique guide to business and investment in Africa. Global Africa Network is proud to launch this inaugural edition of African Business 2020 at a time of energetic planning for a prosperous future for the continent. The African Union’s Agenda 2063 is much more than a document about a hoped-for future, it contains concrete goals and deliverables. The Programme for Infrastructure Development in Africa (PIDA) and the development finance institution, the African Development Bank (AfDB) are already rolling out valuable projects that are changing the reality on the ground in vital areas of the African economy. Perhaps the most significant event of recent times is the signing by African leaders of the African Continental Free Trade Area agreement (AfCFTA) which will bring together all 55 member states of the African Union and cover a market of more than 1.2-billion people. African Business 2020 has articles on all of these recent trends, plus overviews of the key economic sectors and regional and country profiles. In 2019 Ethiopian Prime Minister Abiy Ahmed received the Nobel Peace Prize for peace-making efforts in his region. The economic dividends of peace are beginning to be felt. In 2020 South African President Cyril Ramaphosa assumed the mantle of AU Chairperson. He brings to the role considerable experience in conflict management, constitution-writing and seeking consensus. Global Africa Network is a proudly African company which has been producing region-specific business and investment guides since 2004, including South African Business and Nigerian Business, in addition to its online investment promotion platform www.globalafricanetwork.com

PROFILE Mozambique Huge

PROFILE Mozambique Huge natural gas finds could be transformative. Capital: Maputo Other towns/cities: Matola, Nampula, Beira Population: 27.2-million (2018) GDP: .7-billion (2018) GDP per capita (PPP): 459 Currency: Mozambican Metical Regional Economic Community: Southern African Development Community (SADC) Landmass: 786 380km² Coastline: 2 470km Resources: Coal, titanium, natural gas, hydropower, tantalum, graphite, beryllium, corundum, cotton, cashew nuts, sugarcane, tea, cassava. Main economic sectors: Mining, gas, agriculture. Other sectors: Petroleum products, chemicals, textiles, cement, glass, asbestos, tobacco, food. New sectors for investment: Gas-to-liquids and gas-to-power. Energy, agriculture, logistics and tourism. Key projects: The country is in debt distress and the economy needs to be reformed. Chief exports: Bulk electricity (hydropower), aluminium, prawns, cashews, cotton, sugar, citrus, timber. Top export destinations: India, Netherlands, South Africa. Top import sources: South Africa, China, UAE, India, Portugal. Main imports: Machinery and equipment, vehicles, fuel, chemicals, metal products, textiles, food. Infrastructure: 21 airports with paved runways; pipelines 972km gas, 278km refined products; railways 4 787km (2014); roads 31 083km of which 7 365km paved (2015); seaports: Beira, Maputo, Nacala. ICT: Mobile subscriptions per 100 inhabitants: 45 (2017). Internet percent of population: 17.5% (2016). ICT Development Index 2017 (ITU) ranking: 150. Climate: Tropical and subtropical. Tropical cyclones have hit the country hard in the last decade. Most of the country is coastal lowlands with mountains on the western edge and uplands (middle) and plateaus in the north-west. Religion: Christian and Muslim account for about 80%. Modern history: Bad weather has played a big part in Mozambique’s economic fortunes in recent years. The tropical cyclones Idai and Kenneth led to agricultural production dropping. This, coupled with falling commodity prices, had a dampening effect on the economy. A devastating civil war lasted from independence from Portugal in 1975 to a peace treaty between Frelimo and Renamo in 1992. Frelimo leader Joaquim Chissano’s 18-year stint as president ended in 2004 and two presidents from the same party have been in power since then. Elements of Renamo continued to fight through to recent times. A constitutional amendment giving more power to provinces may prove sufficient to finally end that conflict, but the northern province of Cabo Delgado has been the site of several extremist attacks unrelated to Renamo. The 2011 discovery of vast fields of offshore natural gas has the potential to completely transform the country and massive investment commitments have already been made by international companies. Income from the sale of liquefied natural gas should generate billions of dollars after 2022. AFRICAN BUSINESS 2020 80

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