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Germany to strengthen business ties with Mozambique

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A group of German investors eyeing Mozambique’s budding oil and gas sector are set to visit the southern African country during the first quarter of 2021, as reported on Monday, 5 October 2020.

The investors, falling under the banner of the Germany Africa Business Forum (GABF), said they would embark on a three-day trade mission in March 2021, to promote trade and investment between Mozambique and the European country. The visit would coincide with the Mozambique Gas and Power 2021 Conference and Exhibition, set for 8 and9 March 2021.

According to GABF Executive Chairman, Sebastian Wagner, the aim of the investment mission is to deepen German-Mozambican relationships, in light of Mozambique’s recent discovery of substantial natural gas fields. The fields are largely considered a game-changer for the southern African country.

“Mozambique is a great opportunity for German businesses to invest in gas monetization projects, petrochemicals, power projects, industrialization and immediate diversification of the economy that leads to jobs for the people of Mozambique and Germans alike,” Wagner said.

He said GABF would host a Germany-Mozambique roundtable during the forthcoming conference, at which a number of investment deals are expected to be signed.

Mozambique has announced large findings of natural gas reserves off the coast of its northern most Cabo Delgado province. The discovery of the gas reserves has, however, attracted unwanted visitors in the form of insurgents linked to the Islamic State. The insurgents have killed thousands and displaced tens of thousands more from the province.

-APA

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