Mozambique gains investment stature

African investors should keep a close watch on Mozambique which is starting to attract more and more attention in sub- Saharan Africa. Whilst it was ranked the 17th most attractive destination for corporate investment by Rand Merchant Bank in its annual “Where to invest survey” in 2014/15, it is gradually making its way to the top 10. According to Celeste Fauconnier, African analyst for RMB, the operating environment in Mozambique remains tricky and has been a big contributor to the country’s current ranking. “But it is the fastest growing market in sub Saharan Africa. The latest oil and gas finds are only going to strengthen the opportunities in this market and we expect that it is going to churn more foreign direct investment into the country,” she told members of the Exporters Club Western Cape (ECWC) recently. “The country has been very focused on coal, but it is changing with the large-scale gas finds. We will probably not see as big an investment into the country as was expected initially due to the drop in the oil price, but we expect to see it move into the top 15 in our next survey, if not the top 10.” CAPTION Celeste Fauconnier... fastest growing market in sub Saharan Africa.