Mozambique has been
identified as one of the
continent’s five “sleeping giants”
in the 2015 Barclays Africa
Trade Index.
It defines the “sleeping
giants” as countries which,
“after having gone through a
significant phase of economic
turmoil, are catching up and
registering fast growth”.
Mozambique is ranked 15th
overall in the Barclays Africa
Trade Index, which is led by
South Africa, Nigeria and
Kenya.
The country ranks 12th in
the “opportunity” index, 20th
in terms of economic openness,
and 18th in terms of intra-
African connectivity.
However, the Nacala and
Beira corridors
are cited as
examples of
how southern
African states are
leading the way in
terms of “major planned
multimodal transport
developments”.
The five “sleeping giants”
are Ethiopia, the Democratic
Republic of Congo,
Mozambique, Ghana and
Tanzania.
“Ethiopia, DR Congo,
Tanzania and Nigeria together
with Ghana and Mozambique
lead the way in terms of average
GDP growth over the past five
years,” according to the report.
With a total population of
about 270 million people and
an average annual growth of
7.3% over the last five years,
“these five countries represent a
significant business opportunity
for British exporters in the
coming years.
“By 2020, these five countries
will represent a population
of about 325 million people,
comparable to the United States
population, and with economic
growth rates that were
previously exclusive to India
and China,” writes the director
of the corporate banking
business of Barclays, John
Winter.
“Based on recent estimates,
the expenditure of households
in these countries should almost
double, reaching over a thousand
dollars per year in 2020; brands
that start to settle in now will
be well positioned for a rapid
growth in 2020,” he adds.
Mozambique the ‘sleeping giant’
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