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Mozambique

Country Code: 508 | ISO2 Code: MZ | ISO3 Code: MOZ

Mozambique has a land mass of 799,380km² and the third longest coastline on the Indian Ocean, covering a total distance of 2,700km. It has a population of 33.9 million and a GDP of US$21.9bn.

Mozambique’s GDP growth rose by 4.8% in 2023 and projected 8.3% in 2024, pushed by extractives and agriculture. The fiscal deficit is projected to slightly deteriorate in 2023, to 4% of GDP, impacted by the wage bill, before turning to a deficit 3.6% of GDP in 2024.
Key industries in Mozambique are agriculture, mining extraction, petroleum gas and electricity. The country has large mineral deposits (marble, bentonite, coal, gold, bauxite, granite and gemstones), with aluminium being the most important exported product. Agriculture, hunting, forestry and fishing includes prawns, cotton, cashew nuts, sugar, citrus, copra, coconuts, and timber being the most important crops.

Mozambique is heavily involved in exploration for natural gas. In May 2013, 200 million barrels of commercially viable oil were confirmed at Rovuma Area 2, opening the prospects for oil production. Since 2010, substantial natural gas reserves have been discovered offshore in the Rovuma basin by overseas exploration companies, and mega projects are under development. In 2011, Italy's Eni discovered 425 billion cubic metres (bcm) (15 trillion cubic feet (tcf)) of natural gas. Further discoveries include Mamba (75tcf in 2012), Coral Reservoir (15.65tcf in 2012) and Agulha (7tcf 2013). Area 1 and Area 4 blocks are considered to be two of the most important offshore gas developments on the African continent. Construction spearheaded by Total Energies in Area 1 will see the development of an LNG plant in Afungi, with production originally expected to begin in 2024. But intensifying attacks by Islamic insurgents near the gas site have posed serious challenges to the production timelines, and in April 2021 construction was suspended indefinitely. In Area 4, a joint venture by ExxonMobil (40%), Eni (40%) and China National Petroleum Corporation CNPC (20%), is constructing an LNG plant in the Rovuma basin that will produce 152 million tonnes (Mt) of gas per year. The plant was scheduled to commence production in 2022, but due to the pandemic and security issues in the region for most of 2021, production was rescheduled to start in 2025. Also in Area 4 is the Mamba Complex consisting of three fields (Mamba North, Mamba Northeast and Mamba South), which is being developed by Mozambique Rovuma Venture (with a 70% stake), Portugal's Galp Energia subsidiary Galp Mozambique (10%), South Korea's Korea Gas Corporation (10%) and state-owned ENH (10%). The development consists of 21 subsea wells which are expected to produce 100 million cubic feet (mcf) per day, with production expected in 2024.

Mozambique does not produce any crude oil or have any refining capacity, and it relies on imports to satisfy all its oil product demand. State-owned company Petromoc and its subsidiary Importadora Mosambicana de Petroleos (Imopetro) handle all fuel imports.

The government's actions in the manufacturing sector are being guided by the Ministry of Industry and Commerce's Industrial Policy and Strategy for 2016-2025. The clothing sector is one of several key sectors that the government has identified for support. Clothing and textiles have been identified among a number of local products that can be prioritised by government for procurement.


Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF.

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Sector Research

CompanyName Stock Exchange Listed Date Ticker Code Country Status
2Business S.A. Bolsa de Valores de Mozambique 2019-12-20 2Business Mozambique Active
Arco Investimentos S.A. Bolsa de Valores de Mozambique 2018-12-00 ARCO Mozambique Active
Arko Companhia de Seguros S.A. Bolsa de Valores de Mozambique 2019-10-00 ARKO Mozambique Active
Cervejas de Mocambique S.A. Bolsa de Valores de Mozambique CDM Mozambique Active
Companhia Mozambicana de Hidrocarbonetos S.A. Bolsa de Valores de Mozambique 2008-09-18 CMH Mozambique Active
Empresa Mozambicana de Seguros S.A. Bolsa de Valores de Mozambique 2013-10-28 EMOSE Mozambique Active
Hidroelectrica de Cahora Bassa S.A. Bolsa de Valores de Mozambique 2019-03-17 HCB Mozambique Active
PayTech S.A. Bolsa de Valores de Mozambique 2020-06-00 PAYTECH Mozambique Active
Rede Viaria de Mocambique S.A. Bolsa de Valores de Mozambique 2020-00-00 REVIMO Mozambique Active
Touch Publicidade S.A. Bolsa de Valores de Mozambique 2018-05-27 TOUC Mozambique Active
Tropigalia S.A. Bolsa de Valores de Mozambique 2022-12-28 Tropigalia Mozambique Active
Zero Investimentos S.A. Bolsa de Valores de Mozambique 2017-00-00 ZERO Mozambique Active
The Petroleum Industry in Mozambique 2022

The Petroleum Industry in Mozambique

Full Report R 9 500.00(ZAR) estimated $ 498.27 (USD)*

Industry Landscape R 6 650.00(ZAR) estimated $ 348.79 (USD)*

The Agri-Business Sector in Mozambique 2020

The Agri-Business Sector in Mozambique

Full Report R 1 900.00(ZAR) estimated $ 99.65 (USD)*

Industry Landscape R 1 330.00(ZAR) estimated $ 69.76 (USD)*

The Clothing Industry in Mozambique 2020

The Clothing Industry in Mozambique

Full Report R 1 900.00(ZAR) estimated $ 99.65 (USD)*

Industry Landscape R 1 330.00(ZAR) estimated $ 69.76 (USD)*

The Tobacco Industry in Mozambique 2020

The Tobacco Industry in Mozambique

Full Report R 1 900.00(ZAR) estimated $ 99.65 (USD)*

Industry Landscape R 1 330.00(ZAR) estimated $ 69.76 (USD)*

The Beverages Industry in Mozambique 2019

The Beverages Industry in Mozambique

Full Report R 1 900.00(ZAR) estimated $ 99.65 (USD)*

Industry Landscape R 1 330.00(ZAR) estimated $ 69.76 (USD)*