The President of Mozambique, Daniel Chapo has moved to strengthen business ties with South Africa during a high-level dinner meeting with some of the top JSE-listed companies.
Mozambique’s President Daniel Chapo has been on a significant visit to South Africa to strengthen ties between the two countries. This follows President Cyril Ramaphosa hosting him earlier this month to bolster political relations.
One of the highlights of the visit was a dinner meeting hosted by the South African Chamber of Business in Mozambique (SACBM), bringing together President Chapo, Minister of Economy Basílio Muhate, Minister of Transport and Logistics João Matlombe, Minister of Foreign Affairs Maria Manuela Lucas, and 11 South African CEOs from various industries, including logistics, agriculture, energy, financial services, security, telecom, and hospitality, a statement said Monday.
Logistics group Grindrod has significant operations in Mozambique, specifically in Maputo, Matola, Nacala, and Pemba, and has committed to further investments. Grindrod is aligned with the port of Maputo’s expansion. Similarly, companies like Mozal Aluminium, a subsidiary of South32, and Sasol reiterated their commitment to their investments in Mozambique, signaling a positive outlook on the country’s economic potential.
Despite challenges such as electoral protests and border closures in recent months, the sentiment toward investing in Mozambique remains optimistic.
“The close connection between South African businesses and Mozambique was emphasized, with the staggering statistic that South African companies lost R455 million per day during the post-election riots and border closures.
“The proactive response by BUSA’s logistics and transport sectors and the SACBM’s crisis committees ensured the continued flow of cargo, especially food and fuel, to ensure availability,” Ike Cha, the Secretary General of the South African Chamber of Business in Mozambique said.
During the earlier talks with Ramaphosa, Mozambique and South Africa committed to improving border integration and efficiency on the N4 Corridor, one of the main connecting routes between the two countries.
BUSINESS REPORT
