AGP Executive Report

Maputo Port: DP World and the Maputo Port Development Company have launched a US$150 million dredging project to let larger vessels use the port and strengthen Mozambique’s regional trade role. SMEs: Canada will support 200 Mozambican businesses, focusing on exports, digital upgrades and climate resilience; 60% are expected to be women-led or owned. Gas: Eni plans to begin drilling up to six wells in November for Coral North, targeting production by 2028, and is assessing a third floating LNG project. Public finances: The government says LNG revenue is split between current spending and savings, with 40% going to the sovereign wealth fund, which held US$151 million. Shipping: Mozambique plans to introduce maritime cabotage concessions by June 2027, building on more than 200,000 tonnes of cargo moved by sea since April 2025. Connectivity: Ethiopian Airlines will add Nacala to its Mozambique network from 27 October, with three weekly flights via Addis Ababa.

Regional Fuel Links: Zimbabwe’s NOIC has begun a second phase of its pipeline expansion, upgrading the Beira–Feruka–Harare route as demand for fuel from neighbouring countries grows. Maputo Port: Mozambique has launched a US$150 million dredging project to deepen the access channel and accommodate larger vessels, part of a wider US$2 billion modernisation programme. Gas Investment: Eni plans to drill up to six wells from November for its Coral North LNG project, targeting production by 2028 and a potential doubling of its Mozambique output to about 7 million tonnes a year. Capital Markets: President Daniel Chapo says the Mozambique Stock Exchange listing of cargo-tracking firm MECTS—the first company listed under the public-private partnership framework—should encourage broader local investment in businesses. Air Mozambique: The transport minister has called for firm timelines and measurable steps to improve the state airline’s operations and financial sustainability.

Port Investment: Mozambique has begun a US$150 million dredging project at Maputo Port, deepening its access channel to 15.3 metres so larger ships can call. The work is part of a wider US$2 billion upgrade to boost capacity and regional trade. Mining: Kenmare Resources says ilmenite prices remain under pressure from oversupply and mixed pigment demand, while zircon prices rose as supply tightened. Food Trade: The Cereals Institute suspended three major rice and wheat importers and seized 34,300 tonnes, alleging imports lacked approval. The tighter controls aim to curb foreign-exchange abuses but raise questions about food supply. Airline Finances: Transport Minister João Matlombe has called on LAM’s restructuring team to deliver measurable steps to improve the state-owned carrier’s operations and financial sustainability. Capital Markets: President Daniel Chapo says wider access to the stock exchange can help citizens own productive assets. MECTS has become the first public-private partnership company listed on the Mozambique Stock Exchange. Gas Outlook: Mozambique could benefit as global buyers seek more diverse LNG supplies, although a global supply glut is expected from 2029.

Disaster Resilience: A Maputo conference has urged stronger early-warning systems and investment in resilient infrastructure, as climate shocks threaten livelihoods and public budgets. Public Finances: Mozambique’s proposed 2027 budget projects revenue of 427.8 billion meticais, GDP growth of 1.6% and a deficit of 4.6% of GDP. Food Supply: The Cereals Institute has suspended three major rice and wheat importers and seized 34,300 tonnes, tightening state control over imports to curb alleged foreign-currency abuse. Trade Infrastructure: A $150 million dredging project at Maputo Port aims to admit larger vessels and boost the corridor’s regional trade capacity. Investment: Mozambique and the Islamic Development Bank are preparing a new partnership strategy, with potential financing for infrastructure and social priorities. Fuel Corridor: CPMZ is expanding the Beira–Feruka pipeline’s capacity by 67%, while a new pumping arrangement can send fuel directly from Beira to Harare. Digital Finance: PawaPay has secured a payment-service-provider licence in Mozambique, opening direct access to mobile-money networks.

Public Finances: Mozambique’s 2027 budget proposal projects revenue of 427.8 billion meticais and spending of 511.2 billion, with GDP growth forecast at 1.6%, inflation at 7% and the deficit targeted at 4.6% of GDP. Ports and Trade: President Daniel Chapo has launched a $150 million Maputo Port dredging project to deepen and widen the access channel, allowing larger vessels and supporting regional trade. Fuel Infrastructure: CPMZ plans to raise Beira–Feruka pipeline capacity by 67% by December 2027 and will take its regional business forum to Zambia on 27 October. Development Finance: Mozambique’s finance minister and the Islamic Development Bank discussed future financing for infrastructure and social priorities, including concessional and blended funding. Business Climate: SERNIC says some officers worked with organized crime groups; the agency links reforms to a year without reported kidnappings, a crime that has driven businesses and investors away.

Port Investment: President Daniel Chapo launched $150 million in dredging at Maputo Port to accommodate larger ships and boost cargo capacity. The work forms part of a roughly $2 billion port-modernisation programme; Maputo handled about 32 million tonnes of cargo in 2025. Regional Trade: A new pumping arrangement sends fuel from Beira directly to Harare, giving the Beira Corridor more flexibility. Separately, Botswana received its first diesel shipment via Matola, with Mozambique’s PetroMoc among the partners. Public Finances: The World Bank says Mozambique remains acutely debt-vulnerable and needs steps to restore debt sustainability. The government has also cut its GDP growth forecast to 0.9% and announced plans to pay 81.3 billion meticais owed to suppliers. Digital Finance: PawaPay secured a payment-service-provider licence in Mozambique, opening direct access to mobile-money networks.

Ports and Trade: President Daniel Chapo has launched a $150 million dredging project to let larger vessels reach Maputo Port. The port handled about 32 million tonnes of cargo in 2025, and the works form part of a wider $2 billion programme to expand and modernise port infrastructure. Regional Energy Links: A new pipeline pumping model now sends fuel from Beira directly to Harare, bypassing Feruka or splitting deliveries between the two destinations. Operators say the added flexibility strengthens the Beira Corridor’s role in regional fuel supply. Public Finance: Mozambique plans to introduce AI and data analytics into treasury, debt and state-asset management, as part of its public finance reforms through 2035. Business Cooperation: Mozambique and the Republic of Congo have signed cooperation agreements covering hydrocarbons, fisheries, maritime affairs and small businesses, with Chapo urging the two countries to turn political ties into trade, investment and jobs. Debt Risks: The World Bank lists Mozambique among countries facing acute debt vulnerabilities and says restoring debt sustainability remains a pressing challenge.

Public Finance: Mozambique is among the countries facing acute debt vulnerabilities, the World Bank says, calling for measures to restore debt sustainability. The government also plans to use AI and data analytics in treasury, debt and state-asset management. Energy Trade: Botswana’s first diesel shipment from Oman arrived at Matola Port, opening a new supply route and involving Mozambique’s PetroMoc and logistics partners. Regional Business: President Daniel Chapo’s visit to Congo produced cooperation agreements covering hydrocarbons, fisheries, maritime activity and small businesses, with a push to turn political ties into trade and jobs. Digital Payments: PawaPay secured a Mozambican payment-service licence, enabling direct access to mobile-money networks. Logistics: Mozambique’s regulator is pushing postal-sector reform as e-commerce grows, citing informal deliveries and the need for better technology and wider coverage.

Energy Trade: OQ Trading delivered its first 20 million litres of diesel to Botswana via the Port of Matola, opening an alternative supply route with help from Mozambique’s PetroMoc. Regional Business: Mozambique and Congo signed about ten cooperation agreements covering hydrocarbons, SMEs, fisheries, forestry and maritime activity, with leaders urging stronger trade and investment ties. Ports & Logistics: Maputo Port is dredging its channels to accommodate larger vessels and expand its role in regional trade. Digital Commerce: Mozambique’s regulator is pushing to modernise postal services as e-commerce grows, citing unlicensed parcel delivery and gaps in consumer protection. Mining Finance: Syrah Resources expects a smaller US development-finance disbursement for its Balama graphite project this month, while documents for a wider funding package have slipped to next year. Mineral Investment: Abu Dhabi’s IRH has made a takeover proposal for Mozambique-focused miner Kenmare, sending its shares higher. Payments: PawaPay has secured a Mozambican payment-service-provider licence, giving it direct access to mobile-money networks.

Mining Finance: Syrah Resources expects a smaller US development-lender disbursement for its Balama graphite business this month, but binding documents for a wider funding package have slipped into next year. Trade Infrastructure: Maputo Port is dredging its channels to handle larger vessels and cargo, aiming to expand capacity and strengthen regional trade. Jobs and Enterprise: A government and IFAD programme will train 2,650 young people, half of them women, in fisheries and aquaculture, with starter kits to help launch businesses. Investment Links: An Italian delegation explored cooperation in energy, agriculture and infrastructure in Tete, including potential collaboration on the Mphanda Nkuwa project. Digital Payments: PawaPay has secured a Mozambican payment-service-provider licence, opening direct access to local mobile-money networks. Economic Outlook: The government has lowered its 2026 growth forecast to 0.9% and announced a plan to settle 81.3 billion meticais in supplier arrears.

Ports and Trade: Maputo Port is dredging its channels to accommodate larger vessels and boost cargo capacity, strengthening its position in regional and international trade. Fisheries and Jobs: A new programme will train 2,650 young people in fisheries and aquaculture businesses across 38 districts; half the places are reserved for women, and graduates will receive work kits. Economic Outlook: The government has cut its 2026 growth forecast to 0.9% and announced a plan to pay 81.3 billion meticais owed to suppliers. Digital Finance: PawaPay has secured a Mozambican payment-service-provider licence, giving it direct access to mobile-money networks. Mining Investment: Abu Dhabi’s XRG has shown interest in titanium producer Kenmare, putting Mozambique’s mining sector in focus for international investors.

Investment: The US Development Finance Corporation plans to expand equity investments in African businesses, with critical minerals a priority. Its more than $14 billion in African commitments include projects linked to Mozambique’s graphite sector. Payments: PawaPay has secured a Bank of Mozambique licence, allowing it to connect merchants directly to the country’s mobile-money networks. Growth and Finance: The government has cut its 2026 growth forecast to 0.9%, while the central bank announced financing mechanisms to boost company credit. The government also plans to repay 81.3 billion meticais owed to suppliers. Trade Corridors: A $174,000 contract will fund a digital system to track cargo and delays along the Beira Corridor, linking Mozambique’s port with regional markets. Regional Partnerships: Mozambique and Congo signed 10 cooperation agreements covering oil and gas, maritime activity, tourism and small businesses; President Daniel Chapo urged companies to pursue joint ventures.

Digital Payments: PawaPay has secured a Bank of Mozambique licence to connect merchants directly with the country’s mobile-money networks, opening a regulated route to serve more businesses. Growth and Public Finance: The government has lowered its 2026 GDP growth forecast to 0.9% and says it plans to repay 81.3 billion meticais owed to suppliers; the central bank has also announced financing measures to expand credit to companies. Trade Corridors: A US$174,000 contract will fund a digital platform to track cargo and identify delays along the Beira Corridor, a key route linking Mozambique with neighbouring markets. Energy and Minerals: Abu Dhabi’s IRH has proposed taking over Kenmare Resources, owner of the Moma titanium mine, drawing fresh attention to Mozambique’s mineral assets. Regional Business: Mozambique and the Republic of the Congo signed 10 cooperation agreements covering oil and gas, maritime activity, tourism and small businesses, with President Daniel Chapo urging companies to pursue joint ventures.

Digital Payments: PawaPay has secured a Bank of Mozambique licence to onboard merchants directly and connect them to the country’s three mobile-money networks, which have more than 12 million active accounts. Regional Business: Mozambique and the Republic of the Congo signed 10 cooperation agreements, covering oil and gas, maritime trade, tourism and small businesses; President Daniel Chapo also urged companies to pursue joint ventures. Mining Investment: Abu Dhabi-based IRH has offered to acquire Kenmare Resources, which operates the Moma titanium mine. Port Development: Mozambique expects to choose a private operator for Nacala by March, aiming to attract investment and boost cargo traffic; scrutiny is also on the commercial and political systems around the port. Economic Outlook: The government has revised its GDP growth forecast down to 0.9%, while the central bank has announced financing mechanisms to help companies access credit.

Digital Payments: PawaPay has won a Bank of Mozambique licence to onboard merchants directly and connect them to the country’s three mobile-money networks, which together have more than 12 million active accounts. Nacala Port: The government plans to select a private operator by March 2027, aiming to attract investment and raise cargo traffic. But the port’s challenges extend beyond operations: a commercial dispute involving about $150 million in agricultural commodities is now before arbitration, with allegations against Mozambique not yet settled. Mining: Abu Dhabi’s IRH has made a takeover offer for Kenmare Resources, operator of the Moma titanium mine, as Mozambique negotiates an extension of the company’s mineral-processing and export rights. Regional Business: Mozambique and the Republic of the Congo signed 10 cooperation agreements spanning oil and gas, maritime activity, tourism and small businesses; Botswana and Mozambique also agreed to elevate their partnership to a presidentially chaired Binational Commission. Investment and Energy: Tete hosted an investment conference promoting opportunities in mining, agriculture, energy, tourism and logistics. Separately, UK-backed funding for clean-energy projects across eight African countries includes Mozambique.

Mining: Abu Dhabi-based IRH has offered to acquire Kenmare Resources, which operates Mozambique’s Moma titanium mine. The proposal comes as Kenmare negotiates an extension of its mineral-processing and export rights with the government. Economic Outlook: The government has cut its 2026 GDP growth forecast to 0.9%, from 2.8%, citing floods and economic shocks. El Niño could add pressure, with rainfall deficits expected in southern and central regions. Business Finance: The Bank of Mozambique is introducing 18-month financing mechanisms to encourage lending to firms expanding exports and replacing imports. Banks can offset eligible new loans against required reserves. Payments: PawaPay has secured a central bank licence to onboard merchants directly, opening a regulated route into a mobile-money market with more than 12 million active accounts. Public Finances: The government plans to address 81.3 billion meticais in unpaid obligations, including supplier arrears, and prevent new debts from accumulating. Agriculture: Cashew smuggling cost the state 457 million meticais over three years, with about 35,000 tonnes diverted from formal trade.