|Full name||Republic of Mozambique|
|Location||Southeastern Africa, bordering the Mozambique Channel, between South Africa and Tanzania|
|Geographic coordinates||18 15 S, 35 00 E|
|Currency||Mozambican metical (MZN)|
|Internet code||.mz||Industry||Food, beverages, chemicals, aluminium, petroleum products, textiles|
|Agriculture||Cotton, cashew nuts, sugarcane, tea, beef|
|Exports||Aluminium, prawns, cashews, cotton, sugar|
|Geographic note||The Mozambique Island is a UNESCO World Heritage Site. The Bazaruto Archipelago is the largest marine reserve in the Indian Ocean.|
Mozambique beckons with its coastline and swaying palms, its traditions, its cultures, its vibe, and most of all, its opportunities for an adventure of a lifetime. This enigmatic Southeast African country has so much to offer to those who venture here: long, dune-fringed beaches, turquoise waters abounding in shoals of colourful fish, well-preserved corals, remote archipelagos in the north, pounding surf in the south and graceful dhows with billowing sails.
Adding to this intoxicating mix is the colonial-style architecture, pulsating nightlife, an endlessly fascinating cultural diversity and vast tracks of bush populated with elephants, lions and birds galore. Discovering these attractions is not always easy, but it is unfailingly rewarding.
Source: Lonely Planet
In 2014, Mozambique’s economy continued to perform strongly with real Gross Domestic Product (GDP) growth of 7.6% and the outlook remains positive. Sustained growth is expected at 8.1% in 2016. As in previous years, the main drivers of growth will continue to be public expenditure and Foreign Direct Investment (FDI). The main sectors benefiting are construction, services to enterprises, transport and communications, the financial sector, and extractive industries. In the short term, the main challenge is to remain attractive in terms of FDI while ensuring fiscal and debt sustainability.
In spite of lower-than-expected coal production, the extractive sector is an important economic driver. The government completely revised the legal and fiscal framework for the mining and hydrocarbons sector, aimed at increasing revenues and enlarging domestic participation in the sector. A fifth international tender was launched for the exploration of new oil and gas fields, opening up new prospects for further hydrocarbon discoveries.
Mozambique has structured its development strategy along Regional Spatial Development Initiatives Programmes (RSDIP) and Growth Poles (GP). These seek to amplify the impact of limited financial resources by optimising infrastructure investments in key areas or along geographic corridors. Typically anchored on large public projects, the RSDIP and GP approaches aim to foster spill over growth by attracting small and medium-sized enterprises up and downstream of large scale investment projects. The Maputo Development Corridor, which provides a model for RSDIP and GP strategies, has been highly successful in generating local economic development. It is among the most well-developed corridors in sub-Saharan Africa. Mozambique has two growth poles and five main development corridors.
Source: African Development Bank
In Mozambique, the transition from 16 years of civil war to peace has been successful. The commitment from both sides to pursuing non-violent governance has ensured peace and stability for nearly two decades since the civil war ended.
There are still incidents of distrust between political leaders but it is apparent that a majority of Mozambicans want to learn from but not live in the past. This has been achieved without any major institutional processes.
One more achievement of the country is a fast-growing economy. Given that Mozambique has suffered from numerous natural disasters since the turn of the millennium, it is remarkable that the country has maintained strong positive growth rates even during the global economic crisis. Although economic growth hasn’t yet adequately benefited the country’s poor, strong growth rates have built a base that has the potential to act as a launchpad for human development.
Source: Action for Southern Africa