Mozambican President Filipe Nyusi has called for more Arab investment in areas from electric vehicle (EV) batteries to agriculture at the Arab Investment Forum – Mozambique, which was held over the past two days in the country’s capital, Maputo, Lusa reports.
Nyusi highlighted the “preponderance” and “growth” of Arab investments across the continent, particularly in Mozambique. He encouraged investors to move into key areas for national development, such as agricultural and industrial production, oil and gas, transport and tourism. Mobilising Arab investors in these “high-potential economic sectors” could also present export opportunities for the Arab market, Nyusi said.
The president drew particular attention to Mozambique’s potential as an EV battery producer. The southern African country is home to many critical minerals involved in making the batteries, including lithium, graphite, tantalum, aluminium and titanium. Nyusi noted that Mozambique had favourable conditions “not only for extraction but also for transformation.”
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The same minerals could be used to help grow the country’s solar power potential, an industry Mozambique is eager to expand as it works toward the goal of universal energy access by 2030. Most of the country’s renewable energy currently comes from hydroelectric dams, but the last five years have seen the opening of multiple solar farms.
Agriculture was another area with significant potential, Nyusi said. Investments into rural infrastructure, inputs and agricultural research would improve productivity, increase food security and reduce poverty in the country, he noted.
Mozambique brought together Mozambican businesspeople, private investors from Arab countries and representatives from the Arab Bank for Economic Development in Africa (BADEA) for the The Arab Investment Forum. BADEA president Sidi Ould Tah described the event as “a starting point for a long journey that we will take together to bring more investment to this beautiful country.”
