Mozambique will invest revenues from megaprojects in other sectors to ensure growth and development, President Daniel Chapo said today, explaining that this is how the country will put money in the pockets of every citizen.
Speaking at the opening of the 61st Maputo International Trade Fair (FACIM), which runs from today until 5 September at the Ricatla International Trade Fair and Exhibition Centre in Maputo, Daniel Chapo recalled that the country currently has two projects by TotalEnergies and Eni under way in the Rovuma Basin, while awaiting ExxonMobil’s final investment decision.
All three liquefied natural gas (LNG) projects are expected to total around US$60 billion (€51.7 billion) in investment over the next ten years.
For this reason, the President said, Mozambique is investing in building the capacity of small and medium-sized enterprises (SMEs) to provide services to these megaprojects, as part of the country’s economic transformation.
“What we want is to take the gas revenues and invest them in other areas of our economy: agriculture, industry, mineral resources, energy, tourism, digital transformation, the blue economy and infrastructure to boost the Mozambican economy,” he added.
For Chapo, this strategy will enable the Government to ensure economic development and growth.
“Our struggle is to put money in the pockets of every Mozambican. Our struggle is not just for growth, but this growth must be accompanied by development in the sectors we have mentioned, so that we can generate income, generate salaries, generate taxes, boost the economy and, above all, also combat social inequalities,” the Mozambican head of state declared.
Mozambique has three megaprojects approved for the exploitation of liquefied natural gas (LNG) reserves in the Rovuma Basin, classified among the largest in the world, off Cabo Delgado province in the north of the country.
For Chapo, the challenge facing the current generation is not the discovery of new wealth, but its transformation through the creation of local industrial capacity.
The head of state therefore argued that only the local processing of these resources will give rise to a diversified, competitive and sustainable economy, in which young people and women entrepreneurs can find opportunities and room for growth.
“Mozambique’s future will not be built by the state alone, nor by companies alone. It will be built by all of us, working together with confidence, discipline, responsibility, competence, legality, integrity, innovation and a focus on results,” he said, calling on businesspeople to invest in golf tourism.
“We want to transform our economy from a services economy into a productive economy. We want those who are discovering the opportunities our country offers at this fair to be able, in November, to see another part of our greatest strategic assets up close,” he concluded.
FACIM, considered Mozambique’s leading business showcase, is being held this year under the theme “Digital and energy transformation for a sustainable economy”.
The organisers expect nearly 3,000 exhibitors from 29 countries, including around 600 foreign companies and 2,300 domestic exhibitors, and also expect to receive around 55,000 visitors over the six days of the event. Brazil is participating as the guest of honour.
In addition to the exhibition spaces, FACIM features an agricultural show, sectoral and institutional pavilions, and various initiatives aimed at promoting Mozambican exports. The programme also includes business forums and thematic seminars to strengthen partnerships and investment opportunities, notably the Mozambique-China, Mozambique-Brazil and Mozambique-United Arab Emirates (UAE) forums.
Portugal is participating with more than 100 Portuguese-owned companies, around 20 of which have their own exhibition spaces. The Portuguese presence includes Secretary of State for the Economy João Rui Ferreira and the president of the Portuguese Agency for Investment and Foreign Trade (AICEP), Madalena Oliveira e Silva.
In parallel, the Portugal-Mozambique Business Forum 2026 will take place on 1 September. According to official figures, there are around 500 Portuguese-owned companies in Mozambique and more than 1,100 Portuguese exporting companies active in this market.
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