Mozambique stands up in the starting blocks

Mozambique is creeping back onto investors’ radar scanners, as commercial financing trickles grow steadier, writes Kevin Godier.

Mozambique has been slowly pulling in the new investment that is required as a cornerstone of President Armando Guebuza’s economic programme. In what remains one of Africa’s poorest economies, where donors provided US$1.2bn-worth of support in 2007, capital market activity is highly embryonic, and the local banking sector remains constrained by a low capital base, but Mozambique’s infrastructure sector has acted as a draw for some significant streams of external commercial money.