USTDA gives US$1m grant to fund large-scale battery storage feasibility studies in Mozambique and Senegal

MOZAMBIQUE – US Trade and Development Agency (USTDA) has allocated a grant of just under US$1 million to fund feasibility studies for large-scale battery storage projects in Mozambique and Senegal. The large-scale battery storage projects are co-located with wind power in Senegal, West Africa and Mozambique, in southeastern Africa. A grant of just under US1 million was made by USTDA lin 2020 for the Senegal Battery Storage for Grid Resiliency Project, paid to Lekela Energie Stockage, a special purpose vehicle (SPV) subsidiary set up and owned by renewable project developer Lekela Power.…

Read More

Sasol agrees to sell 30% interest in ROMPCO to an acquisition vehicle

MOZAMBIQUE- Energy and chemical company Sasol South Africa (SSA), a subsidiary of Sasol, has concluded a sale and purchase agreement (SPA), to sell a 30% equity interest in the Republic of Mozambique Pipeline Company (ROMPCO), subject to pre-emptive rights by other shareholders. In a statement, Sasol said ROMPCO is a joint venture between SSA (50%), Companhia Mocambiçana de Gasoduto S.A. S.A.R.L (CMG) (25%) and South African Gas Development Company (SOC) Limited (iGas) (25%). The joint venture owns the 865km gas transmission pipeline from Mozambique to South Africa. The company said…

Read More

World Bank approves US$100m grant to support MSMEs, foster inclusive growth in Mozambique

MOZAMBIQUE – The World Bank has approved a US$100 million grant from the International Development Association (IDA), in support of the Government of Mozambique’s Economic Linkages for Diversification Project, which supports Micro, Small, and Medium Enterprises (MSMEs), develop their capacities to provide goods and services to larger businesses, as well as serve the growing cities in the centre and north of Mozambique, thus fostering linkages and economic diversification. “Mozambique’s growth has been driven by Foreign Direct Investments (FDI) into capital-intensive industries, which has not translated into adequate levels of job…

Read More

World Bank approves US$380m financial support to Malawi & Mozambique to facilitate trade

MALAWI – The World Bank, through the International Development Association (IDA), has approved US$380 million in financing to support Malawi and Mozambique increase regional trade coordination, reduce trade costs and time, develop regional value chains, and improve access to infrastructure. The new Southern Africa Trade and Connectivity Project (SATCP) seeks to benefit the two countries through investments that will facilitate trade, strengthen regional coordination, and increase diversified economic opportunities along the Nacala and Beira corridors, connecting Mozambique to Malawi, and along the Maputo Corridor, connecting Mozambique to South Africa through…

Read More

Total confirms suspension of work on Mozambique LNG project

MOZAMBIQUE – French energy giant Total has confirmed it is suspending work on a massive US$20 billion gas project in northern Mozambique following the latest jihadist assault on a nearby town in March 2021. “Considering the evolution of the security situation, Total confirms the withdrawal of all Mozambique LNG project personnel from the Afungi site,” the company said in a statement. Total added that it was declaring a “force majeure” situation beyond its control, a legal concept meaning it can suspend fulfilling contractual obligations. A March 24, 2021, jihadist raid…

Read More

Belgium’s Enabel floats tender for five mini-grids in Mozambique

MOZAMBIQUE – Belgian development agency Enabel, has issued a tender for the design, procurement and construction of five minigrid in Zambézia and Nampula provinces in Mozambique. The solar power plants have an expected generational capacity ranging in size from 75 to 230kWp. According to Power Africa, despite the huge potential for renewable resources, Mozambique mostly gets its electricity from hydropower with 2,184MW of hydroelectric power and 643MW from thermal generation. Enabel has been working with Mozambique’s Ministry of Mineral Resource and Energy to increase access to energy in rural areas…

Read More

Agility opens new logistics park in Maputo, Mozambique

MOZAMBIQUE – Agility, a leading global logistics and warehouse provider, has opened a new logistics park in Maputo, adding to its growing network of international-standard warehouse parks serving key African markets. The new 290,000 M2 Agility park is strategically located on the new Maputo ring road in the Marracuene-Chiongo district, providing easy access to the burgeoning Maputo market and road connections to the major highways leading to large markets in the north of Mozambique and to South Africa.  The 32,000 M2 of Agility warehousing constructed for the first phase of…

Read More

Mozambique and Total agree on resumption of LNG work after security beef up

MOZAMBIQUE – The government of Mozambique and French oil and gas company Total, have announced that construction work will soon resume on natural gas liquefaction plants on the Afungi Peninsula, in the northern province of Cabo Delgado, thanks to additional security measures now being taken in that area. Work on the “Mozambique LNG” project, run by a consortium headed by Total, was interrupted at the end of December 2020, due to security threats in the immediate vicinity. The worst incident was a clash between the police and terrorist infiltrators on…

Read More

Investment bank Societe Generale secures US$3.6m loan from Proparco to support SMEs in Mozambique

MOZAMBIQUE – Proparco, the private arm of the French Development Agency (AFD), has pledged a guaranteed loan of €3 million (US$3.6 million) to French multinational investment bank and financial services company Société Générale’s subsidiary in Mozambique to support small and medium-sized enterprises (SMEs). The guarantee will target companies operating in high-impact sectors, with a focus on agribusiness. The agreement will also support women-owned businesses. “Proparco is pleased to be able to count on a key partner like Société Générale to support SMEs in a country where financial inclusion remains a huge…

Read More

ExxonMobil postpones final investment decision on Rovuma LNG project once again

MOZAMBIQUE – American multinational oil and gas corporation Exxon has postponed for the third consecutive year the Final Investment Decision on the natural gas exploration project in Mozambique, putting the US$30 billion investment in doubt. According to Bloomberg news agency, which quotes the company’s Senior Vice President Neil Chapman, during a conversation with analysts, there is no forecast on when the investment decision will be made on the natural gas plant in the Rovuma basin, as the oil company needs to secure power supplies from the neighbouring plant operated by…

Read More