Nigerian investment in Mozambique tops US$44 million in 5 years, expected to grow in the near

Nigerian High Commissioner in Mozambique, Yamah Mohammed Musa, said the Nigeria-Mozambique Business and Investment Forum would open space in the trade area so that more business can arise, thereby consolidating the economy of both countries.

“We are using this forum to invite Nigerian private entrepreneurs to come and explore business opportunities in Mozambique, because there is a lot of potential and a lot of resources which foreign investors can use as a source of financing for various investments in the country, and also showcase Nigeria’s potential,” Musa said.

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Photo courtesy: Câmara de Comércio de Moçambique

One of the main goals of this business forum is to stimulate the growth of micro, small and medium-sized enterprises (MSMEs) with strategies to this end already being implemented by some Mozambican entrepreneurs.

“We want, firstly, to make Nigerian entrepreneurs aware of the potential of Mozambique, secondly, to promote exchanges between entrepreneurs from the two countries, thirdly, to promote business partnerships and exchanges of services between Nigerian and Mozambican entrepreneurs, to promote investment and boost the economic development of micro, small and medium-sized companies in Mozambique and Nigeria, through the internationalisation of their products and services, and finally, to stimulate business between Africans, that is, intra-African business,” declared Álvaro Massingue, the president of the Chamber of Commerce of Mozambique.

Interviewed by ‘O País Económico’, Otieno Salimu, a Nigerian businessman who works in Mozambique, stressed that Mozambique had a positive business environment, making it worthwhile continuing to invest.

“For me, Mozambique has a good business environment and can profit from Nigeria’s experience in the areas of oil and petroleum, given that the country has developed in these areas, and I believe that it can take advantage of these areas, as well as in agriculture,” Salimu said.

The Business Forum in Maputo, which brings together businesspeople from Nigeria and Mozambique, runs under the motto “Creating Opportunities for Partnership, Investment and Economic Growth”, and ends this Friday.

O Pais.