The discovery of an esti-mated 23-billion tons of coal in Mozambique has attracted a lot of foreign investors and presents a great opportunity for South African firms, said Tete province First Secretary Lina Portugal at a trade and investment seminar held as part of the Department of Trade and Industry’s Outward Trade and Investment Mission last month.
Portugal described Tete as a province that has significant investment opportunities in the mining and farming sectors, adding that the discovery of coal and the strong agricultural sector presented a profusion of investment opportunities for business.
The declining coal price was not a deterrent, according to Portugal, who assured investors that this was a short-term constraint.
She noted that, while infra-structure development, water and electricity distribution, transport, skills development and training were all challenges faced by Tete, they also represented significant opportunities for South African firms.
Portugal highlighted that, while the mining sector was a mainstay to economic development and offered huge opportunities to South African firms, they should also explore opportunities in cattle, fish farming and tourism.
Tete Investment Promotion Centre head Leonardo Junior said the province was strategic in that it gave access to Malawi, Zimbabwe and Zambia, and South African firms should use this mission with their coun- terparts in Tete to form partner-ships in other investment sectors, which included services, trans-port and communication, agro-industry and construction.