Mauritius To Invest US$1.2 Billion In Mozambique’s Fisheries Sector

(3/11/ 2010)

APA-Maputo (Mozambique) A group of businessmen from Mauritius will invest $1.2 billion in the Mozambican fisheries sector to produce 60, 000 tonnes of fish in southern Mozambique, private newspaper O Pais reports on Wednesday, quoting Victor Borges, Mozambique’s Fisheries Minister.

The Maputo-based paper said Borges was speaking after meeting a delegation of business people from Mauritius headed by that island nation’s Fisheries Minister, Von-Mally Joseph.

The Mozambique government is encouraging foreign funding largely from British, Mauritian and South African investors to put cash in the agriculture industry, arguing that fishing and agro-business is of great potential in the country.

After being almost totally depleted during Mozambique’s civil war, the country’s agricultural sector is resurgent and several billions of dollars are being invested in the industry, much of this by South African and Mauritian firms.

source: Afrique Avenir

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