Maputo, July 14, 2026 (Lusa) - Mozambique's president said on Tuesday that the natural gas mega-projects in Cabo Delgado would have a transformative impact, with the revenue generated used to diversify the economy by investing in productive sectors such as agriculture, industry, tourism, and logistics.
Speaking in Maputo at the opening of the 21st Annual Private Sector Conference (CASP), Mozambique’s largest forum for dialogue between the public and private sectors, Daniel Chapo stated that the $50 billion (€43.8 billion) in investment planned for the Rovuma Basin in the north of the country, whilst significant, “requires additional measures to fully transform Mozambique”.
According to the president, the true impact of the gas projects will depend on the country’s ability to channel the resources generated into other economic sectors, creating jobs, income and new investment opportunities: “What will change Mozambique is our vision of building a diversified economy. Taking the resources generated by this extractive industry and investing them in agriculture, trade, industry, transport, logistics, tourism and digitalisation, the blue economy, and so many other areas of investment that Mozambique has to offer.”
Mozambique’s government forecasts average economic growth of 4.9% from 2027 onwards, driven by Liquefied Natural Gas (LNG) mega-projects, rising to 9.5% in 2029 as new facilities come on stream. The 2027–2029 Medium-Term Fiscal Scenario, approved by the cabinet on 7 July, sets out this forecast and will serve as the basis for drawing up the Economic and Social Plan and State Budget (PESOE) for 2027.
Daniel Chapo said that the country should use the revenue from the exploitation of natural resources to accelerate economic transformation, promote industrialisation and strengthen national productive capacity.
“All of us, as Mozambicans, are working together in unity to lay the foundations for our economic transformation, to revitalise our economy and to foster the economic and social growth and development of Mozambique,” he said.
Mozambique currently has three approved mega-projects for the exploitation of natural gas reserves in the Rovuma Basin, off the coast of Cabo Delgado province, which are ranked among the largest in the world.
At the same conference, Daniel Chapo called for better coordination between the public and private sectors to accelerate economic development, emphasising that it is up to business leaders to invest in innovation, job creation, and workforce upskilling.
“Economic transformation is the work of all of us. Development is, by its very nature, a task for all of us, which is why we are here. Because when the government, businesses, workers, universities, development partners and citizens move in the same direction, progress ceases to be an aspiration and becomes a reality – which is what we all want,” he said.
The president added that the state’s role should focus on creating favourable conditions for business activity, through regulation and the formulation of appropriate public policies.
“Those in the private sector must understand that their task is to transform, produce and compete, whilst those in the public sector must create the conditions for this to happen. People should focus on one sector at a time,” he advised.
“We need clear roles: either play or referee; choosing one role ensures fair play,” he concluded.
Starting today and over the next two days, CASP will review projects valued at $1.2 billion (€1.05 billion), according to the Confederation of Economic Associations of Mozambique (CTA), the event’s organiser, which is bringing together more than 2,000 participants, including government officials, business leaders, investors, academics and cooperation partners.
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