Mozambique Banks on Energy Sector to Attract New Investment

Mozambique is looking to use its natural gas, renewable energy and critical minerals resources to attract new investment, Finance Minister Carla Louveira said on Wednesday as the government works toward universal electricity access by 2030.

Louveira spoke at the Infra for Africa High Level Meeting in Dar es Salaam, held alongside the Africa50 General Assembly. She said the country's energy resources put it in a good position to draw investment and support the energy transition.

"We have made our information available to this platform so that more investment can be channeled into Mozambique," she said.

The minister said the government wants every citizen to have access to electricity by 2030. The programme covers the country's estimated population of 33 million people and will rely on expanding the national power grid and using more than one source of energy.

Electricity access plans

Louveira said Mozambique is also using more natural gas at home and for vehicles as it promotes electric vehicles under its energy policy.

She said the combination is intended to improve energy security and support sustainable development.

The minister pointed to the country's natural gas reserves, renewable energy resources and critical minerals as assets that can help attract investors into the energy sector.

She told participants that Mozambique had shared information on investment opportunities through the meeting's platform to encourage more funding for projects in the country.

Search for new financing

Louveira said African countries need other ways to finance infrastructure because many governments have less fiscal space than before.

"We are exchanging experiences with the aim of achieving the common goal of African countries, which is to find new forms of financing to meet the challenge of reduced fiscal space for infrastructure investment," she said.

She said discussions at the meeting gave participating countries an opportunity to share ideas on how to finance major infrastructure projects under tighter public budgets.

The minister also said Africa50 provides a platform for promoting large infrastructure projects and building investment partnerships.

The Infra for Africa High Level Meeting took place in Dar es Salaam alongside the Africa50 General Assembly, bringing participants together to discuss infrastructure financing and investment opportunities on the continent.

Mozambique's electricity access programme aims to reach about 33 million citizens by 2030 through grid expansion and a more diverse energy mix, while the government continues to promote natural gas use and electric vehicles.