The trade between the UK and Mozambique surged 33% over the past year, reaching $370 million as the long-time partners prepare for the UK-Africa Investment Summit in London next year.
Senior UK trade official John Humphrey met this week with executives from over 10 British companies operating in Mozambique along with government leaders to discuss strengthening business ties and investment priorities.
The gathering highlighted major growth opportunities across infrastructure, telecoms, mining, and agriculture – sectors seeing robust engagement from prominent UK firms like Globeleq, Vodacom, Gemfields and Maragra Sugar.
With trade heating up on both ends, the summit aimed to align government and private sector priorities as well as improve Mozambique’s commercial environment. Officials have targeted policies to boost bilateral exports and make investment regulations more transparent and efficient.
The economic acceleration package enacted by Mozambique’s government dovetails closely with interests emphasized by UK stakeholders around power, technology, essential minerals and female entrepreneurship.
While challenges remain, a spirit of open dialogue and tangible progress on reforms has British companies bullish on Mozambique’s trajectory. The nation’s vast natural resource wealth, growing population and strategic location provide ideal conditions for UK capital, skills and technology to deliver broad-based development impacts.
With the next Africa investment summit slated for 2024 in London, both governments are energized to showcase these successes. The previous summit in 2020 spawned $8.5 billion in deals across sectors like healthcare, infrastructure and clean energy.
As UK companies continue achieving new milestones in Mozambique, all signs suggest the next UK-Africa summit will spotlight these win-win partnerships on the global stage. The long-running commercial relationship stands positioned to reach even greater heights.