South

Mozambique

موزمبيق

Mission
In scope · Country file in preparation
Country file
Published, with sources · Last reviewed 2026-10-07

From within

A dossier on Mozambique: its economy, institutions and society and its relations with the Kingdom, with sections on LNG projects, public finances and the security situation in the north, and on what merits study and follow-up.

The country at a glance

Neighbours: Tanzania · Malawi · Zambia · Zimbabwe · South Africa · Eswatini

Overview

The country at a glance

Selected indicators

Population
35.6 million peopleExact value: 35,631,653World Bank · 2025 · Estimate36
GDP
22.34 US$ bnWorld Bank · 202536
GDP per capita
627 US$World Bank · 202536
GDP growth
-0.5 %World Bank · 202536
Urban population
37.2 %World Bank · 2025 · Estimate36
Population under 15
44.2 %World Bank · 2025 · Estimate36

Country card

Capital
Maputo
Region
South
Location
Coastal
Neighbours
Tanzania · Malawi · Zambia · Zimbabwe · South Africa · Eswatini
More essential facts — 9 entries
Capital
Maputo.272829
Population — projection for end-2025
34 million people, according to projections by the National Institute of Statistics (INE).Data year: 2025Estimate272829
Area
About 801,590 km².272829
Coastline
About 2,500 km on the Indian Ocean.272829
Currency
The metical (MZN); the central bank is the Banco de Moçambique.1011272829
Official language
Portuguese.272829
Independence
25 June 1975.Data year: 1975272829
Regional and international frameworks
Southern African Development Community (SADC), African Union, Commonwealth, Community of Portuguese Language Countries, Organisation of Islamic Cooperation (since 1994) and Islamic Development Bank.Data year: 1994272829
Time zone
UTC+2.272829

Geographic context and connectivity

On the Indian Ocean

A coastline of about 2,500 km on the Indian Ocean. 272829

Society

People, society and culture

Topics in this section: Religion and the coast · Aspects of the general context · What this means in practice1289162122272829

People & Society

Religion and the coast

Muslims make up 19.1% of the population according to the 2017 census and are concentrated in the north and along the coast. 272829

Aspects of the general context

The IMF points to persistent fiscal and debt vulnerabilities, the insurgency in Cabo Delgado continues, and the 2024 election, whose results candidate Mondlane rejected, was followed by unrest. Analysis128916

What this means in practice

The Saudi links recorded in the file are in trade (mineral fuels, plastics and fertilisers among Saudi exports) and in development finance (Saudi Fund for Development loans reported in 2023). Analysis2122

Culture & Identity

Island of Mozambique

The Island of Mozambique has been a UNESCO World Heritage site since 1991. 3435

Island of Mozambique
A UNESCO World Heritage site since 1991.Data year: 19913435

Institutions

Institutions and national direction

Leadership

Section facts and information — 10 entries
President of the Republic
H.E. President Daniel Francisco Chapo (Frelimo), in office since 15 January 2025.Data year: 202512
Election of 9 October 2024
The Constitutional Council announced Chapo's victory with 65.17%, against about 24% for candidate Venâncio Mondlane, who rejected the results.Data year: 202412
Deaths in post-election unrest
Rights organisations reported between 300 and 400 deaths in post-election unrest; this is an attributed range, not an audited count.Data year: 2024–202512
April 2025
Suspension of the extended credit facility programme with the International Monetary Fund.Data year: 202589
October–November 2025
Final investment decision on Coral North and lifting of force majeure on Rovuma LNG.Data year: 2025Announced12131415
January 2026
Announcement of the restart of TotalEnergies' LNG project.Data year: 2026Announced12131415
March 2026
Mozal smelter placed on care and maintenance.Data year: 202617181920
March 2026
Full repayment of the International Monetary Fund credit.Data year: 202689
May 2026
Appointment of a Mozambican ambassador to the Kingdom.Data year: 202623242526
Financial Action Task Force (FATF)
The FATF removed Mozambique from its list of jurisdictions under increased monitoring on 24 October 2025.Data year: 202531

Topics in this section: Office-holders relevant to business · Bodies and zones in the investment framework3431

Office-holders relevant to business

  • Prime Minister: Maria Benvinda Levi
  • Finance: Carla Louveira
  • Economy: Basílio Muhate
  • Foreign Affairs and Cooperation: Maria Manuela dos Santos Lucas
  • Mineral Resources and Energy: Estevão Pale
  • Agriculture, Environment and Fisheries: Roberto Albino
  • Transport and Logistics: João Matlombe
  • Governor of the Banco de Moçambique: Rogério Zandamela

34

Bodies and zones in the investment framework

  • The investment and export promotion agency (APIEX)
  • The Mozambican tax authority (Autoridade Tributária)
  • The National Petroleum Institute (INP)
  • Special economic zones, for example Beluluane (Mozparks)

31

Institutions

Official bodies with their roles and official websites. Listing a body here does not make it a partner of the initiative.

Government and institutions 8

  • Presidency of the Republic

    Headed by the President of the Republic, Daniel Francisco Chapo.

    12

  • Prime Minister

    Maria Benvinda Levi.

    34

  • Ministry of Finance

    A government ministry (finance portfolio).

    34

+5 more
  • Ministry of Economy

    A government ministry (economy portfolio).

    34

  • Ministry of Mineral Resources and Energy

    A government ministry (mineral resources and energy portfolio).

    34

  • Ministry of Agriculture, Environment and Fisheries

    A government ministry (agriculture, environment and fisheries portfolio).

    34

  • Ministry of Transport and Logistics

    A government ministry (transport and logistics portfolio).

    34

  • Ministry of Foreign Affairs and Cooperation

    A government ministry (foreign affairs and cooperation portfolio).

    34

Investment and finance 3

  • Investment and Export Promotion Agency (APIEX)

    An investment and export promotion agency.

    31

  • Banco de Moçambique

    The central bank; its policy rate is the MIMO rate.

    1011

  • Federation of Saudi Chambers

    An agreement to establish a Saudi–Mozambican joint business council within it (March 2023); its operation has not been verified.

    23242526

Sectors and regulation 3

  • Mozambican tax authority (Autoridade Tributária)

    The tax authority.

    31

  • National Petroleum Institute (INP)

    Named in the investment framework.

    31

  • Saudi Fund for Development

    Three loans from it to Mozambique, totalling US$150 million, were reported in 2023.

    22

Media and statistics 2

  • Televisão de Moçambique (TVM)

    Public television broadcaster.

    30

  • Rádio Moçambique

    Public radio broadcaster.

    30

Economy

Economy and sectors

Topics in this section: The brief · Gas projects · Economic growth trends567891213141516

The brief

The LNG projects stand at different stages: Coral South is producing, Coral North has taken its final investment decision, TotalEnergies has announced a restart, and Rovuma LNG has had force majeure lifted without a confirmed final decision. GDP contracted in 2025, the IMF points to persistent fiscal and debt vulnerabilities, and an insurgency has been reported in the north since 2017. Analysis567891213141516

Gas projects

The final investment decision on Coral North was taken in October 2025; TotalEnergies announced the restart of its Mozambique LNG project in January 2026; and ExxonMobil lifted force majeure on Rovuma LNG in November 2025, with its final decision not confirmed as of 7 October 2026, according to the file's source team. Announced12131415

Economic growth trends

GDP contracted by 0.52% in 2025 after post-election unrest; year-on-year growth was then recorded at 4.67% in the fourth quarter of 2025, 0.1% in the first quarter of 2026 and 1.7% in the second quarter of 2026. 567

Public finances

The 2026 budget sets a deficit of about 7% of GDP; the IMF programme was suspended in April 2025, Mozambique repaid all its IMF credit by the end of March 2026, and an IMF team assessed a new financing request on 8–12 June 2026. 89

Security and humanitarian conditions in Cabo Delgado

Since 2017: more than 5,000 deaths and more than 1.3 million displaced, and Islamic State Mozambique activity has spread to Nampula and Niassa (according to a secondary source, ADF Magazine, February 2026). 16

What to watch
  • The final decision on the Rovuma LNG project.
  • The outcome of the new financing request to the IMF.
  • The security situation in Cabo Delgado and Nampula.
  • The fate of the Mozal smelter and its effect on exports.
  • Inflation after the rise in fuel and fertiliser prices.
  • Whether the Saudi Fund for Development loans reported in 2023 have moved to implementation.

Analysis89101112131415161718192022

The economy at a glance

A contraction in 2025 after post-election unrest, then year-on-year growth in the fourth quarter of 2025 and the first two quarters of 2026. Analysis567

Analytical note

The 2026 budget target (2.8%, December 2025) differs from the IMF projection (0.5%, June 2026); both are shown, and neither is a realised result. Analysis567

Liquefied natural gas

Coral North is targeted to start up in 2028 and the TotalEnergies project targets its first LNG in 2029. Announced12131415

What to watch in public finance
  • The IMF decision on new financing.
  • Budget implementation.

Analysis89

Coral North shareholders

XRG/ADNOC holds 10% of Coral North. Announced12131415

What to watch in LNG
  • The Rovuma decision.
  • The timetables.
  • Security in Cabo Delgado.

Analysis1213141516

Established sectors

In the case of Mozal, the smelter was placed on care and maintenance after no affordable power deal could be agreed. Analysis17181920

What to watch in industry and trade
  • Whether an affordable power deal for Mozal is agreed.
  • The effect of gas on the trade balance.

Analysis17181920

Inflation in 2026

Annual inflation rose from 3.99% in April 2026 to 7.5% in June and 7.4% in July, amid fuel and fertiliser price pressures linked to developments in the Middle East. 1011

Analytical note

The metical is reported stable against the US dollar, while inflation was 7.4% in July 2026 and the IMF points to persistent fiscal vulnerabilities; whether this limits further interest-rate cuts is a question to follow. Analysis891011

What to watch in money and prices
  • Decisions of the monetary policy committee.
  • Fuel prices.

Analysis1011

What to watch in agriculture
  • The actual 2025 cashew outturn, so far only a forecast.
  • Fertiliser prices.

Analysis101133

Energy and industry

The Mozal smelter was placed on care and maintenance after no affordable power deal could be agreed. Analysis17181920

What to watch in energy
  • The Cahora Bassa reservoir level.
  • Progress towards the 2034 target.

Analysis32

Tourism today

Visitor entries reached 1.27 million in 2025 versus 1.09 million in 2024 (about +15%), according to the Minister of Economy, with nationals of 29 countries exempt from the visa and an online pre-registration portal launched in February 2026; the inclusion of Saudi Arabia in the exemption list has not been verified. 3435

Sectors and areas for cooperation

Established sectors

  • Aluminium (Mozal)

    Aluminium exports of US$1.3 billion in 2025; the smelter has been on care and maintenance since 15 March 2026.17181920

  • Electricity

    Cahora Bassa has a capacity of 2,075 MW and supplies South Africa, Zambia, Zimbabwe, Malawi and Eswatini with electricity.32

  • Cashew and agriculture

    Cashew production of 177,650 tonnes in 2024.33

Analysis2

Applies to everything in this group: Announced.

  • Liquefied natural gas

    Coral South FLNG (Eni) has been producing since 2022.12131415

  • New gas projects

    Coral North (start-up targeted for 2028), TotalEnergies (first LNG targeted for 2029) and Rovuma LNG, whose final investment decision is not confirmed.12131415

Areas worth studying7

Applies to everything in this group: Area worth studying, not a ready-made opportunity.

  • Fuel and derivatives supply

    Mineral fuels are a category of Saudi exports to Mozambique; local and regional demand for them is a matter to study.21

  • Fertilisers and agricultural inputs

    Fertilisers are a category of Saudi exports to Mozambique; agricultural demand for them is a matter to study.101121

  • Raw materials and industrial minerals

    The Kingdom imports ores, slag and ash from Mozambique; whether this trade could be deepened is a matter to study.21

  • LNG supply-chain services

    Early contracts of about US$1.1 billion were awarded for Rovuma LNG (August 2026) and TotalEnergies announced a restart; the supply, financing, engineering and transport services these projects may generate are a matter to study.12131415

  • Cashew and food processing

    Output is forecast to rise in 2025 (a forecast, not a verified outturn); the viability of local processing is a matter to study.33

  • Development and Islamic finance

    Three Saudi Fund for Development loans for hospitals, a dam and a road were reported in 2023, with implementation not verified; needs in these fields are to be examined.8922

  • Solar energy and storage

    Cahora Bassa generation fell 30.7% in 2025; the scope for solar energy and storage is a matter to study.32

2026 growth: the budget target is 2.8% (December 2025) against an International Monetary Fund projection of 0.5% (June 2026). Both figures are shown; neither is adopted as the forecast, and neither is a realised result.

Sources differ on the date of first LNG from Rovuma LNG: 2030 according to JPT (November 2025) and 2031 according to Lusa (August 2026). The dossier does not adopt a date.

Press reports differ on the capital cost of Rovuma LNG (about US$30 billion versus about US$20 billion). The dossier uses no capital-cost figure for Rovuma LNG.

No current document from the Mozambican tax authority (Autoridade Tributária) was reviewed; the corporate income tax and VAT rates found in general references are therefore not published here as settled facts and are to be confirmed with the authority.

According to the file, the areas worth studying are inferred from data and are not ranked by priority; they are not ready-made opportunities or investment recommendations, and any that fall in the north depend on an independent security assessment.

With Saudi Arabia

Saudi Arabia and Mozambique

Topics in this section: Channels the file mentions · The trade dimension212223242526

This section documents announced facts from their official sources, with dates and status, without assessment.

Channels the file mentions

  • The Saudi embassy in Maputo
  • Mozambique's ambassador to the Kingdom (appointed)
  • The Saudi Fund for Development — loans reported in 2023 (implementation not verified)
  • The Federation of Saudi Chambers — an agreement to establish a joint business council (its operation has not been verified)

2223242526

The trade dimension

In 2025 Saudi exports to Mozambique included mineral fuels, plastics and fertilisers, and Saudi imports from Mozambique included ores, slag and ash, copper articles and aluminium. 21

Section facts and information — 10 entries
Saudi exports to Mozambique — 2025
SAR 824.9 million in 2025.Data year: 202521
Mineral fuels
SAR 578.9 million of Saudi exports to Mozambique in 2025.Data year: 202521
Plastics
SAR 104.1 million of Saudi exports to Mozambique in 2025.Data year: 202521
Fertilisers
SAR 89.5 million of Saudi exports to Mozambique in 2025.Data year: 202521
Saudi imports from Mozambique — 2025
SAR 212.4 million in 2025, down 4.6% (the comparison period is not stated).Data year: 202521
Ores, slag and ash
SAR 176.8 million of Saudi imports from Mozambique in 2025.Data year: 202521
Copper articles
SAR 26.9 million of Saudi imports from Mozambique in 2025.Data year: 202521
Aluminium
SAR 5.8 million of Saudi imports from Mozambique in 2025.Data year: 202521
Saudi exports — July 2026
SAR 29.6 million in July 2026, of which plastics SAR 21.6 million.Data year: 202621
Saudi Fund for Development loans
Three loans to Mozambique totalling US$150 million were reported in 2023: five hospitals, the Muera Dam and the rehabilitation of two sections of the N1 road. The implementation status has not been verified.Data year: 202322

Milestones

  1. 2026

    2026-05-28

    President Chapo appoints Mukhtar Mamade Abdulcarimo as Mozambique's ambassador to the Kingdom. · Unspecified 23242526

  2. 2023

    2023-11-11

    Saudi Fund for Development: three loans to Mozambique totalling US$150 million — five hospitals, the Muera Dam and the rehabilitation of two sections of the N1 road; the implementation status has not been verified. · Announced 22

  3. 2023

    2023-11-10

    President Nyusi attends the Saudi–Africa Summit. · Unspecified 23242526

Earlier record (4)
  1. 2023

    2023-03-05

    Agreement to establish a Saudi–Mozambican joint business council within the Federation of Saudi Chambers, focusing on agriculture, water, electricity, tourism, infrastructure and mining; it is an agreement to establish, and its operation has not been verified. · Announced 23242526

  2. 2023-03-04

    Crown Prince Mohammed bin Salman receives President Filipe Nyusi in Riyadh. · Unspecified 23242526

  3. 2023-03-04

    Mozambique publicly backs the Kingdom's bid to host Expo 2030. · Unspecified 23242526

  4. 2022

    2022

    The Saudi embassy in Maputo exists; its ambassador in 2022 was Fahd Aleisa, and the name of the current ambassador has not been verified. · Unspecified 23242526

What we do not know yet

  • The name of the current Saudi ambassador to Mozambique
  • The implementation status of the 2023 loans
  • Whether the joint business council is operating
  • The Hajj quota

Media and development

Media and development

Media and editorial perspectives

Context

Reporters Without Borders points to attacks on journalists during the unrest after the 2024 election, internet disruptions and near-impossible access to Cabo Delgado. 30

Humanitarian & Development

Saudi Fund for Development loans

Three loans to Mozambique totalling US$150 million were reported in 2023: five hospitals, the Muera Dam and the rehabilitation of two sections of the N1 road. The implementation status has not been verified. 22

Sources

Sources and updates

Sources cited on this page, numbered as they appear next to each item.

Last reviewed: 2026-10-07

This dossier is not legal, financial, investment or security advice. Political and security facts are presented as reported by their sources, without evaluation. Last fact check by the file's source team: 7 October 2026; the content here was matched to the supplied evidence register and the sources were not rechecked online.

As the file's source team describes its method: research, evidence documentation, analysis and editorial construction, then a final check of fast-changing information. Official sources, Saudi bodies and international institutions were relied on first, then data from the operating companies, then documented press where no original source was available. No Mozambique-specific project files were supplied for this edition.

Result of the 9 October 2024 election as announced by the Constitutional Council: a win for Chapo with 65.17%. Candidate Venâncio Mondlane rejected the results. Both positions are shown, attributed to their holders.

Death toll after the 2024 election: rights organisations reported about 300 in some reports and about 400 in others; the range of 300–400 is therefore shown as attributed to these organisations, not as an audited count.

The Cabo Delgado insurgency figures (deaths, displaced people and Rwandan troops) come from a secondary source, ADF Magazine (February 2026).

Office-holders' names are as given in the supplied register up to the last fact check by the file's source team (7 October 2026; the sources were not rechecked online here). The register notes that the source team found no ministerial reshuffle in 2026, and the names should be re-verified before being relied on.

Institution names are as given in the supplied register (2025–2026) and may change after a restructuring of ministries.

The summary of bodies and items in the investment framework does not replace legal and tax advice; requirements must be checked at the time of decision with the competent authorities and a licensed local adviser.

The FATF removal of Mozambique from its increased-monitoring list is a dated event and does not by itself mean that all compliance or investment conditions are met today.

Population is from projections by the National Institute of Statistics, and the Muslim share is from the 2017 census. Ethnic-group shares and language figures are not given, because the register used no census table for them.

Fast-changing information (the security situation, the composition of the government, taxes, exchange and interest rates) can lose currency quickly and should be checked with official bodies before any decision.

Source register (36)
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30

    RSF country page; general reference

    Media landscape — 21 Media

    Media · Published 2026 · Accessed 2026-10-07

    Cited in: Context · World Press Freedom Index 2026 · Size of the media landscape · Press · Public broadcasting · Televisão de Moçambique (TVM) · Rádio Moçambique

  31. 31
  32. 32
  33. 33

    Milling MEA (2025), citing government projections and Banco de Moçambique data

    Cashew — 13 Agriculture

    Official · Published 2025 · Accessed 2026-10-07

    Cited in: What to watch in agriculture · Cashew production — 2024 · Cashew production forecast — 2025 · Cashew export revenue — 2024 · Cashew and agriculture · Cashew and food processing

  34. 34

    360 Mozambique (22 Feb 2026)

    Tourism — 15 Tourism

    Media · Published 2026-02-22 · Accessed 2026-10-07

    Cited in: Island of Mozambique · Tourism today · Visitor entries — 2025 · Visa exemption

  35. 35

    UNESCO WHC

    Tourism — 15 Tourism

    International · Published 2026-02-22 · Accessed 2026-10-07

    Cited in: Island of Mozambique · Tourism today · Visitor entries — 2025 · Visa exemption

  36. 36

    World Bank

    World Development Indicators: Mozambique

    International · Published 2026-07-13 · Accessed 2026-10-07

    Cited in: Population · GDP · GDP per capita · GDP growth · Urban population · Population under 15 · Life expectancy · Access to electricity · Internet users