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Negcio Up-Grade

Tema de Fundo

Agro-negcios: Um novo domniode interesse empresarial

Praa de tourossem imagem condigna

PotenciaL energticocontra escassez de acesso

34 50

38

28 Petrleo, o eterno motorda economia angolana

Em menos de cinco anos, o sectorpetrolfero vai continuar a dar suportes taxas de crescimento da economiaangolana. Ao mesmo tempo, a

Economist Intelligence Unit revelaque a corrupo e a falta de capitalhumano funcionam como traves aodesenvolvimento de um sector privadodinmico.

32 O Fado tambm pedeesmolas?Cerca de 900 mil portugueses sofremno desemprego devido aos tentculosda crise econmica que assola o pas.Cidados outrora autossuficientesapelam hoje compaixo alheia,atravs do fado, para ganhar umasesmolas. O cenrio um espelho doquanto o pas est endividado e comoo Executivo altamente contestadopelo povo.

36 Eportaes fortalecemtentculos na LusofoniaExportar para o mercado lusfono uma soluo adoptada pelas empre-sas portuguesas perante o cenriopouco motivador que se vive na Euro-pa. Em 2012, as exportaes lusas paraAngola atingiram cerca de trs biliesde euros e para Moambique cerca de288 milhes de euros.

57 Uma oportunidade deempreender desconhecida

O Mecanismo de Subsdio Empresarial,que serve para dar suporte financeiroa novas iniciativas empreendedoras,surgiu em 2011. Passados dois anos, oseu fundo foi muito pouco solicitado.Facto curioso, principlamente numaaltura em que o acesso ao crdito con-tinua a ser apontado como o principalobstculo pelos empresrios.

Capa

Energia vs Acesso

Sumrio

proredde e Edo: Mozmedia, Lda., Av. MaoTsTung, 1245 Telefone/Fax: (+258) 21 303188 [email protected] Drecor Ger: Andr Dauane [email protected] Drecor Edor:HelgaNeidaNunes helga.nunes@mozmedia. Drecor Execuv: VanizeManjate - [email protected] co.mz Redco: ArsniaSithoye - [email protected];Srgio Mabombo [email protected] Secrerdo admnsrvo: Indira Muss [email protected]; Cooero: CTA; Ernst &Young; FerreiraRocha e Associados; PriceWaterHouseCoopers, ISCIM, INATUR, INTERCAMPUS Counss: Antnio Batel Anjo, E. Vasques;Elias Matsinhe; Federico Vignati; Fernando Ferreira; Hermes Sueia; Joca Estvo; Jos V. Claro; Leonardo Jnior; LeviMuthemba; Maria Uamba; Mrio Henriques; NadimCassamo (ISCIM/IPCI); Paulo Deves; Ragendra de Sousa, Rita Neves,Rolando Wane; Rui Batista; Sara L. Grosso, Vanessa Loureno; Foogrf: Lus Muianga, Amndio Vilanculo; Gettyimages.pt, Google.com; iusres: Marta Batista; Pinto Zulu; Raimundo Macaringue; Rui Batista; Vasco B. C: EvolutionStudio pgno: Arlindo Magaia Desgn e Grfsmo: Mozmedia trduo:Janetra Servios, E.I. DermenoComerc: Neusa Simbine [email protected], LoniMachava [email protected] ; Dsrbuo:m [email protected]; Mozmedia, Lda.; Mabuko, Lda. Regso: N. 046/GABINFO-DEC/2007 - trgem:7.500 exemplares. Os artigos assinados reflectem a opinio dos autores e no necessariamente da revista. Toda atranscrio ou reproduo, parcial ou total, autorizada desde que citada a fonte.

Destaques


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Capital Mgzne JUNHO 2013 7

Minas

Desenvolvimento

Estilos de Vida

FMI defende ampliao da basede receitas dos projectos mineiros

Um verdadeiroapaixonado pelo Direito

58

64

72

Editorial

Bem-vindoO poder da energia

A organizaointegrada do tomate

industrial

Osector da electricidade em frica representa um grandedesao. Actualmente, o acesso electricidade na fricaSubsaariana de apenas 25 por cento, ao passo queno sul da sia de 50 por cento e na Amrica Latinachega a 80 por cento. De acordo com as actuais taxasde acesso energia, prev-se que a maior parte dos

estados africanos venham a falhar a meta do acesso universal electricidade em 2050.

O consumo de energia elctrica na frica Subsaariana, a 120kilowatts-hora (kWh) por pessoa e por ano, claramente ina-dequado, pois fornece energia apenas durante duas horas pordia a cada cidado. Mesmo para os poucos que tm acessso electricidade, o fornecimento dispendioso e falvel. Por outrolado, cerca de 30 pases africanos registam cortes crnicos deenergia, e nos estados mais afectados os custos econmicosdos cortes podem ascender a mais de 5 por cento do PIB.So precisos investimentos massivos para expandir a capacida-de de gerar electricidade. frica ir necessitar de instalar cercade 7,000 megawatts (MW) de capacidade para gerar nova ener-gia por ano, um nmero considervel tendo em conta que, nasltimas dcadas, a expanso cingia-se a menos de 1,000 MW/ano. Hoje, o investimento total exigido pelo sector da energia

em frica atinge os 40 bilies de dlares/ano.A melhor forma de expandir o portfolio do sector em frica irpassar pela comercializao de energia em termos regionais ea aposta tambm ir recair sobre as suas potencialidades emtermos de energias renovveis.A esse nvel, Moambique revela maiores probabilidades de vira ser rentvel enquanto fornecedor de energia solar, e, segundoum estudo desenvolvido pelo BAD, o nosso pas encontra--se entre os cinco pases africanos com maior potencial paraproduzir energia elica, a par da Tanznia, Angola, frica do Sule Nambia.Torna-se premente aproveitar o enorme potencial do Pas emtermos de recursos energticos, como forma de permitir quemais moambicanos tenham acesso electricidade. Facto que

naturalmente implica avultados investimentos.A EDM precisa de 600 milhes de dlares, por ano, para imple-mentar projectos de produo e distribuio de energia elc-trica. Mas, enquanto o potencial energtico de Moambiqueno se concretiza em pleno, apenas quatro de um universo de23 milhes de moambicanos tm acesso energia elctrica egrandes empresas reclamam que a energia insuciente paraassegurar o processo produtivo.Sem energia, ca difcil atingir o desenvolvimento.c


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30 Oil, the eternal engineof the Angolan economIn less than five years, the oil sectorwill continue to support the growthrates of the Angolan economy. At thesame time, the Economist IntelligenceUnit reveals that corruption and lack ofhuman capital act as brakes to the de-velopment of a dynamic private sector.

33 Fado is also a beggar?About 900,000 Portuguese are unem-ployed due to the tentacles of theeconomic crisis plaguing the country.Citizens who were formerly self-suffi-cient now appeal to the compassionof others, through fado, in order to getsome alms. The scenario is a picture ofhow the country is in debt and how the

executive is highly contested by thepeople.

37 Eports strengthententacles in the PortugueseSpeaking CountriesExports to the Portuguese SpeakingCountries are thought to be the solu-tion adopted by Portuguese compa-nies at the time of the crisis in Europe.In 2012, Portuguese exports to Angolaand Mozambique totalled about threebillion Euros and about 288 millionEuros respectively.

57 An opportunit for the

unknownThe Enterprise Allowance Facility, whi-ch serves to provide financial supportto new entrepreneurial initiatives,came up in 2011. After two years, itsfunds were requested the least. This iscurious, particularly a time that accessto credit is still pointed out as the mainobstacle for entrepreneurs.

Highlights

proery nd Edon: Mozmedia, Lda., 1245 MaoTsTung Av., Telephone/Fax: (+258) 21 303188 [email protected] Mngng Drecor: Andr Dauane [email protected] Edor Drecor: HelgaNeida Nunes helga.nunes@mozmedia. Execuve Drecor:VanizeManjate - [email protected] co.mz Edor Sff: ArsniaSithoye - [email protected]; Srgio Mabombo [email protected] admnsrve Secrer: Indira Muss [email protected]; Cooeron: CTA; Ernst &Young;Ferreira Rocha e Associados; PriceWaterHouseCoopers, ISCIM, INATUR, INTERCAMPUS Coumnss: Antnio Batel Anjo, E.Vasques; Elias Matsinhe; Federico Vignati; Fernando Ferreira; Hermes Sueia; Joca Estvo; Jos V. Claro; Leonardo Jnior;Levi Muthemba; Maria Uamba; Mrio Henriques; NadimCassamo (ISCIM/IPCI); Paulo Deves; Ragendra de Sousa, RitaNeves, Rolando Wane; Rui Batista; Sara L. Grosso, Vanessa Loureno; phoogrhy: Lus Muianga, Amndio Vilanculo;Gettyimages.pt, Google.com; iusrons: Marta Batista; Pinto Zulu; Raimundo Macaringue; Rui Batista; Vasco B. Cover:Evolution Studio pge mke-u: Arlindo Magaia Desgn nd Grhcs: Mozmedia trnson: Jner Servos, E.i.Commerc Dermen: Neusa Simbine [email protected], Loni Machava [email protected] ; Dsrbuon: mpia [email protected]; Mozmedia, Lda.; Mabuko, Lda. Regsron: N. 046/GABINFO-DEC/2007- prnng: 7.500 copies. The articles reflect the authors opinion, and not necessarily the magazines opinion. All transcriptor reproduction, partial or total, is authorised provided that the source is quoted.

Contents

Business Up-Grade

Background Theme

Agribusiness: A new area of busi-ness interest

Praa de touros (the Bullring)without decent image

Energy potentialagainst lack of access

35 52

40

Cover

Energy vs Access


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Capital Mgzne JUNHO 2013 11Capital Mgzne JUNHO 2013 11

The electricity sector in Africa is a major challenge.Currently, access to electricity in Sub-Saharan Africa isonly 25 percent, while in South Asia is 50 percent andin Latin America is 80 percent. According to the currentrates as regards access to energy, it is expected thatthe majority of African states will fail to meet the target

regarding universal access to electricity by 2050.It should be noted that the electricity consumption in Sub-

-Saharan Africa, 120 kilowatt-hours (kWh) per person per year,is clearly inadequate because it provides energy for only twohours a day to every citizen. Even for fewer who have access toelectricity, the supply is unreliable and expensive. Furthermo-re, about 30 African countries are experiencing chronic powercuts, and in the most aected countries, the economic costs of power cuts could amount to more than 5 per cent of the GDP.

Massive investments are needed in order to expand the capa-city for generating electricity. Africa will need to install about7,000 megawatts (MW) of new capacity to generate energyper year. This is a considerable number given that, in recent de-cades, the expansion was only limited to less than 1,000 MW/year. Today, the total investment required by the energy sectorin Africa reaches 40 billion dollars/year.

The best way to expand the portfolio of the sector in Africarequires energy trading in regional terms and the bet will alsobe on its potential in terms of renewable energy.

At this level, Mozambique reveals higher probability of beingprotable as a supplier of solar energy, and, according to a stu-dy conducted by ADB, Mozambique is among the ve Africancountries with the greatest potential to produce wind energy,together with Tanzania, Angola, South Africa and Namibia.

The enormous potential of the country in terms of energy re-sources should urgently be seized so that more Mozambicanscan have access to electricity. It goes without saying that forthat to happen huge investments have to be made.

EDM needs 600 million dollars per year in order to imple-ment projects directed to the production and distribution ofelectricity. But while the energy potential of Mozambique isnot realized in full, only four out of 23 million Mozambicanshave access to electricity and large companies complain thatthe energy is insucient to ensure that the production processis takes place. It can be said that without energy, it is dicult toachieve development.c

WelcomeThe power of energy

Editorial

Mining

Development

Life of Stle

IMF advocates for the broadening of the miningprojects revenue portfolio

60

66

74

The tomatoprocessing commodity

A true passion for Law


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Banca BCI

BCI relana Carto Tako,com nova imagem

Vs de bxo

do Edfco Sede

Cro de Crdotko

OBCI iniciou uma CampanhaPublicitria de relanamentodo Carto de Crdito Tako,que ressurge com uma novaimagem e com a incorpora-o da moderna tecnologia

Chip EMV, oferecendo maior segu-rana aos titulares.

O novo carto Tako d respostas necessidades de todos osmoambicanos que procuram ummeio de pagamento moderno,seguro, conveniente e funcional comacesso a crdito gratuito at 50 dias,de 2.500 a 35.000 Meticais.

O relanamento do Tako comnova imagem e chip refora o

posicionamento do BCI enquantoBanco Universal e inovador,garantindo ainda a oferta da primeiraanuidade aos Clientes que recebamo seu vencimento ou penso no BCI.

O carto Tako possibilita opagamento de compras a crditoem Moambique e no estrangeiro,

em estabelecimentos comerciaisidenticados com o smbolo VISA,para alm de levantamentos denumerrio a crdito (cash-advance)em ATM. Pode consultar maisinformaes acerca do carto Takoem www.bci.co.mz, atravs do servioBCI Directo (82/841224) ou emqualquer Agncia do BCI..c


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Banking BCI

BCI has begun an AdvertisingCampaign to re-launch theCredit Card, Tako, which reap-pears with a new image andthe incorporation of a mod-ern EMV Chip technology,

oering greater security to holders.

The new card, Tako, meets the needsof all Mozambicans seeking a meansof payment that is modern, safe,convenient and functional withaccess to free credit up to 50 days,MT 2500-35000.

The revival of Tako with a new imageand chip reinforces the positioning ofBCI while a Universal and innovativeBank, ensuring the oer of the rstannuity to Customers who receivetheir salary or pension through BCI.

The card enables payment ofpurchases on credit in Mozambiqueand abroad, in commercialestablishments identied withthe symbol VISA, besides cashwithdrawals on credit (cash advance)in ATM. For more information aboutthe card, Tako, refer to www.bci.co.mzthrough BCI Direct service (82/841224) or in any BCI branch..c

BCI re-launches the CreditCard, Tako,with a new image

he CredCrd tko



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COISAS QUE SE DIZEM

EM alta

M GESTO DE ExPECTACTIVAS Com estas opes, vai ser muitodifcil gerir as expectativas dos cidados e justificar porque a popula-

o maioritariamente pobre do pas deve esperar tanto tempo paraver a sua vida mudar enquantos os grandes projectos vo extrandopropores abismais da riqueza gerada pelo pas.Rogrio Ossemane, economista e investigador, tecendo comen-trios sobre a contribuio dos mega-projectos para o fisco.

EMPRESRIOS SEM TACHO No pode haver desenvolvimen-to efectivo de Moambique sem os moambicanos. H necessida-

de de polticas claras de incluso de moambicanos nos projectosestruturantesRogrio Manuel, presidente da Confederao das AssociaesEconmicas de Moambique (CTA).

EM BaiXa

COMPUTADOR DzOWO O projectoque previa a construo de umafbrica para montar computadores emMoambique entrou em colapsodevido a um desacordo entre oGoverno moambicano e o seuparceiro sul-africano, SaharaComputers. O computador foi lanadopelo Ministrio da Cincia eTecnologia, em 2009, e na altura foinomeado Dzowo em homenagem aEduardo Mondlane. Consta que aempresa sul-africana queria ummonoplio no fornecimento decomputadores para o mercadomoambicano.

VANDALISMO Um grupo deindivduos vandalizou no povoado deCavulacie, distrito de Songo (Tete),uma torre de transporte de energiaelctrica da linha de transmisso queliga as subestaes dos distritos deSongo e Matambo. A vandalizaocoloca em risco a transmisso deenergia para as regies Centro e Nortedo pas.

Capitoon

BRINCAR DE FUGA AO FISCO Em que territrio esto os activostransaccionados (pela petrolfera ENI)? Se h lacunas na lei sobre atributao do negcio tem que haver uma negociao. O pas deveganhar com estas transaces,Jenik Radon, conceituado jurista e docente universitrio norte--americano, comentando a recusa da ENI em pagar impostos demais-valias na transaco do bloco de gs na Bacia do Rovuma.

CORRUPO NOJENTA Qualquer pessoa decente em Moam-bique, quem viveu e vive a tradio da Frelimo, sente-se enojadocontra a pequena, mdia e grande corrupo, as comisses infa-mes pagas de baixo da mesa, os enriquecimentos ilcitos contra leie a moral.Coronel Srgio Viera, em entrevista ao Savana.

ENERGIA LIMPA O Grupo sul-coreanoHyosung assinou um contrato no valor de 85milhes de dlares americanos com o governomoambicano para fornecer solues deenergia limpa. O grupo vai construir umacentral de energia solar para o FUNAE comcapacidade de 1.3 megawatts, que ser a maiordo gnero em frica e que vai comear aoperar no m de 2014.

INDSTRIA DO CAJ O Governomoambicano aprovou um Plano Director doCaj II, um instrumento que visa acelerar arevitalizao da indstria do caj. O Executivoespera que, dentro de 10 anos, o pas venha aprocessar 100 mil toneladas da castanha decaj, contra as actuais 30 mil, enquanto aproduo global dever atingir as 182 mil tone-ladas, contra as 112 mil toneladas alcanadasem 2011.


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CASHEW INDUSTRy The Mozambicangovernment has approved a Cashew MasterPlan - II, a tool that aims to accelerate therevitalization of the cashew industry. TheExecutive board hopes that within 10 years, thecountry will process 100 tons of cashew nuts,against the current 30 000, while the globalproduction is expected to reach 182,000 tons,against 112,000 tons achieved in 2011.

ThIngS pEOplE SAy

UpWaRDS

POOR MANAGEMENT OF ExPECTATIONS With these options, it willbe too difficult to manage the citizens expectations and justify why

the countrys population, whose majority is poor, should wait quite along time to see changes in their lives, while major projects are ex-tracting abysmal proportions from the countrys generated wealth,Rogrio Ossemane, economist and researcher, commenting onthe mega-projects contribution to the revenue.

BUSINESS PEOPLE WITHOUT FOOD There cant be effective de-velopment of Mozambique without Mozambicans. Clear policies

for the inclusion of Mozambicans in structuring projects must beput in place.Rogrio Manuel, chairman of the Confederation of EconomicAssociations of Moambique (CTA).

DOWNWaRDS

DzOWO COMPUTER The projectfor building a factory to assemblecomputers in Mozambique hascollapsed due to a disagreementbetween the Mozambican governmentand its South African partner, SaharaComputers. The computer factory waslaunched by the Ministry of Scienceand Technology in 2009 and at thetime it was named Dzowo in honourof Eduardo Mondlane. Reportedly, theSouth African company wanted amonopoly in the supply of computersfor the Mozambican market.

VANDALISM A group ofindividuals has vandalized, in thevillage of Cavulacie, District of Songo(Tete), a tower carrying electricitytransmission line that connects thesubstations of the districts of Songoand Matambo. The vandalism hasjeopardized the power transmission tothe Central and Northern regions ofthe country.

PLAyING AROUND WITH TAx AVOIDANCE In what territory are theassets traded (by the oil company ENI)? If there are gaps in the law onbusiness taxation, there must be negotiation. The country must be-nefit from these transactions,Jenik Radon, highl respected American legal specialist and uni-versit lecturer, commenting on ENIs avoidance of paing taesin the transaction of the Rovuma Basin gas block.

DISGUSTING CORRUPTION Any decent person in Mozambique,who lived and lives Frelimos tradition, feels annoyed by the small,medium and major corruption, the infamous commissions paidunder the table, the illicit enrichment against the law and the mo-ral,Colonel Srgio Viera, in an interview with Savana newspaper.

CLEAN ENERGy The South Korean HyosungGroup has signed a contract worth 85 milliondollars with the Mozambican government inorder to provide clean energy solutions. Thegroup is expected to build a solar power stationto FUNAE with a capacity of 1.3 megawatts.This is expected to be the largest of its kind inAfrica and will start operating in late 2014.

Capitoon


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Av. 25 de Setembro Nr. 2009

Caixa Postal Nr. 2183Tel. +258 21309068/328998Fax. +258 21328997/333809

[email protected] - Moambique

A mais de 13 anosa proporcionar

os mais altos padresde Servios,com Produtos

de Qualidade, Preos Competitivos,Ideias Inovadoras,

atendimento personalizado

MOAMBIQUE TANZANIA

CHIPRE SWAZILNDIA

DELEGAESQuelimane,

Tete e Nampula


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Vokswgen v crr 50 mnovos osos de rbho 2018

A FABRICANTE alem de automveisVW aumentar para 600 mil onmero de trabalhadores da empresacom o objectivo de se tornar ldermundial do sector at 2018, sendo

que os novos empregos iroconcentrar-se mais na China do quena Europa.Sabe-se que a marca Volkswagencontratar mais 50 mil trabalhadoresat 2018 e que pretende aindaduplicar a sua produo na China. Noltimo ano, a empresa vendeu 9.1milhes de veculos e tenciona, at2018, ultrapassar a japonesa Toyota.

A aposta na China decorreda diminuio da procura deautomveis na Europa, emconsequncia da crise econmicae nanceira que assolou o Velho

Continente.Na China, a empresa concentra jperto de 300 mil trabalhadores, oque corresponde a mais de metadeda mo-de-obra da Volkswagen forada Alemanha. A Autoeuropa, quepertence ao agrupo alemo e amaior unidade industrial portuguesa,emprega cerca de 3 mil pessoas emPalmela (Setbal).c

A Confraria dos Financeiros de Paris deslocou-se a Moambique como Mouvement des Entreprises de France para estabelecer contactos comMoambique, que conta com uma reserva de gs natural superior Arglia.

Briefng MUNDO

Frana desperta para mercado moambicano

UM ESTUDO do Bundesbank concluique o patrimnio das famlias alems inferior ao das espanholas eitalianas, facto que foi extremamentecriticado na Alemanha por se basearnuma metodologia consideradapouco vel.Uma edio da revista Spiegelrevela que o estudo do BancoCentral alemo revela uma srie

de problemas metodolgicos,nomeadamente no que se refere aouniverso abrangido pelo patrimnioconsiderado e s datas de referncia.De acordo com o Bundesbank,as famlias alems detm, emmdia, 195.200 euros, enquantoas francesas detm 229.300 eurose as espanholas 285.800 euros. Opatrimnio mediano (o nvel acimado qual se situa a mdia das famlias)seria apenas de 51.400 euros naAlemanha, ou seja, duas a trs vezes

menos do que em Frana (113.500),em Espanha (178.300) e na Itlia(163.900).Face a estes nmeros, que suscitaramespanto, a principal explicaoapontada pelo Bundesbank passapela baixa proporo de alemesproprietrios de casa em comparaocom outros pases da Europa. Apenas44,2% dos alemes dono dasua habitao, contra 57,9% dosfranceses e 82,7% dos espanhis, deacordo com o Banco Central alemo,

que estima que os proprietriosimobilirios so, em mdia, maisricos do que os outros.c

Esudo sobre rcos cr

bruho n Euro


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Briefng MUNDO/WORLD

O DEPARTAMENTO de Patentes e MarcasRegistadas dos Estados Unidos (USPTO,na sigla inglesa) recusou um pedido daApple para patentear o seu iPad Mini. OUSPTO informou a tecnolgica da suadeciso atravs de uma carta, na qualargumenta que o termo mini meramente descritivo.De acordo com o departamento, amarca que a Apple quer patentear

Dvd bc do Jo

nsusenve

O GOVERNADOR do Banco Central doJapo, Haruhiko Kuroda, consideraque a dvida pblica do Japo, 230%do PIB, e a maior entre as economiasindustrializadas, anormal e insus-tentvel.Acredito que extremamente elevada(a dvida pblica), sendo esta situaoanormal e insustentvel, armou onovo governador do banco centraljapons.Para equilibrar a balana e melhorar aeconomia do pas, o Governo japonstem adoptado medidas de estmulo

mais agressivas. Este ano, o Gover-no do Japo aprovou um pacote de

estmulos no valor de 100 bilies dedlares.As medidas de estmulo anunciadasvisam alcanar uma inao anual de2%, num perodo de aproximadamen-te dois anos. Contudo, existe o receiode que estas medidas aumentem ain-da mais a dvida pblica do Japo.c

auordde nore-me-rcn recus rbur

ene ae

para ter a sua exclusividade comerciallimita-se a descrever uma funo ou

caracterstica, e, por conseguinte, nocria um signicado nico.A legislao norte-americana abreespao para a Apple recorrer da decisoda autoridade norte-americana depatentes e marcas e vencer a causa,caso tenha argumentos slidos. A Appleapresentou, em Outubro passado, o iPadMini, uma verso mais pequena, maisleve e mais barata do que o popular iPad,com prestaes semelhantes ao iPad2,e com o qual quis entrar no mercadode tablets de bolso, dominado pelo

sistema Android da Google. O gigantecaliforniano mantm uma batalhalegal com a companhia sul-coreanaSamsung - o seu principal concorrente- por acusaes mtuas de violao depatentes em tribunais pertencentes auma dezena de pases.c

France awakens to the Moambican Market

The Paris Financial Groups Brotherhood together with the Mouvement desEntreprises de France have visited Mozambique to forge links with this countrythat has a larger natural gas reserve than Algeria.

Vokswgen w genere 50 housnd new jobs by 2018

THE GERMAN car manufacturer, VW, willincrease by 600 thousand the number of

the company employees with a view tobecome the world leader in the sector by2018, and the new jobs will be moreconcentrated in China than in Europe.It is known that the Volkswagen brandwill hire 50 thousand more employees by2018, and it is the companys intention todouble its production in China. Last year,the company sold 9.1 million vehiclesand it intends to outnumber the Japanese

Toyota by 2018.The commitment in China is a result of the

decrease in demand of cars in Europe dueto the economic and nancial down turn inthat Old Continent. In China, the companyalready has close to 300 thousandemployees, which is more than a half of theVolkswagen labour force outside Germany.Autoeuropa, which belongs to the GermanGroup and is the biggest PortugueseIndustrial Unit, employs about 3 thousandpeople in Palmela (Setbal).c


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Briefng WORLD

Rch eoes sudy

rses nose n EuroeA STUDy by Bundesbank has con-

cluded that German householdsassets are less than the Spanish andItalians, which was extremely criti-cised in Germany for the methodol-ogy applied is believed to have beenless reliable.Spiegel magazines edition statesthat the German Central Bank revealsa number of methodology issues, inparticular with regard to the sample

of the assets considered as well asthe reference dates.According to Bundesbank, Germanfamilies have, in average, 195,200,whereas French families have229,300, and Spanish families285,800. The average assets (thelevel above which the average offamilies are) would only be 51,400in Germany, i.e. two times lowerthan in France (113,500), Spain(178,300) and Italy (163,900).In light of these gures, which raise

astonishment, the main explanationprovided by the Bundesbank has todo with the fact that the portion ofthe Germans owning a house is lessthan that in other European coun-tries. Only 44.2% of the Germansown a house if compared to 57.9%of the French and 82.7% of theSpanish, according to the GermanCentral Bank, which estimates thatthose who own houses are in averagericher that those who do not.c

the Jnese pubc Deb s unsusnbe

THE JAPANESE Central Bank Gover-nor, Haruhiko Kuroda, considers thatthe Japanese public debt, 230% ofGDP, is the biggest among the indus-trialised economies and that it isabnormal and unsustainable.I believe that this (the public debt) isextremely high, and this situation isabnormal and unsustainable, saysthe new Japanese Central Bank Gov-ernor.To strike the balance and improve

the countrys economy, the Japanesegovernment has been adoptingmore aggressive stimulus measures.This year, the Japanese Governmentpassed a stimulus package of 100billion dollars.The objective of the announcedstimulus measures is to achieve anannual ination of 2% in approxi-mately two years. However, there isfear that these measures may furtherincrease the Japanese public debt.c

the Uned Ses auhoryrefuses o wrd ae en

THE UNITED States Patent andTrademark Oce (USPTO) turneddown Apples application to patenttheir iPad Mini. USPTO informed thetechnology of their decision through

a letter in which they argued that theterm mini is simply descriptive.According to the oce, the brandthat Apple wants to patent in orderto have its market exclusivity merelydescribes a function or feature, anddoes not therefore create a uniquemeaning .The United States legislation pro-vides opportunity for Apple to ap-

peal the patent and trademark au-thoritys decision and win the case, ifit has sound argument.Last October, Apple presented aniPad Mini, a smaller, lighter and

cheaper version than the populariPad, with iPad2 similar functions,with which it wanted to enter thepocket tablets market, dominatedby the Google Android system. TheCalifornian giant has a legal battleagainst the South Korean company,Samsung, its main rival, by mutualaccusations of patents violation incourts in ten countries.c


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Briefng FRICA

O NOVO banco de desenvolvimentoanunciado na cimeira do grupo BRICS,realizada em Durban, na frica do Sul,dever financiar 10 projectos emfrica. Os projectos sairo de umalista de 50 que ir ser elaborada pelo

chefe de Estado senegals, MackySall, presidente em exerccio da NovaParceria para o Desenvolvimento defrica (NEPAD).O grupo dos BRICS (Brasil, Rssia,ndia, China e frica do Sul)realizou a V cimeira em Durban, e aaprovao da criao de um bancode desenvolvimento prprio foianunciada no final dos trabalhos peloanfitrio da reunio, o presidente sul-africano, Jacob Zuma.A contribuio de cada pas-

membro bem como o capital dobanco ainda esto por determinar,sendo que a instituio ir servircomo complemento a instituiesfinanceiras internacionais jexistentes, como o Banco Mundial(BM) e o Fundo MonetrioInternacional (FMI), que os BRICSconsideram ser excessivamentecontrolados pelos EUA e Europa.c

Bnco dos BRiCSfnnc 10 rojecosem frc

avo d dvd sobern

r nvesmeno Mombque e angoANGOLA e Moambique esto entreos pases da frica Austral que tmvindo a registar um aumento doinvestimento directo estrangeiro(IDE), por terem as respectivas dvidaspblicas sujeitas avaliao de umnmero crescente de agnciasinternacionais de notao de risco, deacordo com a Fitch Ratings.Em estudo divulgado, a agnciade notao de risco comparou a

trajectria do IDE em pases africanoscuja dvida soberana avaliada (quehoje so 20, quando em 1994 a fricado Sul era caso nico) com os que

no so seguidos pela Fitch Ratings,Moodys ou Standard & Poors.Em 15 anos, o IDE passou de 6bilies de dlares por ano para35 bilies de dlares em mdia,beneficiando das notaes de riscodas dvidas soberanas, que do maiorestabilidade a este fluxo.O estudo revela ainda que o aumentoacentuado do IDE para a fricaAustral, nos ltimos 15 anos, reflecteo aumento dos preos das matrias-primas e as descobertas de recursosminerais, e, mais recentemente, oaumento das despesas das famlias.c

COMMODITIES

Congo-Braaville recebemais investimento da Total

CONGO-BRAzzAVILLE vai receber um investimento do grupo francs Total aonvel das infraestruturas de extraco petrolfera. Esto previstos 10 mil milhesde dlares de investimento para que o pas consiga uma produo suplementarequivalente a 140 mil barris de petrleo/dia, a partir de 2017.A Total anunciou o desenvolvimento do projecto Moho Nord, que inclui odesenvolvimento da fase 1 do bloco Moho-Bilondo e as obras de expansodevero arrancar em 2015. Nas novas exloraes prev-se que existam reservassuplementares na ordem dos 485 milhes de barris. A Total est no Congo-Brazzaville desde 1968 e o primeiro operador petrolfero naquele territrio,operando em 10 dos 22 campos petrolferos activos. A Total tem cerca de 60% dovolume de extrao de petrleo naquele pas francfono.c


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Briefng FRICA/AFRICA

ango sobe r quro

mor roduor de dmnesANGOLA o quarto maior produtor dediamantes mundial em quantidade,armou o secretrio executivo daAssociao dos Pases AfricanosProdutores de Diamantes (APAPD),Edgar Diogo de Carvalho.Com uma produo de oito milhes dequilates, por ano, Angola ultrapassadapelo Botsuana (38 milhes de quilates),pela Rssia (35 milhes de quilates) epela Repblica Democrtica do Congo,

com 30 milhes de quilates.No entanto, em termos de valor,

mantm o terceiro lugar, sendo apenassuplantada pelo Botsuana e pela fricado Sul. A aparente contradio derivado facto dos diamantes extrados naRepblica Democrtica do Congoproporcionarem um rendimentoinferior ao obtido por Angola. Angolaobtm 1 bilio de dlares com 8milhes de quilates, ao passo quea Repblica Democrtica do Congo,com uma produo de 30 milhes de

quilates factura aproximadamente 960milhes de dlares.c

ls dos ses mores roduores mund de dmnes

Maiores produtores em 2012 Maiores produtores em 2013

1 Botsuana Botsuana

2 Rssia Rssia

3 R.D. Congo R.D. Congo

4 frica do Sul Angola

5 Angola frica do Sul

6 Canad Canad

DESTAQUE

Malawi com ligaoelctrica a Moambique

O Malawi vai dispor de uma

interligao elctrica comMoambique, nos termos deum acordo assinado pelos doispases em Lilongu, e a suaexecuo ir custar mais de 90milhes de dlares. Financiadopelo Banco Mundial, pela Suciae outros parceiros internacionais,o projecto ir permitir fornecerenergia de Cahora Bassa aoMalawi e a outras regies do nortede Moambique.c

BRiCS Bnk fnnces 10 rojecs n afrc

THE NEW development bank hasannounced, at the summit of theBRICS group, held in Durban, SouthAfrica, that it expects to finance 10projects in Africa. The projects willcome out of a list of 50 which will beprepared by the Senegalese head ofstate, Macky Sall, President of theNew Partnership for Africas

Development (NEPAD).The BRICS group (Brazil, Russia, India,China and South Africa) held the Vsummit in Durban and the approval ofthe establishment of a developmentbank itself was announced at theend of the work by the host of themeeting, the President of SouthAfrica, Jacob Zuma.The contribution of each member

country and the capital of the bankare still to be determined, and theinstitution itself is expected to serveas a complement to the existinginternational financial institutionslike the World Bank (WB) and theInternational Monetary Fund (IMF),which the BRICS consider them asbeing excessively controlled by theU.S.A and Europe.c

Rng soveregn debrcs nvesmen oMozmbque nd ango

ANGOLA and Mozambique areamong the countries of southernAfrica that have been experiencing anincrease in foreign direct investment(FDI), by having their public debtsubject to the assessment of agrowing number of credit rating

international agencies, according toFitch Ratings.In the study that was reported, thecredit rating agency compared thetrajectory of FDI in African countrieswhose sovereign debt is assessed(which are now 20, while in 1994South Africa was the only case) withthose that are not followed by FitchRatings Moodys or Standard & Poors.


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Briefng AFRICA

Malawi will have an electrical interconnection with Mozambique, under anagreement signed by the two countries in Lilongwe, and its implementationwill cost over 90 million dollars. Funded by the World Bank, Sweden and otherinternational partners, the project will enable the supply of power from CahoraBassa to Malawi and other parts of northern Mozambique.c

In 15 years, FDI increased from US$6 billion per year to US$35 billion on

average, benefiting from the creditratings of sovereign debt, which givegreater stability to this flow.The study also shows that the sharp

increase in FDI for Southern Africa,over the last 15 years, reflects the

rise in prices of raw materials anddiscoveries of mineral resources,and, more recently, the increase inhousehold expenditure.c

COMMODITIES

Congo-Braaville receivesfurther investment from Total

CONGO-BRAzzAVILLE is expected to receive an investment from the French groupTotal at the level of oil extraction infrastructure. It is also anticipated that US$10 billionwill be invested in the country so that it can achieve an additional productionequivalent to 140,000 barrels of oil/day from 2017.Total has announced the development of the Moho Nord project, which includes thedevelopment of phase 1 of Moho-Bilondo block and the expansion works are due tostart in 2015. It is thought that in the new explorations there might additional reservesof around 485 million barrels. Total has been in Congo-Brazzaville since 1968 and itis the rst oil company in that territory, operating in 10 out of the 22 active oil elds.Total has about 60% of the volume of oil extraction in that francophone country.c

ango rses o fourh

arges damond roducer

Angola is the fourth largest diamondproducer in the world in number,said the executive secretary of the

Association of African DiamondProducing Countries (APAPD), EdgarDiogo de Carvalho.With an output of eight million caratsper year, Angola is exceeded byBotswana (38 million carats), Russia(35 million carats) and the DemocraticRepublic of Congo, with 30 millioncarats.However, in value terms, it holds thethird place, being surpassed only byBotswana and South Africa by theapparent contradiction stems from the

fact that the diamonds mined in theDemocratic Republic of Congo providea lower yield than that obtainedby Angola. Angola gets one billiondollars with 8 million carats, while theDemocratic Republic of Congo, witha production of 30 million carats getsapproximately 960 million dollars.c

Top producersin 2012

Top producersin 2013

1 Botswana Botswana

2 Russia Russia

3 D.R. Congo D.R. Congo

4 South Africa Angola

5 Angola South Africa

6 Canada Canada

HIGHLIGHT

ls of he sx mjor word dmondroducers

Malawi with electrical connection to Moambique


25/80


Briefng MOAMBIQUE

txs dos erooros

ms crs

A EMPRESA Aeroportos deMoambique (ADM) vai agravar astaxas de aterragem de voos, ainda esteano, como forma de assegurar oretorno dos investimentos nareabilitao dos aeroportos, cujosinvestimentos ultrapassam os 350milhes de dlares nos ltimos cincoanos.O Executivo j aprovou as novastaxas de passageiros. A taxa para voosdomsticos passar para 13 dlares

por passageiro, contra os actuais 10,sendo que a dos voos internacionaisir subir de 30 para 35 dlares.A estratgia de recuperao dosinvestimentos, segundo a ADM, no secircunscreve apenas no agravamentodas tarifas de aterragem. Contemplaainda a melhoria das infraestruturasaeroporturias no sentido de torn-las atractivas adeso de novascompanhias areas. neste quadroque a pista do Aeroporto de Maputoser reabilitada em 2014.c

Coc-Co vqudrucr roduoem Mombque

A COCA-COLA dever quadruplicar asua produo em Moambique, apartir de 2015, data em que dever

entrar em funcionamento a novafbrica a ser construda no bairro da

Matola-Gare. A produo deverpassar das actuais 25 milhes decaixas para 100 milhes com a novafbrica, unidade que levar dois anosa ser construda e que ir custar 130milhes de dlares.A fbrica est a ser erguida numarea de 20 hectares e vai dispor desete linhas de enchimento de todosos sabores da companhia e contarcom um novo armazm. A ideia que, a partir do primeiro semestre de2015, todo o negcio realizado no

sul do pas passe pela Matola-Gare,uma vez que a fbrica da Machavae o armazm da cidade de Maputosero desactivados.c

Jo vbzpROSaVaNaem Mombque

A AGNCIA de CooperaoInternacional (JICA) anunciou umnovo projecto de assistncia tcnica,avaliado em 12 milhes de dlares,para o Programa de Cooperao

Triangular para o DesenvolvimentoAgrcola das Savanas Tropicais emMoambique (PROSAVANA).O projecto, desenvolvido poragricultores brasileiros e japonesesem 12 distritos das provncias deNampula, Cabo Delgado e Zambzia,conta j com 25 milhes de dlares(com os 13 da tranche anterior),abrangendo cerca de 700 mil

hectares de terra e visa promoveruma agricultura empresarial,com uma forte componente de

transferncia de tecnologia.Neste momento, o Japo eMoambique esto a discutir futurasactividades a serem desenvolvidasno PROSAVANA (rplica do programadesenvolvido na savana brasileira),que vo compreender a cooperaotcnico-nanceira no reembolsvel,alm de novos emprstimos parao programa. Moambique oferecevantagens comparativas para aproduo agrria, at porque apenas14% de 3,3 milhes de hectares

de terra que podem ser irrigados seencontram em explorao.c

Emres de cssu-frcnos vroduzr eno

A EMPRESA A empresa MozambiqueBio-Fuel Industries, de capitais dafrica do Sul, inicia em Setembroprximo, no distrito de Mocuba


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(Zambzia), a produo de alimentosprocessados e de bio-combustveis,

mais concretamente o etanol.O investimento inicial de poucomais de 20 milhes de dlares,sendo que cinco milhes esto a seraplicados na produo de girassolnuma rea de mil hectares naqueledistrito e os restantes 15 milhes dedlares sero aplicados num terrenode 1.500 hectares no distrito deLugela, igualmente na provncia daZambzia e adjacente ao de Mocuba.Consta que 75% da produo daempresa sero bens alimentares

processados, nomeadamente leoalimentar, milho, trigo e soja, e osrestantes 25% sero lcool etlico,de que se prev uma produo de700 mil litros mensais.c

Briefng MOAMBIQUE/MOZAMBIQUE

ANGOLA e Moambique so as primeiras escolhas para os homens de negcioportugueses, quando confrontados sobre onde pretendem investir em 2013, deacordo com um inqurito anual realizado pela Travelstore American Express. Das

229 empresas inquiridas, em sectores como o retalho, a construo etecnologia, 30 por cento refere que o mercado moambicano lhes preferencial, 22 por cento arma que pretende investir em Angola e 17 porcento dos inquiridos escolhe o Brasil, que em 2012 era o destino de eleio.c

DESTAQUE

Moambique e Angola so destinospreferenciais de negcio

arors res more exensve

MOzAMBIQUE Airports Company(ADM) will increase the landing feesfor ights later this year as a way ofensuring return on investment in therehabilitation of airports, whoseinvestments exceed US$ 350 millionover the past ve years.The Executive Board has approvedthe new passengers rates. The feefor domestic ights will rise to US$13 per passenger, compared to the

current 10, and the international

ights will rise from 30 to 35 dollars.The strategy for the return ofinvestments, according to ADM, isnot limited only to increasing thelanding fees. It also includes theimprovement of airport infrastructurein order to make it attractive to theaccession of new airlines. It is in thisregard that the airport runway will berehabilitated in Maputo in 2014.c

Coc-Co wqudrue roduconn Mozmbque

COCA-COLA is expected toquadruple its production inMozambique, from 2015, when thenew plant to be built in the district ofMatola-Gare is expected to startoperating. Production will rise fromthe current 25 million boxes to 100million with the entry into operationof the new factory, whoseconstruction is expected to last fortwo years and will cost 130 milliondollars.


27/80


Briefng MOZAMBIQUE

The plant is being built on an areaof 20 hectares and will have seven

lling lines all the avours of thecompany and will have a newwarehouse. The idea is that, fromthe rst half of 2015, all businessconducted in the south will bepass through Matola-Gare, sinceMachava factory and the Maputo citywarehouse will be closed.c

Japan supports PROSAVANA in Moambique

THE INTERNATIONAL CooperationAgency (JICA) has announced a newtechnical assistance project, valuedat 12 million dollars for theTriangular Cooperation Program forAgricultural Development of TropicalSavannas in Mozambique(PROSAVANA).The project, developed by Japaneseand Brazilian farmers in 12 districtsof Nampula, Cabo Delgado andZambezia, already has 25 milliondollars (with 13 from the previousinstalment), covering about 700hectares of land and aims to promote

a farming enterprise, with a strongtechnology transfer.At this time, Japan and Mozambiqueare discussing future activities to bedeveloped in PROSAVANA (replicaof the program developed in theBrazilian savannah), which will covernon-refundable technical-nancial

cooperation, in addition to newloans for the program. Mozambiquehas comparative advantages foragricultural production, becauseonly 14% of 3.3 million hectares ofland that can be irrigated are beingexplored.c

a Souh afrcncomny w roduceehno

THE SOUTH African company,Mozambique Bio-Fuel Industries, willstart operating next September, inthe district of Mocuba (Zambezia),with the production of processedfood and bio-fuels, specicallyethanol.The initial investment is a little over20 million dollars, out of which vemillion are being applied in theproduction of sunower in an area of

one thousand hectares in that districtand the remaining US$ 15 millionwill be invested in an area of 1,500hectares in the district of Lugela, alsoin Zambezia province and adjacentto Mocuba.Reportedly, 75% of the companysproduction will be processedfoodstus, including cooking oil,corn, wheat and soybeans, and theremaining 25% are ethyl alcohol,which is expected to produce700,000 litres on a monthly basis.c

ANGOLA and Mozambique are the rst choices for the Portuguese businessmen, when confronted about where to invest in 2013, according to an annualsurvey conducted by Travelstore American Express. In a total of 229 companiessurveyed, in sectors such as retail, construction and technology, 30 percentstated that the Mozambican market is the preferred destination, 22 percent saidthat they plan to invest in Angola and 17 percent of respondents choose Brazil,which was the destination of choice in 2012.c

HIGHLIGHTS

Moambique and Angola are the preferred

destinations for business


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DOSSIER

m termos econmicos, An-gola gura entre os pases maispromissores do continenteafricano, apresentando taxas decrescimento muito animadoras.Esta tendncia justicada,

segundo a Economist Intelligence Unit(EIU) num relatrio que perspectiva aeconomia angolana caracterizada porum forte crescimento da produo depetrleo, e num contexto de maiorprocura de produtos petrolferos eseus derivados, a nvel mundial.

A actual conjuntura do mercadointernacional, sob o ponto de vista dedemanda, favorvel exploraopetrolfera naquele pas. Entretanto,da anlise feita pela EIU salta vistao paralelismo estabelecido entreo actual alinhamento poltico e asdinmicas que se vericam nosdiferentes segmentos da economiaangolana. Por outras palavras, huma forte ligao entre a poltica ea economia, de tal modo que a elitedo tecido empresarial angolano composta maioritariamente por

Petrleo, o eterno motorNum horizonte temporalde pelo menos 5 anos, o

sector petrolfero afigura-se como o ramo que irdar suporte s taxas de

crescimento da economiaangolana. Entretanto, per-

spectivas traadas pelaEconomist IntelligenceUnit revelam que a cor-

rupo e falta de capitalhumano sero os entraves

ao desenvolvimento deum sector privado din-

mico, constitudo porempresrios sem ligaes

polticas ou militares.

polticos e por pessoas a estesassociados, por via de diversos laos.

Crescimentoeconmico a umritmo animador

As previses da EIU, para o perodocompreendido entre 2013 e 2017,apontam para um aumento constante


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da produo de petrleo, sendo queos preos historicamente altos deste

recurso iro impulsionar o crescimentoreal do Produto Interno Bruto (PIB)angolano.

As estimativas mostram que aproduo petrolfera poder passar deuma mdia de 1,76 milhes de barris

por dia (cifra registada em 2012) parauma fasquia de 2.23 milhes de barrispor dia, em 2017. Porm, e devidoa atrasos tcnicos historicamenteconhecidos e nma possibilidade

da OPEP (cartel de pases produtoresde petrleo) impor uma quota restritade exportao do petrleo, existe aprobabilidade da produo petrolferacrescer a um ritmo mais lento.

Por outro lado, encontra-se oambicioso e gigante projecto deproduo de Gs Natural Liquefeito(GNL), orado em cerca de 10 bilies,cujas exportaes podero arrancar

ainda este ano, apesar dos severosatrasos j registados. A se materializar

este ltimo projecto, o desempenhoeconmico de Angola vai aumentarsignicativamente, prevendo osespecialistas da EIU um crescimentoreal do PIB na casa dos 8,9% em 2013.

O crescimento econmico de Angolavai continuar robusto nos prximosanos mas no se vai vericar smesmas taxas de crescimento de2013, que esto a ser largamenteestimuladas pelo projecto deexportao de GNL. Da que, entre2014 e 2017, a taxa mdia decrescimento anual poder vir a situar-se nos 5,7%, tendo por base a forteexpanso slida das operaes nosector petrolfero.

Neste contexto, o crescimento docapital intensivo vai prevalecerrobusto e dependente do incomeproporcionado pelos grandesinvestidores do petrleo, mas compoucas ligaes a sectores daeconomia que no sejam controladospelo Governo, como o caso da

construo e nanas.

Contudo, o desenvolvimentode um sector privado dinmicodever continuar a enfrentar sriosconstrangimentos. Na origem destesentraves est, segundo o estudoda EIU, a falta de capital humano, acorrupo, um sistema judicial fraco euma regulao deciente.

Novo cdigo pode

dinamiar sectorda minerao

Angola aguarda pela entrada em vigorde um novo cdigo legal que pretendeincentivar o investimento no sectorda minerao, em larga escala. Esteinstrumento tido como o factor quevai ajudar a diversicar a economiaangolana, alicerada na produo do

petrleo e do gs.

Na essncia, o novo cdigo legal

tem como objectivo criar um maiornvel de transparncia na indstria,melhorar as garantias para osinvestidores estrangeiros e protegero meio ambiente e os empregoslocais. Contudo, so ainda necessriasmelhorias de fundo nas infraestruturaspara dar suporte explorao mineira,caso o pas queira ter, de facto, a suanova casa forte no sector.

Depois da independncia do pas,com a excepo dos diamantes,

a minerao de um modo geralregistou uma estagnao. Com ocalar das armas, o Governo est agoraempenhado em retomar a explorao.

neste contexto que as linhas frreas,estradas, e infraestruturas porturiasesto a beneciar de intervenesde fundo. A par destas obras deconstruo, decorrem trabalhos deprospeco de minrios como oferro, ouro e cobre, em vrios pontosde Angola. Planos de mdio prazo

projectam a construo de usinasde alumnio e ao, que poderoacrescentar valor s exportaesangolanas e que tm um fortepotencial de criao de postos detrabalho.

Tomando como base estas premissas,a economia angolana agura-se comouma das mais promissoras em fricae os seus recursos so autnticoschamarizes aos olhos dos investidoresestrangeiros.c



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Oil, the eternal

engine of the Angolaneconom

In economic terms, Angola is amongthe most promising countries inAfrica, with very encouraging growthrates. This trend is justied, accord-ing to the Economist IntelligenceUnit, (EIU) in a report that looks at

the Angolan economy as characterizedby a strong growth in oil production,and in a context of increased demandfor petroleum products and theirderivatives worldwide.

In a time horizon of at least five years, the oil sector ap-pears as the branch that will support the growth rates

of the Angolan economy. However, the outlook drawn bythe Economist Intelligence Unit shows that corruptionand lack of human capital are barriers to the develop-

ment of a dynamic private sector, comprised by entre-preneurs without political or military connections.

The current situation of theinternational market, from the point ofview of demand, is seen as favourableto oil exploration in the country.

However, the analysis by the EIUmakes the parallel drawn betweenthe current political alignment anddynamics occurring in dierentsegments of the Angolan economyclear. In other words, there is a strongconnection between politics and theeconomy, in such a manner that thebusiness elite is mainly composedof Angolan politicians and personsassociated with them, via various links.

Economic growthat an encouraging

pace

The EIU forecasts, for the periodbetween 2013 and 2017, show asteady increase in oil production,being that the historically high pricesof this resource are expected to boost


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DOSSIER

the real growth in Gross DomesticProduct (GDP).

Estimates show that oil production

could increase from an average of1.76 million barrels per day (a gurerecorded in 2012) for a bar of 2.23million barrels per day in 2017.However, and due to technical delayshistorically known and tiny possibilityof OPEC (the cartel of oil-producingcountries) to impose a restricted quotafor oil export, there is a likelihood of oilproduction to grow at a slower pace.

Furthermore, there is the ambitiousand giant project to produce liqueednatural gas (LNG), estimated at about

US$10 billion, exports of whichare expected to begin this year,despite the severe delays that havealready been registered. If this latterproject is materialized, the economicperformance of Angola will increasesignicantly, and according to theEIUs experts, there will be a real GDPgrowth at around 8.9% in 2013.

Angolas economic growth is expectedto remain robust in the coming years

but the same growth rates of 2013will not be observed which are beinglargely stimulated by the proposedLNG export. Hence, between 2014 and2017, the average annual growth islikely to be within 5.7%, based on thestrong solid expansion of operations inthe oil sector.

In this regard, the growth of intensivecapital will prevail robust anddependent on income provided bylarge investors in the oil sector, butwith few links to the sectors of the

economy that are not controlled by thegovernment, such as construction andnance.

Nonetheless, the development of adynamic private sector will continueto face serious constraints. Accordingto the EIU survey, these barriers arethe result of the lack of human capital,corruption, weak judicial system andpoor regulation.

New code can

streamline themining sector

Angola is awaiting the entry into forceof a new legal code that is expected toencourage investment in the miningsector on a large scale. This instrumentis regarded as the factor that will helpdiversify the Angolan economy, basedon the production of oil and gas.

In essence, the new legal code aims to

create a greater level of transparencyin the industry, improve safeguardsfor foreign investors and protect theenvironment and local jobs. However,serious improvements are still neededfor the infrastructure to supportmining, if the country wants to have,in fact, its new strong house in thesector.

After independence of the country,

with the exception of diamonds,mining in general experienced

stagnation. With the silencing of guns,the Government is now committed totake over the mining.

It is within this context that the raillines, roads and port infrastructure arebeneting from serious interventions.Alongside these construction works,there is ongoing prospecting work ofminerals such as iron, copper and goldin various parts of Angola. Medium-term plans project the construction ofaluminium smelters and steel, whichcan add value to the Angolan exports

and they also have a strong potentialto create jobs.

Based on these assumptions, theAngolan economy appears to be asone of the most promising countries inAfrica and its resources are thought tobe the authentic decoys in the eyes offoreign investors.c


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Foco ECONOMIA

Calcula-se que Portugal j sacou80 por cento do valor do em-prstimo (de mais de 79 biliesde euros) conseguidos junto Trika. Nas condies em que oPas se encontra, saldar a dvida

tem sido uma tarefa herclea. Por esse

motivo, Lisboa j pediu aos credores quecompem a Trika - a Unio Europeia(UE) e o Fundo Monetrio Internacional(FMI) - que lhe permitam um prazo maiorpara reduzir o seu dcitoramentalpara a meta de 3% do PIB, ao invs dosestimados 5%, no nal de 2012. Mas odesao ca mais gigantesco ainda, quan-do se analisa o empenho que o Pas deCames ter de empreender para honraros compromissos desta dvida para coma Trika.

Em termos de taxas de juro, 3.4% oque se deve pagar pela dvida contradajunto Comisso Europeia, enquantoo Banco Central Europeu cobra cercade 3% e o FMI, 4.1%. Por outro lado,Portugal enfrenta a presso dos prazospara pagar as dvidas. Estas devem sersaldadas em 2014, 2015 e 2016. neste cenrio de presso que cadavez menos pessoas acreditam queo Executivo venha a reanimar em

O Fado tambmpede esmolas?A crise econmica j lanou cerca de 900 mil portugueses para o desemprego. Virouum lugar comum, principalmente em Lisboa, ver cidados outrora autossuficientes

a apelar compaixo alheia para ganhar umas moedas. Alguns pedintes usam o fado

como recurso. O cenrio um espelho do quanto o pas possui os bolsos do avesso.As estratgias do Executivo, que visam tirar Portugal da actual dependncia, so con-

testadas pelas constantes manifestaes, e o pas est cada vez mais endividado.


breve uma economia gradualmentemergulhada na incerteza.

Estamos a pedir

Nuno Jardim, empreendedor na reade restaurao, arma que nunca se

pronunciou tanto a palavra pedir comose faz actualmente em Portugal. E oque mais se pretende compreender agnese da dependncia de Portugal emrelao Unio Europeia, FMI e outrosorganismos de nanciamento.Na anlise do cronista Joaquim Alberto,publicada no jornal O Ribatejo, quandoPortugal entrou para a Unio Europeiamuitas das atividades produtivas,at ento existentes, foram sendosubstitudas por subsdios comunitrios,

tanto na agricultura como nas pescas ouna indstria.Assim, lentamente, foram-nos tirandoa cana de pesca e, em compensao,foram-nos dando um pouco de peixe. Efoi este posicionamento que arrastouPortugal para a actual situao, segundoo analista.Quando se vive de esmolas, as pessoasvo ganhando a mentalidade de pedintes.Foi o que aconteceu, arma peremptrio.Com efeito, os actuais nmerossublinham o posicionamento do analista.J existem mais de 900 mil portuguesessem trabalho - um novo recordeapresentado pelo Eurostat, sendo queum considervel nmero corre o risco dede vir a ser mendigo. Actualmente, at oFado pede esmolas em Portugal.c


33/80

Focus on ECONOMY

I

t is estimated that Portugal hasalready drew 80 percent of theloan amount (more than 79 billionEuros) achieved at the Troika. In

these conditions, for the countryto pay o its debt has been a

Herculean task. Therefore, Lisbonhas urged lenders that make upTroika - the European Union (EU) andInternational Monetary Fund (IMF) -to allow more time for it to reduce itsbudget decit to 3% target of GDP,instead of the estimated 5% in late2012. But the challenge is even moregigantic, when considering the com-mitment that the Cames country

will have to undertake in order tohonor the commitments of the debtto Troika.In terms of interest rates, 3.4%is what should be paid for thedebt incurred by the EuropeanCommission, while the EuropeanCentral Bank charges about 3% andthe IMF, 4.1%. Moreover, Portugalfaces the deadlines pressure to payo debts. These should be settled in

2014, 2015 and 2016.It is against this backdrop of pressurethat fewer people believe that theExecutive board will soon revive aneconomy which is gradually steeped

in uncertainty.

We are asking...

Nuno Jardim, an entrepreneur in thecatering area, claims that the wordask has never been as pronouncedas it is currently pronounced inPortugal. And what needs to beunderstood is the genesis of Portugaldependence in relation to the EU,IMF and other funding bodies.In the analysis of the chroniclerJoaquim Alberto, published in the

newspaper The Ribatejo, whenPortugal joined the EU most of theproductive activities, then existing,were being replaced by communitysubsidies, both in agriculture andsheries or in the industry.So, slowly they took from us theshing rod, and in compensation,they went giving us some sh. Andit was this positioning that draggedPortugal to the current situation,according to the analyst.

Fado is also a beggar?The economic crisis has already caused about 900 thousand Portuguese to be

unemployed. Especially in Lisbon, it has become a commonplace to see citizens whohave once been self-sufficient to appeal to the compassion of others in order to geta few coins. Some beggars use fado as a resource. The scenario is a picture of how

the country has pockets inside out. Executive board strategies, which aim to removePortugals current dependence, are challenged by constant demonstrations, and the

country is increasingly indebted.

When you live on alms, people gainthe mentality of beggars. That iswhat happened, says the chroniclerperemptorily. Indeed, the currentgures highlight the position ofthe analyst. There are more than900 thousand Portuguese withoutwork - a new record presentedby Eurostat, with a considerablenumber running the risk of beinga beggar. Currently, even Fado is abeggar in Portugal.c



34/80

Foco NEGCIO

Um novo domniode interesse empresarial

Empresrios portugueses e brasileiros j desobriram as oportunidades que omercado moambicano oferece e prometem implantar negcios. Para apoiaros investidores nacionais, o Governo e os parceiros j disponibilizaram pouco

mais de 35 milhes de dlares.

rea de agro-negcios temestado a roubar a atenoreservada rea mineira quan-do se fala em negcios. Cadavez mais, h um maior desper-tar para os agro-negcios, por

parte do Governo e dos empresrios,pelo facto de se tratar de um sectoradormecido, mas que pode asseguraro retornos aos investimentos, a avaliarpelo potencial agro-ecolgico deMoambique.

A agro-indstria consiste natransformao de matrias-primasprovenientes da agricultura, pecuriaou silvicultura, sobretudo para aproduo de alimentos.Recentemente, o Governomoambicano, o Governo daDinamarca e o GAPI-Sociedade deInvestimentos lanaram uma linhade nanciamento de 35.6 milhesde dlares para apoiar as pequenasempresas do ramo agro-industrial,durante um prazo de quatro anos.

A linha Agro-investe nanciada pelaDinamarca em 33.1 milhes e peloGAPI-SI em 2.5 milhes de dlares einclui a capacitao institucional doMinistrio da Agricultura. A linha irdisponibilizar 1.2 milhes de dlarespara nanciar iniciativas de jovens eprev a aplicao de 12 milhes comofundos de garantia face ao alto riscode nanciamento que a actividade


representa. Entretanto, ainda faltadenir algumas linhas de orientao,nomeadamente a taxa de juro a seraplicada, o nmero de benecirios,e os bancos responsveis pelacanalizao dos montantes.

Brasil e Portugalno ficam atrs

Entre 23 de Fevereiro e 3 de Marodeste ano, o pas recebeu uma

misso empresarial de Agronegciosorganizada pela Cmara de Comrcio,Indstria e Agropecuria Brasil-Moambique (CCIABM) em parceriacom o Sindicato de TrabalhadoresRurais de Guarapuava.Interessados em investir no pas, osbrasileiros mantiveram reunies comrepresentantes de entidades como o

Centro de Promoo de Investimentos(CPI), o Ministrio da Agricultura e oCentro de Promoo da Agriculturade Moambique (CEPAGRI), alm dosgovernos distritais das provncias deNampula e Niassa, e de reunies comempresas do ramo do agronegcio. Nom, a comitiva de produtores ruraisretornou ao Brasil disposta a investirem Moambique, segundo a CCIABM.Ainda em Maro, foi a vez de umconjunto de empresrios portugueses

realizarem a primeira Feira Agro-alimentar em Moambique. A ministraportuguesa da Agricultura, do Mar,do Ambiente e do Ordenamentodo Territrio de Portugal, AssunoCristas, defendeu ento que ambos ospases podem crescer no sector agro-alimentar e desaou os empresrios ainvestir nos dois mercados.c


35/80

Portuguese and Brazilian entrepreneurs have already discovered the opportunitiesthat the Mozambican market offers and they promise to set up businesses. In order tosupport the domestic investors, the Government and the partners have made availa-

ble a little over US$35 million.

Focus on BUSINESS

The agri-business area hasbeen stealing the atten-tion reserved to the min-

ing area when it comes tobusiness. Increasingly, thereis a greater awareness to the

agri-business by the government andentrepreneurs, because it is a sectorwhich is thought to be underexploredbut it can ensure investment returns,judging by the agro-ecological poten-tial of Mozambique.The agro-industry consists on thetransformation of raw materials fromagriculture, livestock and forestry,especially for food production.Recently, the Mozambicangovernment, the Government ofDenmark and GAPI-InvestmentCompany launched a credit line ofUS$35.6 million to support smallbusinesses in the agro-industrialsector, for a period of four years.The Agro-investing line is fundedby Denmark by US$33.1 million

and GAPI-SI by US$2.5 millionand it includes institutionalcapacity building of the Ministry of

Agriculture. The line will provide US$1.2 million to fund youth initiativesand it also anticipates applying US$12 million as guarantee funds faceagainst the high nancing risk thatthe business represents. However,some guidelines still need to be setforth, including the interest rate to beapplied, the number of beneciaries,and the banks responsible forchanneling the amounts.

Brail and Portugal

not far behind

Between February 23 and March3 this year, the country receiveda business mission organized byAgribusiness Chamber of Commerce,Industry and Agriculture Brazil-Mozambique (CCIABM) in partnershipwith the Union of Rural Workers ofGuarapuava.

The Brazilians, interested in investingin the country, held talks withrepresentatives of organizations

such as the Centre for InvestmentPromotion (CPI), the Ministry ofAgriculture and the Centre forthe Promotion of Agriculture ofMozambique (CEPAGRI), and districtgovernments of the provinces ofNampula and Niassa, and also heldmeetings with companies in theagribusiness sector. In the end, therural farmers entourage returnedto Brazil with the willingness toinvest in Mozambique, according toCCIABM.

Also in March, a set of Portugueseentrepreneurs held the rst Agro-food Fair in Mozambique. ThePortuguese Minister of Agriculture,Sea, Environment and SpatialPlanning of Portugal, AssunoCristas, claimed that both countriescan grow in the food sector and alsochallenged entrepreneurs to investin both markets.c

Agribusiness:A new area of businessinterest



36/80


Foco EMPRESA

Eportaes paraMoambiquebatem recorde

s exportaes portuguesaspara Moambique tiveram em2012 o seu melhor ano desempre, atingindo 288.20 mil-hes de euros, contra 216.98milhes de euros em 2011. O

desempenho de 2011 representa um

acrscimo de 32.83% face a 2010.Moambique, por seu turno, exportoupara Portugal apenas 16.428 milhesde euros, contra 41.98 registados em2011. Moambique importa, maiori-tariamente de Portugal, mquinas eaparelhos, assim como metais comuns.Os veculos e materiais de transporte,os produtos alimentares, as pastas ce-lulsicas e o papel so outros produtosde origem portuguesa com aceitaono mercado moambicano.

999 milhesde dlares de

eportaes para oBrasil

As exportaes de produtos portu-gueses para o mercado brasileiroatingiram, em 2012, o valor recorde de999 milhes de dlares. As cifras re-

presentam um crescimento de 19.5%das exportaes comparativamente aoano anterior.As trocas comerciais entre Portugale Brasil tm vindo a aumentar expo-nencialmente nos ltimos anos. Nosltimos 10 anos, as exportaes mul-tiplicaram-se, sendo actualmente seisvezes superiores ao valor de 2002,calculado em cerca de 169 milhes dedlares. Ainda assim, as exportaesbrasileiras para Portugal corresponde-

ram, em 2012, a 1.62 bilies de d-lares e resultaram num acrscimo de625 milhes de dlares para o Brasil.O mercado brasileiro compra maisde Portugal produtos como o azeite(com cerca de 19% do total das ex-portaes em 2012); o bacalhau (com7.7%); os combustveis (com 7.2%); epras e vinho (com 3% cada).

Vendas de vinhobatem recorde

As vendas portuguesas de vinho atin-giram os 704.8 milhes de euros em2012, mais 7% do que no ano ante-rior. O valor, considerado um recorde, conseguido graas aposta em novosmercados da lusofonia assim como nosmercados chins e russo.Segundo a imprensa portuguesa, ocrescimento das exportaes do vinhofoi de 8.8%, em 2012, atingindo um

total de 3.35 milhes de hectolitros. o terceiro ano consecutivo que asexportaes aumentam em todas ascategorias, apesar da notria descidados preos.

Eportaesportuguesas

barradas no mercadoangolano

As exportaes portuguesas paraAngola tm cado retidas no porto deLuanda, durante um largo perodo detempo. Facto que faz com que os pro-dutos cheguem ao consumidor nalcom um prazo de validade mais curto.Entretanto, os responsveis das al-fndegas de Angola explicam que asexportaes portuguesas esto a carretidas devido demora das inspec-es laboratoriais, que passaram a serexigidas pelas autoridades angolanas.O facto acontece com produtos prove-

nientes de todo mundo, garantem osmesmos.Por seu turno, o presidente da Confe-derao Empresarial de Portugal (CIP),Antnio Saraiva, admite que Angolaesteja a reter as exportaes portu-guesas como forma de retaliao aPortugal devido aos casos de justiaportuguesa que envolvem guraspblicas angolanas.c

tentculos na LusofoniaCom um cenrio menos motivador na Europa, exportar para o mercado lusfono encarado como uma soluo pelas empresas portuguesas. S em 2012, as ex-

portaes portuguesas para Angola atingiram cerca de trs mil milhes de euros(tendo crescido a um ritmo anual de 10% desde 2007) e para Moambique cerca

de 288 milhes de euros.


37/80


Foco on COMPANY

Moambiqueeports to hit

record

Portuguese exports to Mozambiquein 2012 had its best year ever,reaching 288.20 million, against216.98 million in 2011. The 2011performance represents an increaseof 32.83% over 2010.Mozambique, in turn, exported toPortugal only 16,428 million Euros,against 41.98 recorded in 2011.Mozambique imports, mostly fromPortugal, machinery, and metal.Vehicles and transport equipment,

food products, cellulose pulpand paper are other products ofPortuguese origin with Mozambicanmarket acceptance.

999 million dollarsof eports to Brail

Portuguese exports for the Brazilianmarket reached 999 million dollars

record in 2012. The gures representan increase of 19.5% in exports overthe previous year.Trade between Portugal and Brazilhas been exponentially increasing inrecent years. Over the past 10 years,exports have multiplied, currentlybeing six times the 2002 gures,estimated at around 169 milliondollars. Still, Brazilian exports toPortugal reached 1.62 billion dollarsin 2012 and resulted in an increaseof 625 million dollars to Brazil.The Brazilian market purchasesproducts such as olive oil (about19% of total exports in 2012), cod(with 7.7%), fuel (with 7.2%) and

pears and wine (with 3% each)especially from Portugal.

Wine sales hitrecord

Portuguese wine sales reached704.8 million Euros in 2012, 7%more than the previous year. Thevalue, considered to be a record, is

Eportsstrengthen tentaclesin the Portuguese

Speaking CountriesWith a less motivating scenario in Europe, exporting to

the Lusophony market is seen as a solution by Portuguesecompanies. Only in 2012, Portuguese exports to Angola

amounted to around three billion Euros (having grown atan annual rate of 10% since 2007) and about 288 million

Euros to Mozambique.

achieved thanks to the investment in

new Lusophony markets as well as inthe Chinese and Russian markets.According to the Portuguese press,the growth of wine exports was8.8% in 2012, reaching a total of3:35 million hectoliters. It is the thirdconsecutive year that exports haveincreased in all categories, despitethe widespread fall in prices.

Portuguese eportsbarred in Angola

Portuguese exports to Angola areusually held in the port of Luanda,during a long period of t ime. Thisfact makes the products reach theend consumer with a shorter shelflife.However, Angola Customs ocialsexplain that Portuguese exportsare retained due to the delay oflaboratory inspections, whichare now required by the Angolanauthorities. This happens withproducts from all over the world,the same ocials guarantee.Furthermore, the president of theBusiness Confederation of Portugal(CIP), Antnio Saraiva, admits thatAngola is retaining Portugueseexports in retaliation to Portugaldue to cases of Portuguese justiceinvolving public gures fromAngola.c


38/80


PotEnciaL energticOcontra escassez de acessoNingum duvida queMoambique um dospases que poder vir aproporcionar um nvel

de vida estvel suapopulao. Alis, se todoo potencial energticoe natural estivesse aoservio da sociedade ese no faltassem meiosfinanceiros, poderia ser aSuia de frica.

Moambique entreos cinco potenciais

produtores de energiaelica em frica

Um estudo recentementedesenvolvido pelo BancoAfricano de Desenvolvimento(BAD) concluiu que Moam-bique est entre os cincopases africanos com maior

potencial para produzir energiaelica, a par da Tanznia, Angola,frica do Sul e Nambia.

Trata-se de um privilgiodeterminado pela natureza. Segundoo Estudo, estes pases localizam-seem zonas propensas ocorrncia deventos favorveis para a produo

de energia elica. Uma notcia quesurpreende pela positiva, apesardo pas j ser detentor de ttulossimilares em relao energiaelctrica, carvo, gs natural epotencial hdrico suciente paragerar mais energia.Ou seja, a posio de Moambiquecomo eminente produtor da principalmatria-prima para mover mquinas

Augusto Fernando

gnfc que se esses rojec-os rrncrem mnh, emermos de consruo cv,

eu no enho energ r

ssfzer ess rocur den-ro de dos ou rs nos


39/80

TEMA DE FUNDO

no processo de industrializao careforada,assim como a possibilidade

de alcance da auto-sucinciaenergtica.Alis, o presidente do Conselho deAdministrao (PCA) da Electricidadede Moambique (EDM), AugustoFernando, considera injusticvelque num pas como Moambique,com um potencial hidroelctrico de12.500 megawatts, 127 mil milhesde metros cbicos de reserva de gsnatural e 13,1 bilies de toneladascomprovadas de reservas de carvomineral, apenas quatro milhes

de moambicanos tenham acesso energia elctrica num universoprximo dos 24 milhes de habitantes.Isto , quando se fala de Moambique,ca quase sempre a percepo dese estar a falar de um Estado rico. Defacto, um pas que est perto disso,mas a uma relativa distncia de detero que separa a pobreza da riqueza: odinheiro.Alis, Augusto Fernando admite que hnecessidade de se expandir o acesso energia elctrica, mas que no h

dinheiro. A EDM necessita de 600milhes de dlares norte-americanos,por ano, para pr em marcha diversosprojectos de produo e distribuiode energia elctrica no pas.Augusto Fernando salienta que preciso aproveitar o enorme potencialem termos de recursos energticosainda por explorar para permitirque mais moambicanos tenhamacesso electricidade, o que implica,igualmente, avultados investimentos.Para j, a prioridade da maior

empresa pblica de electricidadepassa pela construo da barragemde Mpandankua, em Tete, e pelareabilitao das barragens de Mavuzie Chicamba, na provncia de Manica.Informaes recentes indicam que asduas ltimas arrancam no segundosemestre deste ano.

Sem mos a medir

Apesar deste potencial todo, o pastambm perde dinheiro por nomaximizar as oportunidades de vendade energia.No Norte, a Kenmare, que explora asareias pesadas em Moma, queixa-seda falta de energia suciente paraassegurar o actual processo produtivo,estando condicionada, por isso, aexpanso da empresa. No sul, a Mozalpretende avanar com a terceira fase eprecisa de cerca de 300 a 500 MW.Signica que se esses projectosarrancarem amanh, em termos deconstruo civil, eu no tenho energiapara satisfazer essa procura dentro dedois ou trs anos, lamentou o PCA daEDM.Os desaos da EDM passam tambmpor levar a energia elctrica a todos osdistritos do pas at 2014 e melhorara sua qualidade, bem como reduziras perdas com a vandalizao doequipamento, que em 2012 resultouem perdas de 15 milhes de dlares.

Na cidade de Maputo, o equipamentode abastecimento est velho eobsoleto. Com mais de 40 anos, temoriginado frequentes cortes nos bairros

urbanos e suburbanos da capital dopas. A sua substituio tambm um

dos principais desaos para este ano.

frica tambm vivea escasse na

abundncia

Anal, o fraco aproveitamento dasreservas no apenas um problemade Moambique. O estudo do BADrevela que as reservas africanas derecursos energticos renovveisso as mais altas do mundo, e que o

continente tem suciente potencial deenergia renovvel para atender s suasnecessidades futuras.Mesmo assim, mais de meio biliode pessoas no tem acesso electricidade, e o continente v-seconfrontado com o desao de gerarmais energia para atender demandaactual e futura.Estima-se que 18 dos 35 principaispases em desenvolvimento estoentre os melhor classicados no quediz respeito a reservas de energias

renovveis, e pelo menos oito pasesafricanos esto entre os mais dotadosem termos de energia elica no mundoem desenvolvimento.c


prncs rojecos de roduo energ ecrc em Mombque

Barragem de Mpanda Nkuwa

Capacidade:

1.500 Megawatts

Oramento:

2 bilies de dlares

Alguns dos financiadores:

Exim Bank da China; EDM; CamargoCorra e BNI

HCB Central Norte

Capacidade:

1.245 megawatts

Oramento:

700 milhes de dlares


Fundos prprios da HCB e Portugal

Barragens de Mavusi e ChicambaCapacidade de produo de Mavusi:52 megawattsCapacidade de produo de Chicamba:38 megawattsOramento:39 milhes de dlaresAlguns dos financiadores:

Frana e Sucia

Projecto CESUL

Etenso da linha:

1.300 quilmetros

Capacidade de transporte:

3.100 MW

Oramento:

2.4 bilies de dlares


Banco Europeu de Investimentos, BancoMundial, Noruega e Frana


40/80


Moambiqueamong the five

potential wind energproducers in Africa

Arecent study developed bythe African DevelopmentBank (ADB) concluded thatMozambique is among theve African countries withthe greatest potential to

produce wind energy, along with

Tanzania, Angola, South Africa andNamibia.It is about a privilege determinedby the nature. According to thestudy, these countries are locatedin areas prone to the occurrenceof favorable winds for wind energyproduction. This piece of newsis positively surprising, despitethe fact that the country alreadyholds similar positions in relationto electricity, coal, natural gasand water potential sucient togenerate more energy.Put it more simply, the position

of Mozambique as an eminentproducer of the main raw materialfor machinery in the manufacturingprocess is enhanced, as well as the

possibility for it to achieve self-suciency.Incidentally, the Chief ExecutiveOcer (CEO) of the Electricityof Mozambique (EDM), FernandoAugusto, thinks that it isunjustiable that, in a country likeMozambique, with a hydropowerpotential of 12,500 megawatts,127 billion cubic meters of naturalgas reserves and 13.1 billion

Energ potentialagainst lack of access

Nobody doubts that Mozambique is one of the countries which may provide a stablestandard of living for its population. Incidentally, if all the natural and energy potentialwas at the service of the society and if financial means were available, it could be theSwitzerland of Africa.

Augusto Fernando

ths mens h f hese

rojecs begn omorrown erms of consrucon, i

hve no energy o mee hs

demnd whn wo or hreeyers


41/80


BACKGROUND THEME

tonnes of proven coal reserves,only four million Mozambicanshave access to electricity in atotal of approximately 24 millioninhabitants.That is to say that when speaking ofMozambique, there is almost alwaysthe perception that it is a rich state.In fact, the country is close to that,but in a relative distance to stopwhat separates poverty of wealth:money.Incidentally, Fernando Augustoadmits that there is a need toexpand access to electricity, butthere is no money. EDM needsUS$600 million per year to tackleseveral projects in the area ofproduction and distribution ofelectricity in the country.Fernando Augusto points outthat it is important to harness thehuge potential in terms of energyresources yet to be exploited inorder to allow more Mozambicansto have access to electricity, whichalso involves huge investments.For now, the priority of the largestpublic electricity company is tobuild the Mpandankua dam in Tete,and to rehabilitate the Mavuzi andChicamba dams, in the provinceof Manica. Recent information

indicates that the last two dams willbe rehabilitated in the second halfof this year.

No hands full

Despite all this potential,the country also loses money by notmaximizing the opportunities forenergy sales.In the North, Kenmare, whichexplores the heavy sands inMoma, complains about the lackof sucient energy to ensure thatthe current production processis carried out, which is nowconditioned to the companysexpansion. In the south, Mozalintends to proceed with the thirdstage and needs about 300-500MW.This means that if these projectsbegin tomorrow in terms ofconstruction, I have no energy tomeet this demand within two or threeyears, regretted the CEO of EDM.EDM has the challenges of bringingelectricity to all districts of thecountry by 2014 and improve itsquality and reduce losses due tothe vandalism of the equipment,which in 2012 resulted in losses ofUS$15 million.In Maputo, the supply equipmentis old and obsolete. With morethan 40 years, it results in frequentcuts in urban and suburbanneighborhoods of the capital.Replacement is also one of the mainchallenges for this year.

Africa also livesshortages inabundance

After all, the poor utilization of thereserves is not just a problem ofMozambique. The ADB study revealsthat African reserves of renewableenergy resources are the highest inthe world, and that the continent hasenough renewable energy potentialto meet its future needs.Even though, more than half a billionpeople have no access to electricity,and the continent is faced withthe challenge of generating moreenergy to meet its current and futuredemand.

It is estimated that 18 out of the35 major developing countries areamong the highest rated countries asregards renewable energy reserves,and at least eight African countriesare among the most gifted in termsof wind energy in the developingworld.c

Major electricit generation projects in Moambique

European Investment Bank, World Bank,Norway and France

Mpanda Nkuwa Dam

Capacit:

1,500 Megawatts

Budget:

US$ 2 billion

Some of the funders:Exim Bank of China; EDM; CamargoCorra and BNI

Central North HCB

Capacit:

1,245 megawatts

Budget:

US$ 700 million

Some of the funders:

HCB and Portugal own Funds

Mavusi and Chicamba Dams

Mavusi production capacit:

52 megawatts

Chicamba production capacit:

38 megawatts

Budget:

US$ 39 million


France and Sweden

CESUL Project

Line length:

1.300 kilometres

Transmission Capacit:

3,100 MW

Budget:

US$ 2.4 billion



42/80


Informao Econmica MensalEconom Mombcn / Mozmbcn Economy

Fusio Muss

Economista do Standard Bank

Mercados/MarketsSTANDARD BANK

InfationInation accelerated in April, as published by NationalStatistics Institute (INE), following an ease in March, withMaputo city leading the price increases at 0.6% m/m (monthon month) and 5.06% y/y (year on year), followed by Nampulawith 0.13% m/m and 4.97% y/y, contrasting with monthlydeation in Beira of -0.57% m/m which reduced annualination by 1.16pp (percentage points) to 3.51% y/y.

0

2

4

68

10

12

14

16

18

2005

2006

2007

2008

2009

2010

2011

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%

Inflacao - Maputo (Maputo Inflation)

Anual (Year on Year)

Media (Average)

Mozambiques Consumer Price Index (CPI) which adds the3 cities shows countrys ination up 0.52 pp (percentagepoints) to 4.79% y/y with average up 0.13pp to 2.64%,mainly attributed to food price increases, together with higherhousing, energy (coal) and education costs.

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2005

2006

2007

2008

2009

2010

2011

Jan/12

Feb/12

Mar/12

Apr/12

May/12

Jun/12

Jul/12

Aug/12

Sep/12

Oct/12

Nov/12

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%

Inflacao - Mocambique (Moz Inflation)

Anual (Year on Year)

Media (Average)

Despite the increasing trend, ination is likely to remain atsingle digit this year, around 7%.

InfaoA inao publicada pelo INE (Instituto Nacional de Estatstica)voltou a acelerar em Abril, aps um ligeiro abrandamento emMaro, com a cidade de Maputo a liderar a subida mensal depreos, na magnitude de 0.60% m/m, elevando a anual para5.06% a/a, seguida da cidade de Nampula, com 0.13%

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