‘Mozambique needs to be practical’

MAPUTO. – Mozambique has to take advantage of the difficult time it faces to implement practical strategies designed to stimulate economic growth, said Sola David-Borha, chief executive of the Standard Bank Group for African Region. The executive explained to Xinhua in an interview in Maputo that the existing measures need to be implemented by Mozambique, which has good opportunities at the moment with investments from experienced countries such as China.

“I give examples of countries like China because they are those who have been and are practical in the implementation of strategies designed, either in the economy or in the development of infrastructures. I think this is the crucial point missing in Mozambique,” she said.

David-Borha participated in the Financial Times Mozambique Summit in Maputo, which focused on the hidden debts that the country has contracted, with the theme “Reducing Investment Risk through Better Business Practices”.

“Mozambique has to make serious progress with measures and strategies in the contracts it makes with large companies, be they in construction, mining or other sectors, and capital gains are a great opportunity for domestic investments and filling the gaps,” she added.

Questioned about how Mozambique can behave towards foreign investment, David-Borha said that the government has to ensure that the interests of the country and the people are put in the first position.

Basically, David-Borha was precise in stating that investments made in agriculture are quite few, and with gains from other areas the country can give much more support to this sector that needs investment. The head of the Standard Bank Group for Africa said that the improvements made by the government shall be translated into lower taxes and inflation control, which won’t happen unless the plans are operational, just like the Asian countries. - Xinhua

 

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