Maputo — The Mozambican President Daniel Chapo has reaffirmed that the energy sector holds a central position in the country's economic transformation agenda.
According to the President, speaking on Wednesday, in Maputo, at the opening ceremony of CEO Summit, the energy projects under development in the Rovuma Basin, Northern Province of Cabo Delgado, represent an estimated investment of over 50 billion US dollars.
"The government's goal is to use these major projects as a platform to accelerate industrialization, increase national productive capacity, create skilled jobs, and strengthen the Mozambican business sector," he said.
According Chapo, Mozambique must to move away from excessive reliance on the extractive industry and use revenues from major projects to boost other productive sectors, such as agriculture, tourism, infrastructure, logistics, digital transformation, and industrialization.
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"Energy should not be regarded merely as an export product, but as an essential tool to drive the country's economic development. The goal is to use energy production capacity to increase national output, add value to raw materials, create more jobs, and make the Mozambican economy more competitive", he said.
According to Chapo, the strategy relies on a partnership between the State and the private sector, "which is crucial in transforming the country's potential into sustainable economic growth and improved living conditions for the population."
The President explained that the focus is integrated in the development of Zambezi Basin's hydroelectric potential. "The plan envisages the consolidation of Cahora Bassa hydropower (HCB) plant and the progressive development of new projects, specifically Mphanda Nkuwa, Lupata, Boroma, and others deemed technically viable", he said.
"The goal is to align management with international best practices, reduce exposure to currency exchange risks, and secure revenues that contribute to national development", he added.
Another priority is expanding access to electricity through the Energy for All Project. The government maintains its target of ensuring that "all Mozambicans, in both urban and rural areas, have access to electricity by 2030."
"The Government considers universal electrification a decisive factor in improving education, healthcare, entrepreneurship, and the quality of life for communities. Mozambique can play an increasingly significant role in Southern Africa's energy security, at a time when several countries in the region are facing electricity generation shortfalls", Chapo said.
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