Investors look eastwards

摘要

While Africa's oil and mineral-rich western regions dominate the headlines, Mozambique has slowly but steadily been turning investors' heads towards the continent's east coast. Mozambique is not often cited as a poster boy for the African growth story. Compared to its wealthier peers in sub-Saharan Africa it remains a relative minnow. Unlike its cousins in west Africa, it does not have vast resources of oil to tap and its mineral wealth is limited. The country still relies heavily on donor aid, which makes up almost 6% of gross domestic product (GDP) and subsistence farming continues to employ the majority of Mozambicans. Yet despite these shortcomings, Mozambique is booming. In May, finance minister Manuel Chang announced that he expects foreign direct investment (FDI) to leap by up to 30% during the next four years.