AGP Executive Report
Last update: 4 hours agoLNG & gas investment friction: Mozambique is disputing TotalEnergies’ claim that Mozambique LNG delays cost $2bn in overruns, saying an audit couldn’t confirm the figure and that an updated development plan is still under discussion as the project restarts after a force majeure. Fiscal pressure from megaprojects: State revenue from Large-Scale Projects fell 40.5% in 2025 to 11.7bn meticais, with losses at Mozal and other firms weighing on mining, hydrocarbons and metallurgy-linked receipts. Post-unrest and disaster rebuilding: The government approved using 3.57bn meticais from accumulated oil and gas revenues for reconstruction of infrastructure damaged by 2024–25 unrest and floods/cyclones. EU investment push: The EU plans to mobilise over €300m for Mozambique under Global Gateway, with events in June targeting energy and agribusiness. Food security hit by floods: FAO says it needs $107.6m to help 1.8m victims of extreme weather by 2031, with Gaza, Inhambane, Maputo, Sofala, Manica, Tete and Nampula hardest hit. Trade & compliance: Mozambique Police seized a Matola truck carrying 40,000 litres of fuel suspected for smuggling to South Africa. Foreign currency squeeze: CIP and business groups warn Mozambique’s manufacturing, agriculture, tourism, mining and logistics keep getting disrupted by US dollar shortages and exchange-rate swings.
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