Boom Times for Mozambique
Only a couple of weeks ago Ruchir Sharma published a terrific article making the argument for the next seven breakout nations after the BRICS, which included two of my favorites, Thailand and Nigeria. But perhaps if he had waited for today’s news, maybe even Mozambique could make the list.
Today Eni has made yet another announcement of a considerable natural gas discovery of the coast of Mozambique, adding to numerous previous discoveries in recent years that could make the country a new energy leader on the continent in the near future.
But like most of Sharma’s breakout nations, Mozambique’s business opportunities are matched only by its considerable political risks, drawing some comparisons with the challenges for foreign investors in other Lusophone countries such as Angola.