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MOZ-ESWATINI JOINT VENTURE

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MBABANE – A new joint venture company between Esperanca Holistic Development Lda based in the Zimbezia Province of the Republic of Mozambique and Gas and Oil Refinery Industries (Pty) Ltd based in Manzini has been formed.

Gas and Oil Refinery Industries Managing Director Mark Andrade explained that the joint venture established between the two private entities, which were represented by Jeremias Ramucesse and Moses Motsa, sought to explore various areas of business cooperation starting with the development of operation of a mega project referred to as ‘The Great Canal of Mozambique’. Andrade said the US$4 billion mega project seeks to extend the coastal trading route beyond the City of Matola and led to the realisation of an integrated trade area encompassing businesses focused on tourism, industrial processing, fisheries, agro-processing and other businesses alike, therefore, activating what was referred to as the blue ocean economy.

Evident

“It is clear from the onset that such a project is of a grand scale and that benefits extend across borders as is evident from similar mega projects conducted internationally,” said Andrade. The joint venture happened during the inaugural state visit to the Kingdom of Eswatini by Filipe Jacinto Nyusi over the period March 15 to 17, 2019. This business mission was graced by the presence of Nyusi and Prime Minister Ambrose Dlamini, who were accompanied by a delegation of cabinet ministers. The business forum offered a platform to entrepreneurs and businesspersons alike from both countries where issues affecting cross-border trade and possible solutions were discussed at length.

Enabling

In terms of benefits, Andrade explained that the project was set to boost the economies of each country through cross-border trade and enabling a migrating workforce and sustainable job opportunities around the area of development in the Province of Maputo. “It is estimated that the job opportunities will extend beyond the 25 000 during the development phase and have a net result of an additional 15 000 jobs during operations,” said Andrade. The MD mentioned that the Great Canal of Mozambique was set to be established in the Republic of Mozambique and would comprise of a joint management team – drawing on business expertise and project management acumen across both countries making it a regional business operation.

Venturing

Andrade stated that other areas of cooperation would see the newly-formulated company venturing into other niche areas, logistics and integrated agro- processing, therefore creating new value chains and creating new regional supply chains that shall have a resultant event of integrated trade across the Southern African Development Community (SADC) region.

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