(2015-07-23) The Portuguese-Mozambique investment fund InvestimoZ has signed a second financing agreement underwriting the construction of a hotel complex in Pemba, northern Mozambique, the company’s executive director for financing Francisco Almeida Leite announced recently.
InvestimoZ, jointly created by Portugal and Mozambique in 2010, is managed by financial credit institution Sofid and the Portuguese Development Bank, with 60 percent state ownership.
The hotel represents an investment of 4.1 million euros, and the InvestimoZ loan is in the order of 570,000 euros. Hotel guests will probably include foreign staff involved in the exploitation of natural resources in the area, Leite says.
With a total investment of 1.1 million euros, the project is yet another in the InvestimoZ pipeline. Says Leite: “This year we will sign an agreement worth 10.5 million euros in the textile sector, which the government of Mozambique says is essential for the country.”
InvestimoZ recently lent 800,000 euros to Portuguese company Mecwide, which is to acquire a 90 percent stake in Mozambican company MIM and will invest a total of 5.05 million euros in the construction of a metalworking plant.
Francisco Leite also revealed that there are four projects approved by the joint committee of the two countries and several are ongoing. A fifth, in the infrastructure equipment rental sector, should be approved this month.
Source: A Bola
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