The visit marks a significant step in strengthening economic ties between Mozambique and the global financial institution, with a strong emphasis on energy sector co-operation.

Chapo has expressed his government’s interest in deepening collaboration with the World Bank to structure major economic projects that could transform Mozambique into a regional energy hub.

He highlighted the importance of ongoing and potential megaprojects such as the stalled liquefied natural gas initiative by TotalEnergies, and the upcoming ExxonMobil venture, one of the most significant foreign investments in the country’s oil and gas sector.

“The support of the World Bank in these structuring projects for the national economy makes Mozambique an important part of the energy solution, especially in the southern region of the continent,” said Chapo.

Banga’s visit comes as southern African nations grapple with persistent electricity shortages. Many countries in the SADC region are exploring alternative and sustainable energy solutions, and Mozambique’s rich natural resources have placed it in a strategic position to help fill the gap.

The World Bank President reaffirmed the institution’s commitment to Mozambique’s energy ambitions, pledging new partnerships aimed at reinforcing the country’s energy infrastructure to benefit both domestic consumers and the broader region.

--ChannelAfrica--