Mozambique is one of the financial world’s best-kept secrets. The south-east African nation is forecast to be among the 10 fastest growing economies in the world, according to the International Monetary Fund, which predicts an average annual growth in gross domestic product (GDP) of 7.6% from 2010 to 2016.
But as is common with many other countries in sub-Saharan Africa, the story behind the growth is one of agriculture and natural resources rather than home-grown financial and business activity. About two-fifths of GDP comes from farming and food, and another 20% from manufacturing, which mainly comprises mining and gas. Financial services are small as a share of the economy and the capital markets are undeveloped, especially compared with neighbouring South Africa.
