CAFIS – Consultoria Fiscal e Contabilidade Lda, Mozambique

Mozambique

Economic Overview & Business Opportunities – Mozambique

The Future Looks Bright for One of South Africa’s Top Trading Partners

Bordering several cities around the southeast coast of Africa, the economic overview and business opportunities in Mozambique hold untapped opportunities.

Economic Overview

Mozambique is a city that borders Malawi, Zimbabwe, Zambia, Tanzania and South Africa and eSwatini. Located along the Indian Ocean coastline, the city is 2,500 kilometres east of Madagascar. Approximately 66% of the city’s population work and live in rural areas.

With its strong ties to South Africa, the region’s economic engine, its strategic location makes it a conduit to the global market. The economic overview and business opportunities in Mozambique remain subdued in terms of growth trajectory. This follows the commodity price shock that happened in 2015, and the hidden loans crisis of 2016. Muted growth prospects for 2019 were largely because of the devastating aftermath of tropical cyclones Kenneth and Idai left on the agricultural production.

However, the economic overview and business opportunities in Mozambique are expected to recover by 2021. Rehabilitation efforts are in the works to help spur economic growth. Easing interest rates provide an extra incentive for investors to consider venturing toward this region.

Moreover, the large natural gas reserves which have been discovered in Rovuma Basin put the city in an exciting position. The discovery means exciting business opportunities, potentially attracting major investments. This in turn, calls for a qualified work to meet growth demand. The projected economic boom that is expected to follow with the developments happening in the gas sector promises a very optimistic outlook moving forward.

 

Why Invest in Mozambique?

Any country’s economic overview and business opportunities must present a strong case. There must be strong enough reasons why investors should consider this location over others. As one of the five trading partners with South Africa, Mozambique’s economy continues to stride forward despite the setbacks it faced. Over the past two decades, the it is one of the fastest growing economies in the continent.

Other reasons to consider investing in Mozambique include:

  • The growing economy in anticipation of the incoming investments in the energy sector over the next few years.
  • The thriving tourism sector. The World Economic Forum reports that Mozambique is one of the top 10 tourism destinations and the growth is expected to accelerate in the next decade.
  • The unilateral methods mean there is no double taxation that resident companies need to deal with.
  • Thanks to its abundant natural resources and easy access via sea, the country continues to hold strong as an important destination for foreign direct investment (FDI) within the South African region.
  • The monetary policy that it has in place resulted in a deceleration of inflation, beginning mid-2017 onwards.
  • The Bank of Mozambique has been hard at work since 2007 working on minimising interest rates. Measures include a marginal lending rate of 23.25%.
  • Infrastructure that continues to improve thanks to the large-scale investments in strategic sectors. These sectors include precious metals and energy and mining.

Services Offered

  • Mozambique Company Setup
  • Tax Advice
  • Accounting Consultancy and Outsourcing
  • Payroll Processing
  • Financial Consulting, Business and Leadership
  • Investment Plan / Feasibility Studies

Management Team

Mozambique - Gastão Correia Figueira

Gastão Correia Figueira

Has a vast experience of more than 25 years managing the Accounts department at Cimentos de Moçambique – Grupo Cimpor, and at Grupo IPG as General Manager of SEG. In addition to that, over a period spanning from 1994 to 1996, he embarked on Accounting training in Mozambique, sponsored by the Government and World Bank.

Academic Qualifications

Economics graduate since 1990, with the Economics Faculty at Universidade Nova de Lisboa, after which he completed two post graduations in Lisbon, one at IESEF (Taxation) and the other at ISCTE, for Accounting and Taxation.

Professional Affiliations: Accountant registered with the Auditors and Accounting Order of Mozambique (Ordem dos Contabilistas e Auditores de Moçambique, in Portuguese). Member of the Economists and Official Accountants Order of Portugal (Ordem dos Economistas e da Ordem dos Técnicos Oficiais de contas em Portugal – in Portuguese).

Languages: English and French

Mozambique - Melania João Detepo

Melania João Detepo

With over 18 years of experience in Financial and Accounting management under her belt, she joined CAFIS in 2010, having subsequently been invited to become a Partner at the firm; her main responsibility being towards Financial Management and Human Resources, as well as, managing a significant portfolio of CAFIS clients. Prior to that, she was at CESO as Finance Director.

Academic Qualifications

She qualified to become an Accounting Technician with the Commercial Institute of Maputo (Instituto Comercial de Maputo – in Portuguese), and eventually attained a degree in Accounting and Auditing at ISPU.

Professional Affiliation: She is an Accountant registered with the Auditors and Accounting Order of Mozambique (Ordem dos Contabilistas e Auditores de Moçambique, in Portuguese).

Languages: English

Mozambique - Elton Afonso da Cruz Wane

Elton Afonso da Cruz Wane

Joined CAFIS in 2012, having received an invitation to become an IT Partner, assuming all responsibility for the IT department and integration of management systems.

Academic Qualifications

He is an Accounting technician, qualified by the Institute of Transport and Communication (Instituto de Transporte e Comunicação – ITC), holds a Bachelor degree with ISGECOF and is pursuing his Honours in Accounting and Auditing, with Universidade São Tomás de Moçambique – Business School. He has undertaken a specialisation course in Taxation, promoted by AMOJOC (Associação Moçambicana de Jovens Contabilistas – Mozambican Association of Young Accountants), and a diversified number of specialisation courses promoted by   Primavera Software and became Product Technical. He participated in 2018, the 1st Edition ACADEMIA PME +. Training for executive managers of Small and Medium Enterprises. One initiative of Único Bank, supported by FSD Moz and run by NOVA SBE College.

Professional Affiliations: He is an Accountant registered with the Auditors and Accounting Order of Mozambique (Ordem dos Contabilistas e Auditores de Moçambique, in Portuguese).

Languages: English and Changana

Contact Information

Website: http://www.cafis.co.mz/
Phone: +258 21 48 62 22, Mobile: +258 82 751 3350 , WhatsApp: +351 967 441 849
Email: geral@cafis.co.mz
Address: Avenida Kenneth Kaunda 660 Maputo – Mozambique
Av.Rua Estrada Nacional, Bairro Alto Gingone, Aerodromo de Pemba, Cidade de Pemba Cabo Delgado-Mozambique
Operating Hours (GMT+2:00):
Monday to Friday: 8:00 am – 5:00 pm
Saturday: Closed
Sunday: Closed

Our Accreditation

Members of 3E Global Accounting Network