To maximise Mozambique’s prime conditions for investment, you’re going to need a partner who understands this dynamic market
Mozambique, a vibrant country rich in diversity is presenting itself as a highly promising destination for foreign investment. The Mozambican economy is expanding and offers a wide range of opportunities across several key sectors. Renewable energy, agriculture, tourism, energy, fisheries, and mineral resources (especially coal and gas) stand out as particularly attractive areas for global investors.
Renewable energy
The conditions for private investment in renewable energy in Mozambique are more favourable than ever. The government has set ambitious targets for energy policy, such as ensuring access to electricity for the entire population by 2030, and recently passed a new electricity law that provides an improved legal framework for independent energy producers and the production of renewable energy. The New Electricity Law preserves the main aspects of the structure and operation of the National Electric System, creates conditions for broader and more effective participation of the private sector in the supply of electrical energy and in the execution of projects related to new and renewable energy. Furthermore, it promotes greater transparency in concession processes. The energy sector in Mozambique is constantly transforming and is moving in the right direction.
Extractive industries
Mozambique’s mineral wealth is another area of emphasis. The country has the potential to become one of the largest producers of coal and natural gas in the world. This capability is increasingly attracting interest from foreign investors, given the growing global market for these resources. The exploration and development of these mineral resources is crucial to Mozambique’s economic growth and offers significant opportunities for investors in the energy sector.
Tourism
Tourism is another booming sector, with Mozambique offering some of the most stunning natural beauty in the world. Its extensive coastline covering some 2,515 kilometres is adorned with capes, bays, islands and incredible beaches, many of which remain completely as nature intended. The crystal clear waters, white-sand beaches, rich biodiversity, delicious and varied cuisine plus the warm local hospitality all combine to provide a unique and unforgettable experience for both local and international tourists.
Your partner in Mozambique
Palma Seguros – a Mozambican insurance company founded in 2018 – is positioned as a strategic partner for foreign investors. Operating in the short-term insurance sector, the company has accumulated extensive experience in supporting investors who wish to explore the Mozambican market. One of Palma Seguros’ fundamental values is innovation, and the company is committed to developing innovative products, processes and platforms to improve the experience and relationship with its customers.
Bonds and Guarantees particularly stand out among Palma Seguros’ comprehensive portfolio of products and services. The company were pioneers in Mozambique in the commercialisation of this type of insurance, which is essential for companies that wish to start operations in the country. Guarantee Insurance offers an effective and more economical alternative compared to traditional bank guarantees, with less bureaucracy involved. This product allows companies to sign contracts with public and private entities, ensuring their proper execution.
For example, your company may sign a contract for a certain service with a private or state company. The contracting company will request a guarantee for the comfort of this operation. Palma Seguros issues this guarantee, the beneficiary of which will be the company that hires the services in the event of non-compliance with the contracted services.
Additionally, as an insurance company, Palma Seguros has expansive commercial expertise that supports the needs of large projects. Namely Liability Insurance, which guarantees damages that, in the course of the activity, may be caused to third parties. Palma Seguros’ Motor Insurance has received notable industry awards for two consecutive years (2022 and 2023) for its innovation. The company’s motor insurance product is inclusive of tracking and roadside assistance. It also offers solutions to help with the acquisition of new vehicles (credit protection insurance) and a product that guarantees vehicle maintenance with a 50% discount compared to the scheduled value (maintenance plan insurance). Palma Seguros can also list insurance for goods in transit, work accident insurance, health insurance, among many others that we can offer.
Commitment to excellence
Over the years, Palma Companhia de Seguros, S.A. has worked diligently to improve its processes and underwriting lines and has fine-tuned a streamlined and expert service for its customers.
The company is proud of making its processes agile and easy to adhere to, always maintaining a high standard of quality. Palma Seguros’ solid reputation in the market is built on trust and compliance with its responsibilities, and makes the company a reliable choice for insurance products.
For any investor interested in obtaining more information about insurance opportunities and solutions in Mozambique, Palma Seguros has a highly qualified team ready to answer your questions and offer guidance across all necessary procedures. Palma Seguros is your partner in Mozambique, ready to support and facilitate your success in this market of opportunities.
Further information
palmaseguros.co.mz
