Grace Goodrich, Field Editor
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Mozambique defied global investment flows by reporting a rise in deal activity in 2020. Now, the country seeks to engage local service providers to supply goods and services to gas megaprojects to drive in-country value generation and retention.
While overall transactions dropped by eight percent in sub-Saharan Africa in 2020, in Mozambique, the number of transactions rose, with 12 deals reported compared to only four deals in 2019, according to a Baker McKenzie analysis. Despite ongoing market uncertainty due to COVID-19, for Mozambique, this comes as little surprise: in recent years, the country has emerged as a regional hub for energy investment and development on the continent, as foreign investors spearhead gas megaprojects and local service providers seek to access large-scale contracts.
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Mozambique sowing seeds of industrial farming foodformzansi.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foodformzansi.co.za Daily Mail and Mail on Sunday newspapers.
Grace Goodrich, Field Editor January 29, 2021
While the Angolan insurance sector retains a relatively low penetration rate with limited ability to service large and special risk – including large-scale oil and gas projects – local insurance companies are working to counter this by expanding their financial capacities.
Tiago Dá Mesquita, CEO of Aon Angola – a leading global provider of risk management, insurance and reinsurance brokerage – speaks to Africa Oil & Power about the post-COVID-19 pathway to a more robust domestic insurance industry.
What is the current outlook for the insurance sector in Angola?
The insurance market goes hand-in-hand with the markets whose risks it covers. When the [insured] markets rise, so does the outlook for the insurance market, and vice versa. Despite the existence of multiple waves of COVID-19 in different countries, the advent of vaccines will progressively bring about the recovery of the global and Ang