Market research in Mozambique
The government recently invested $500 million in the form of loans to allow small scale farmers to become more sustainable. The country is also investing large amounts in the mining sector in order to truly take advantage of its vast mineral deposits, ranging from coal and graphite to rare stones and rubies.
Mozambique, located in southern Africa, has a large coastline along the Indian Ocean. The country managed consistent and stable economic growth over the years, but slowly declined due to natural disasters, repeated commodity price shocks, and more recently Covid-19. Between 2016 and 2018, the economy grew by an average of 3.7% per annum, as opposed to 6.7% in 2015. However, the prospects are still bright.
Projections estimate growth to rise to up to 8% annually over the next decade, thanks to the discovery of large natural gas deposits. Historically, Mozambique’s GDP has been driven by agriculture, construction, and finance. Agriculture sector employs about 70% of the population, but is still underdeveloped.
Why conduct market research
For now, the industry is limited, and comprises only extraction, but the government is look to move into processing, which would create employment and improve exports. Tourism is another sector the government is attempting to develop. The country holds an impressive and unique landscape with rich and diverse wildlife, in addition to a pristine and untapped beach front.
There are a plethora of investment opportunities in Mozambique, but there remains some difficulties to keep in mind. There is a stable, but weak economic environment, despite clear and obvious efforts by the government to attract foreign investment. However, there are some gaps between the reality and the goals set, with slow processes and cumbersome red tape. There is also a lack of trained personnel, and weak infrastructure.
Representative market data
Mozambique’s economy is growing. The recent discovery of natural gas should only provide a further boost to the growth. Mozambique’s government is also taking the necessary steps to ensure sustained growth and improve the life of its citizens. As the country becomes more affluent, its consumer base’s tastes will change, allowing for new products to gain footing in the market.
Mozambique’s consumer base is changing rapidly. As a result, new opportunities are sure to arrive for both local and foreign companies. It is therefore key to have representative and up-to-date information about the country’s marketplace. Here are at Sagaci Research, we are able to provide an array of data that is constantly updated for you to act on emerging trends:
Market research methods in Mozambique
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More about syndicated research in Mozambique
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