Mozambique reaping from East3Route initiative - CNBC Africa

Mozambique reaping from East3Route initiative

Southern Africa

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The East3Route initiative attracts tourism and investment to Mozambique. PHOTO: businesskore

The initiative is an agreement between South Africa, Swaziland and Mozambique and was created to encourage cross-border tourism and assist economic growth and job creation.

Hiuane Abacar, CEO of the Mozambique Tourism Authority, says Mozambique has certainly profited from the agreement.

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“We have seen that we’re getting more and more investment from South Africa and we may say that we are getting more visitors from Swaziland. We are hoping that we get more visitors from Seychelles as [the island] has joined the East3Route,” he said.

(READ MORE: Power play in Mozambique)

Investors are investing various sectors such as minerals agriculture, industry, fisheries and tourism. Areas which have seen great interest from investors and tourists include: Inhassoro, Metangula and Pemba, to name a few.

(READ MORE: Mozambique’s fast developing telecoms sector)

“The last third quarter I saw on the investment promotion canter data, it says that we attracted 1.2 billion US dollars and half of that is on tourism. This is really great when you talk about foreign direct investment,” he said.

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