Good afternoon. Champagne corks are no doubt popping in the corridors of government after two important achievements over the last few days. On Friday, the Financial Action Task Force (FATF), an international anti-money laundering body, decided to remove Mozambique from the so-called “grey list” of countries deemed to have inadequate protections against money laundering and terrorism financing.
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On the same day, TotalEnergies, the energy company in charge of developing a liquefied natural gas (LNG) production project in Cabo Delgado, told President Daniel Chapo that it was lifting “force majeure”, the legal status which has governed the suspension of the project's contracts for the last four and a half years. The action means that TotalEnergies and its partners have decided that the security situation has improved enough to resume work since the insurgent attack on the town of Palma, next to the project's construction site, in March 2021.
These are very welcome developments for the government which will give it a much-needed public relations boost at a time when the government and the ruling Frelimo party remain unpopular, public finances are in a terrible state, unemployment is worryingly high and economic growth is weak. They should also provide some benefits for the economy by encouraging foreign investment and job creation.
