The European Union (EU) has committed to mobilising more than €300 million (US$349.5 million) in investments for Mozambique as part of its Global Gateway initiative, a worldwide infrastructure strategy designed to foster sustainable development and strengthen economic partnerships. The investment was reported by Mozambique’s official news service.

The announcement was made by the EU’s ambassador to Mozambique, Antonino Maggiore, on Monday in Maputo at the launch of the 2nd Mozambique-European Union Business Forum. Maggiore revealed that €178 million has already been secured to fund schemes within the energy and agribusiness sectors.

The Global Gateway strategy, established in 2021, intends to mobilise up to €300 billion globally by 2027, earmarking capital for investments in transport, digital infrastructure, energy, education, and climate-related programmes. For Mozambique, the focus is placed on attracting private European funds while promoting equitable and sustainable economic growth.

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Confirmed funding, according to the EU delegation, includes €40 million designated for projects improving access to electricity and €28 million for initiatives focused on digital transformation, which encompasses technical training. Additionally, €50 million has been ring-fenced for educational projects supporting both a green and digital transition, and €60 million has been allocated to sustainable value chain development and agribusiness.

Approximately 300 companies have confirmed their attendance at the forum. Discussions at the event will concentrate on areas such as renewable energy, digital innovation, agribusiness, connectivity, sustainable tourism, and development corridors. Strategic transport routes highlighted for regional integration and trade expansion include the Nacala corridor in the north, Beira in central Mozambique, and Maputo in the south.

Further capital mobilisation is anticipated at the 5th Renewable Energies Conference, set for 11-12 June in Maputo, where an extra €120 million is expected to be committed. This conference is set to unveil new renewable energy schemes, including EU-funded mini-grid tenders, investments in solar power plants, and further projects supporting Mozambique’s energy transition.