“The Afreximbank has committed to financing infrastructure, energy, oil, and gas projects to the tune of 3 to 4 billion dollars. Afreximbank is a strategic partner for Mozambique as well as many other African countries, and we are committed to financing and developing projects that add value to Mozambique,” said Richman Dzene, director of the president’s office for research and policy at Afreximbank, today.

This statement was made in Maputo after the new president of Afreximbank, George Elombi, met with Mozambican President Daniel Chapo. Besides the sectors of energy, oil, and gas, discussions also included financing initiatives in tourism and mineral processing.

“The President showed openness to cooperating with Afreximbank. Mozambique is open to working with the bank on everything necessary. This is an African bank and deserves to be embraced. Mozambique and Afreximbank will work together to finance and ensure the success of structural projects,” Richman Dzene stated.

The Mozambican Presidency also noted that Afreximbank is a multilateral financial institution established in 1993 under the African Development Bank’s auspices, playing a central role in supporting African trade and financing large economic impact projects.

The bank is a pan-African financial institution owned by regional countries, aimed at financing and promoting intra-African trade as well as exports from African countries.

Afreximbank reported a profit of 973.5 million dollars (854 million euros) in 2024, a 29% increase from 2023, driven by “significant contributions” from its subsidiaries, according to the institution.

Mozambique has three approved megaprojects for the exploitation of LNG reserves in the Rovuma basin, among the largest in the world, off the coast of Cabo Delgado. These include the TotalEnergies project (13 mtpa) and another by ExxonMobil (18 mtpa), worth 30 billion dollars (25.8 billion euros), pending a final investment decision, both located on the Afungi peninsula, where “force majeure” was lifted in November.