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MOZAMBIQUE - Economy

Nuno Alvarez Piñera

Managing Director, Mozambique-Spain Chamber of Commerce

Bio

Nuno Alvarez Piñera is Managing Director of the Mozambique-Spain Chamber of Commerce. He is a senior executive with extensive experience in general management, administration, human resources, and the areas of commerce and finance. He has 29 years of experience mainly in the banking industry in Europe and Africa. He was General Manager of IMOBCI, the real estate branch of the second largest Mozambican bank BCI (2014 to 2016) and CEO of International Commercial Bank Mozambique from 2012 to 2014. He graduated in business administration and a finished post-graduate studies in banking. He speaks Portuguese, Spanish, English, and French.

"The chamber’s mission is to serve its members by providing market information. It was established by Spanish businesspeople and companies already based in Mozambique to answer the lack in Spain of official information about the country."
TBY talks to Nuno Alvarez Piñera, Managing Director of the Mozambique-Spain Chamber of Commerce, about the Chamber’s mission, bilateral trade between the countries, and investing in Mozambique.
Can you provide an overview of Mozambique-Spain Chamber of Commerce and its mission?

The chamber’s mission is to serve its members by providing market information. It was established by Spanish businesspeople and companies already based in Mozambique to answer the lack in Spain of official information about the country. One of our primary goals is to gather and disseminate this information to our members and any Spanish company looking to do business in Mozambique. Additionally, we aim to offer onsite support and guidance to companies, sharing insights into the country’s strengths and weaknesses. Our practical approach, based on experience, benefits newcomers to Mozambique.

What initiatives has the chamber taken to promote bilateral trade between Mozambique and Spain?

Networking events are a cornerstone of our efforts. These events facilitate connections between our business community, the Mozambican community, and businesses from other countries. We collaborate with other chambers of commerce to promote and foster business relationships. Previously, there was no forum for Spanish businesspeople to connect with others in Mozambique. The main advantage is that these events allow people to meet and explore potential business opportunities. We also offer support to Mozambican companies looking to do business in Spain, although the balance in numbers is currently skewed.

What have been some of the chamber’s achievements?

We have supported several Spanish companies on their approach to the Mozambican market, whether looking for a commercial partner or on the establishment of their branch in the country. Potential investors value the perspective of Spanish businesspeople already established in Mozambique. The growth of our business community is the best evidence of the success of our work.

How do you see the future of Spanish investment in Mozambique?

The trade balance between the two countries has traditionally been favorable to Mozambique. Just to put it in perspective, in 2023 Mozambique exported to Spain 5 times more than it imported from this country. The main reason for this situation is the fact that Spanish businesses are primarily focused on their traditional markets. It is essential to showcase Mozambique’s potential beyond Oil & Gas, namely in the tourism and agricultural sectors, sectors where Spain holds extensive expertise. Additionally, the EU and Mozambique signed an economic agreement in 2018, reducing tariffs on their trade. This presents opportunities for both regions; however, meeting European technical requirements poses a challenge for many Mozambican companies, and we support them in navigating these hurdles. So, answering you question, the trade/investment between both countries will increase significantly in the coming years and the Spanish Chamber of Commerce will certainly assist companies of both countries in this journey.

What are your strategies for 2024-2025?

We aim to enhance our commercial initiatives for more effective outcomes. Thinking creatively, we plan to organize a trade fair for Spain. Such an event could attract various commercial missions, allowing for direct business-to-business interactions. Such initiatives are crucial for discovering new companies, particularly smaller ones not listed elsewhere. We want to engage more with Mozambican businesspeople, who are increasingly seeking business opportunities.

What message would you give to Spanish investors interested in Mozambique and vice versa?

Having initially planned a two-year stay, I have now been here for 12 years. Mozambique has a way of captivating and transforming you. The good weather and the charming population only add to its allure. Unlike other countries in the region, in Mozambique you will find an economic, tax and legal system similar to the Spanish one. Language is not an obstacle to communication. Spaniards are well received in Mozambique, mainly due to the extensive collaboration between the two countries in terms of Development Cooperation. Mozambique is on the brink of significant growth, with promising projects in the oil and gas sector that will position the country as one of the main LNG producers in the world. Mozambique is at the beginning of its golden age. Beyond natural resources, Mozambique boasts potential in agriculture, tourism, and renewable energy. Spanish expertise in agriculture, for instance, could be invaluable. With the right knowledge and management skills, there is vast potential for success here.

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