Market Research in Mozambique
Mozambique is on the southeastern end of Africa, on the coast of the Indian Ocean. Tanzania is to the north, Malawi to the south, and Zimbabwe to the west.
The Mozambican economy is agriculture-based. Agriculture accounts for around one-third of the GDP, with commerce and services contributing another third. The country relies a great deal on the agricultural sector, further cementing its potential growth in the future. Furthermore, the majority of the people engage in agriculture to maintain their livelihood. By the same token, the country’s tropical climate and fertile soils cause this sector to have tremendous growth, and it contributes a great deal to the GDP and total exports of the country. In fact, the main products include cotton, cashew nuts, coconut, citrus, sugar, tobacco, and tea.
Mozambique has many natural resources, but the Civil War depleted its developmental growth. It also destroyed the country’s infrastructure. Still, Mozambicans have not yet exploited many of these resources. They include; bauxite, gold, marble, granite, coal, and gemstones. Mozambique also produces titanium and bentonite.
The tourism sector, although present, is not as developed as it should be. Before the Civil War, the tourism sector was bustling with life. Following the war, the country experienced a massive slump, including the tourism industry.
Maputo is the capital of Mozambique and the largest city by population. It makes a significant contribution to the country’s economy with its commercial and cultural advancements. With sidewalk cafes, bars, and clubs at almost every corner, the city bustles with energy. It offers some of the best nightlife in southern Africa.
Matola, the second-largest city in Mozambique by population, is a beauty. This city has a port and the most significant industrial area in Mozambique.
Located in the Nampula province, this city is the third-largest in Mozambique. Nampula is a peaceful place with a few beaches and villages littering the coastline. It is not as industrialized as Maputo or Matola.
The government is pushing the agricultural, mining, and services sectors. Mozambicans are harvesting more produce to gain foreign capital. Also, amidst the COVID-19 pandemic, tourism has seen an increase, bringing visitors from all walks and cultures and allowing investors to gain a sense of the market value in Mozambique. It is also generating industrial power to create a thriving economy. These new investments make it possible for Mozambique to revolutionize its economy.
Benefits and Strengths in the Market
Mozambique has many untapped resources that can boost the country’s economy. For example, it can quickly become one of the leading exporters of gas. Based on recent discoveries, it may also come to dominate the coal market.
Mozambique has very low purchasing power parity, one of the poorest in the world. This is because of its 15-year-long civil war that ended in 1992. The country has a low literacy rate, and the people earn little. Because of the ongoing pandemic, retail sales have been difficult to predict and gather. Consumer spending are challenging to track because of the low wages of the people.
Reasons to Grow Your Business in the Market
Mozambique is one of the top five trading partners of South Africa. It has a fast-growing economy. It also has the ideal geography and climate for investors. Mozambique is anticipating significant growth in the agricultural, tourism, and mining sectors. Evolution in tourism also means that their people have a newfound source of income by way of selling crafts and interacting with visitors.
About Market Research in Mozambique
Mozambique is a unique country that has much potential for investment. Before entering the market, it is imperative to carry out Qualitative, Quantitative, and Strategy research. Market Research can also involve Focus Groups, Interviews, and Surveys, all of which are offered by SIS International Research.