HomeBase MetalsMining grows Tete province by 40%

Mining grows Tete province by 40%

From across the river,
the city of Tete “’ the
most rapidly developing
centre in Mozambique
Tete, Mozambique — 03 May 2013 – During the year 2012 the Tete province in Mozambique posted an estimated economic growth of no less than 40%, driven mainly by the rapid pace of development of the mining industry.   

Revealing this at a meeting organised by Standard Bank, the bank’s director for private banking, small and medium sized enterprises, Chuma Nwokocha projected that the 40% economic growth posted in 2012 would continue into this year.

The meeting was organised by the bank in the city of Tete to promote financing solutions and partnerships focused on small and medium sized businesses, reports Macauhub News Agency.  Known as Standard Bank Expresso, the meetings are being focused on the implications of the economic transformation in a global context, and of macro-economic policies on businesses, particularly in that region of Mozambique.

Cited by daily newspaper Notícias, Nwokocha added that the planned series of meetings had been launched in Tete as it was the province with the greatest economic development. They would be extended to other cities, and each meeting would provide economic information relating to the relevant respective provinces.

Source: Macauhub News Agency. For more information, click here.