HomeBusiness DigestMozambique's Guebuza sworn in for second term

Innscor earnings increase by 59%

MAPUTO (Reuters) – Mozambican President Armando Guebuza, who has promised to relax foreign investment rules and push ahead with economic reforms, was sworn in for his second term Thursday and said fighting poverty was his priority.

The millionaire businessman is under pressure to provide poor Mozambicans with the benefits of tourism and untapped mineral and energy resources that have started to draw foreign investors.

Guebuza won 75.46 percent of the vote in October’s election, beating his rivals, long-time opposition leader Afonso Dhlakama, and Daviz Simango, the head of a new party.

His Frelimo party, in power since it led the country to independence from Portugal in 1975, won 191 parliamentary seats out of 250.

“We want to bring to the attention of the Mozambican nation that the time has come to set aside political differences, which characterized the competition for votes, and to devote ourselves, with all our strength, to the fight against poverty,” he said in his inauguration speech.

He said the government would seek to partner with private sector companies, faith-based organizations and other civil society groups in its bid to reduce the number of poor people.

Mozambique is one of Africa’s poorest countries and still relies heavily on donor aid after a 17-year civil war which ended in 1992. However, it has growing economic potential, with economic growth at 6 percent in 2008 and expected at 4.5 percent in 2009.

Guebuza made his fortune in the energy, transport and port industries.

Recent Posts

Stories you will enjoy

Recommended reading