The Mozambican government and the Arab Bank for Economic Development in Africa (BADEA) signed a $20 million financing agreement on Friday (16) for the construction of the Angoche Fishing Port in Nampula province, northern Mozambique. The project aims to strengthen the exploitation of fisheries resources and improve infrastructure supporting economic activity in the region.

According to Lusa, the agreement was signed by Finance Minister Carla Louveira on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings, as part of the government's efforts to mobilise external resources for the development of strategic infrastructure.

According to the Ministry of Finance, the funds form part of the government's strategy to strengthen public investment, with a particular focus on improving essential services and creating conditions for sustainable economic growth. "The amount is earmarked for the construction of the Angoche port and is part of the government's efforts to mobilise financial resources to strengthen public infrastructure, improve the delivery of essential services and promote sustainable economic growth," the Ministry of Finance said in a statement.

The project includes the construction of berthing, processing, storage and fish trading infrastructure, seeking to improve operating conditions for artisanal, semi-industrial and industrial vessels. According to the Fisheries Infrastructure Administration (INFRAPESCA), the port will have capacity to accommodate 40 artisanal vessels, ten semi-industrial and 15 industrial vessels. Processing facilities, cargo-handling equipment, cold storage spaces and a local fish market are also planned.

The facility is expected to help reduce existing constraints in fish handling and preservation, improving trading conditions and creating business opportunities along the fisheries value chain. The project was officially launched in July 2024, during the presidency of Filipe Nyusi, at a time when the government was targeting completion of works within 24 months. The total investment announced on that occasion exceeded $30 million, with financing from BADEA and the OPEC Fund for International Development.

However, the financing now announced has prior history. In October 2018, Mozambique concluded a $20 million credit agreement with BADEA for the construction of the Angoche Fishing Port, subsequently ratified by the Council of Ministers through Resolution No. 2/2019, published in the Official Gazette on 25 January 2019. It has not yet been clarified whether the agreement signed in October 2026 represents additional financing or a formalisation of resources previously approved for the same project.

For the government, the completion of the project is expected to contribute to job creation, the development of fishing communities and the strengthening of the local economy in a region where fishing represents one of the population's main sources of income.