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Speaker 1: The Money Show African Business Focus.

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Speaker 2: Professor Rotendo and Dngu is the founding director of Tribe

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Speaker 2: Africa Advisory and author of Rumble in the Jungle reloaded

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Speaker 2: How's it? Rotendo, Mozambique and the IMF, and we realized

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Speaker 2: what a shock it was when we realized how much

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Speaker 2: money was out and what's happened there.

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Speaker 1: Believing Stephen and grieving to a listeners. So, Mozambique obviously

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Speaker 1: implementing a number of keychieties under their leader, President Daniel Chapple.

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Speaker 1: They've cleared a debt of about six hundred and thirty

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Speaker 1: million US dollars Stephen, and in the last month, I

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Speaker 1: think they cleared about one hundred million US dollars because

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Speaker 1: in March they order about five hundred and fifteen million dollars.

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Speaker 1: So this is quite key for Mozambique because obviously it

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Speaker 1: relies a lot in terms of AGREE, natural resources and

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Speaker 1: foreign directing investment. It's always trying to set itself up

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Speaker 1: as an attractive investment center the country in terms of sector,

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Speaker 1: Stephen of its services, of its the of its GDP

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Speaker 1: services sector and about twenty four percent in AGREE and

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Speaker 1: then the rest spread across different industrial sectors, GDP growth

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Speaker 1: five point four percent, so on in all a positive step.

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Speaker 1: And remember, over and above the steven they have that

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Speaker 1: huge investment project that has restarted. I gave this year

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Speaker 1: the L and G one for twenty billion US dollars

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Speaker 1: backed by Total and another number of top world first

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Speaker 1: World countries. So only in all steven a right direction

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Speaker 1: for mozambiqu They've o really said a bit of political

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Speaker 1: instability over the last few months, but it's something moz

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Speaker 1: ambig needs to be dead free. I think any county

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Speaker 1: would want it, especially to the IMF, and it just

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Speaker 1: opens up other opportunities in other areas with regards to

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Speaker 1: partner to the IMF.

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Speaker 2: It's so interesting to see how quickly that happened. I mean,

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Speaker 2: it would obviously really matter in terms of economic reform

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Speaker 2: and mozambiqu which is something it seems and I say

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Speaker 2: this is an outsider that they've struggled a little bit with.

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Speaker 1: Yeah, they have struggled a little bit of it. To Stephen,

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Speaker 1: I mean, six to sixty five percent of the population

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Speaker 1: still lives under the poverty line, so this is quite significant.

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Speaker 1: So if anything, any bit of help with regards to

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Speaker 1: dead relief SME stimulation and FDI investment, especially as I said,

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Speaker 1: the energy project quite key because the whole value chain

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Speaker 1: that that that that rotates around it will stimulate different

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Speaker 1: parts of the economy, with obviously the Capo del Galdo

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Speaker 1: and the Teta Air being key. But in a natural

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Speaker 1: stealing a spot on they actually they need any kind

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Speaker 1: of help to stimulate them. But at the end of

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Speaker 1: the day, putting away six hundred and thirty million to

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Speaker 1: the IMF and not having the dilemmas that we saw

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Speaker 1: in Kinga and Nigeria ahead with regards to owe in

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Speaker 1: the World Bank and IMF is a positive thing and

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Speaker 1: a step in the right direction.

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Speaker 2: A Ghana. They've scrapped their visa people people from our content.

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Speaker 2: They're still screening though, I mean, what's what's that mean?

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Speaker 2: In practice?

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Speaker 1: It just means that when you do go on holiday, Steve,

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Speaker 1: we'll make sure that Stephen Grocees is Steven Grotes are

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Speaker 1: not ROUTNDO. But I think the positive thing about the

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Speaker 1: Stephen is that obviously the big thing about the FCFT,

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Speaker 1: and remember that the Secretariat for the FCFT actually resides

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Speaker 1: in Ghana, and that's his excellency. One kill himself, but

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Speaker 1: they have scrapped visa fees from them and the significant

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Speaker 1: date is the twenty fifth of May, which is Africa Day.

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Speaker 1: They follow suits to four other countries, so the Gambia

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Speaker 1: has done the same thing, Ruanda Secials and also I've

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Speaker 1: forgotten the other country. So it's the Gambia, Randa, Sey

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Speaker 1: Shells and there's one more country that I've forgotten about.

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Speaker 1: But all in all, Stephens the reason is the one

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Speaker 1: to make it easier for people to be coming in

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Speaker 1: and out of the country, which is a positive thing.

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Speaker 1: I think the concern obviously is that you have to

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Speaker 1: continue the screening. The other upside with the Steven it's

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Speaker 1: in line with their e visa system, so they've gone

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Speaker 1: digital in terms of the whole process. So even those

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Speaker 1: screening is going to be there. The efficient of it

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Speaker 1: should be higher from the border control perspective because obviously

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Speaker 1: they're using technology and the pre screen happens before. I

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Speaker 1: don't think you can stop from a security perspective and

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Speaker 1: just managing the borders. I don't think the screening element

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Speaker 1: will go away, but definitely it does make it slightly

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Speaker 1: easier to go in and out of Ghana. Way that

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Speaker 1: you're coming on holiday or coming on business and with

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Speaker 1: the whole ambition. I think some of the fees for

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Speaker 1: African countries st even were going up to about two

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Speaker 1: hundred juist dollars. So in the big vision of ACAFET,

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Speaker 1: it's definitely stepping in the right direction.

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Speaker 2: No, sure, that is a lot in Courtavoir, the rubber industry,

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Speaker 2: a lot more women getting involved there.

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Speaker 1: We actually underestimate, I mean until I saw this reports

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Speaker 1: the size of the rubber industry in quote if bois,

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Speaker 1: I mean we know Cortivoir or the every cost there's

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Speaker 1: been a kick producer and export of coco. The rubber

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Speaker 1: industry contributes about twenty percent of the GDP and they're

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Speaker 1: the fourth probably largest producer in the world and the

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Speaker 1: second l in Africa. But a big step has been

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Speaker 1: taken by women, and this is with the support of government.

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Speaker 1: About five percent of the women on agricultural land that

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Speaker 1: is related to rubber and only twenty five percent of men.

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Speaker 1: So obviously this is from an inclusivity perspective. The government

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Speaker 1: has initiated this just to reduce the gap with regards

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Speaker 1: to this and to make up because women probably make

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Speaker 1: up about fifty percent of the agricultural labor force in

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Speaker 1: one in Courte Devoirs, but they don't own the land.

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Speaker 1: So there's an initiative that has gone into place that

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Speaker 1: is driven by government to not only allow them to

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Speaker 1: participate more actively in the industry, but from an ownership perspective.

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Speaker 1: And some of the subsidies Steven go up to eighty percent,

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Speaker 1: which is quite significant and since two thousand and nine

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Speaker 1: about two thousand, five hundred women in one way or

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Speaker 1: the other have benefited from this. So they talked to diversification.

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Speaker 1: It talks to inclusivity and economic empowerment, which is a

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Speaker 1: step in the right direction Steven. With regards to from

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Speaker 1: an Africa pect event, Rabba, as we know, is still

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Speaker 1: quite a key commodity from a global perspective. Sort of

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Speaker 1: interesting to see how this impacts positively on court Devoir

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Speaker 1: and Tunisia.

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Speaker 2: They've got this big overland trade corridor plan so to

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Speaker 2: connect North Africa with the Sahel.

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Speaker 1: With the Sahel regions even has probably about one hundred

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Speaker 1: and fifty million people, so it's quite a big economic region.

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Speaker 1: The key initiative is caused the res Jia crossing and

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Speaker 1: it to connect from Libya right through to Nijamali, Bukina, Faso,

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Speaker 1: Chad and car And remember when I said conbviously the

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Speaker 1: Central Africa Republic. At the end of the day, from

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Speaker 1: an Africa perspective, it gets to the Mediterranean and then

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Speaker 1: across into Europe. So a positive thing from an infrastructure

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Speaker 1: and a trade perspective to Tunisia, which is also quite

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Speaker 1: involved with regards to drive in. This whole infrastructure project

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Speaker 1: probably is about four hundred Hello, yeah, that was our

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Speaker 1: sponsor Steven Yeah.

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Speaker 2: Well, I mean obviously Keen and you know they're all

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Speaker 2: welcome anyway, Okay, you were talking.

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Speaker 1: Yeah, it's a positive thing and at the end of

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Speaker 1: the day, that's how it contributes fifteen percent of intercontinental

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Speaker 1: trade stevens. So ultimately it's infrastructure that's needed. The key thing,

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Speaker 1: obviously the SAU region is just that whole instability of

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Speaker 1: the of the war and the politics. But after that

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Speaker 1: it's a great opportunity for the continent and for the

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Speaker 1: region from a trade and development perspective.

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Speaker 2: I mean, something quite special has happened at the Arunga

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Speaker 2: National Park. This is in the eastern DRC.

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Speaker 1: There's twenty twenty. It's the first time for them from

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Speaker 1: to queen gorillas both male in the Varunda National Park,

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Speaker 1: which is the DRC. The way I've added on to this, Steven,

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Speaker 1: is that we'll probably see King Kong too coming through helping.

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Speaker 2: Wow wow wow, yes, okay, very good.

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Speaker 1: But I more serious note Stephen, it's quite a big thing.

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Speaker 1: There are probably about a thousand gorillas in Varunga National

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Speaker 1: Park or in that region. Stephen, it's any twenty three

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Speaker 1: infested area, so from a in terms of the civil war,

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Speaker 1: it said a huge impact on the gorillas in the

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Speaker 1: wildlife there. But a nice story is that these two twins,

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Speaker 1: and these twins have been they have been born and

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Speaker 1: apparently statistically it's a one percent chance of it happening.

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Speaker 1: I think the last time this happened was around twenty twenty,

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Speaker 1: and it's just a great story. I think the people

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Speaker 1: in the park they just saw one day this this

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Speaker 1: this mother gorilla working with these twins, which are both male.

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Speaker 1: So it's a significant story, a light story, but always

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Speaker 1: encouraging from DRC that's going through a lot, and obviously,

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Speaker 1: as I said, I hope too, I'm looking forward to

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Speaker 1: the next King Kong two movie that will come out

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Speaker 1: based on this, so that's my end of the story,

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Speaker 1: but otherwise a great story from the DRC with regards

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Speaker 1: to the gorillas.

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Speaker 2: Thanks so much for center and Dingui, the founding director

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Speaker 2: of Tribe Africa Advisory