Mozambique invites India to invest in Africa

New Delhi: Mozambique has invited Indian corporates to make "huge investments" in Africa and, at a larger level, contribute to the diversification and economic resurgence of the continent. The offer was made by prime minister Aires Bonifacio Baptista Ali on Monday.

Baptista Ali was speaking at the inaugural ceremony of the India-Africa Conclave.

"Indian multinational companies, small and medium enterprises and individuals are already investing in Africa, and the results are encouraging. Indeed, we would like to reiterate our warm invitation to all Indian business people to make huge investments in Africa, and join our efforts geared to boost and diversify our economies, thus contributing to African development," Baptista Ali said in his address.

The seventh CII-Exim Bank conclave on 'India Africa Project Partnership', is being attended by several ministerial delegations from Africa.

Also attending was Togo's prime minister Gilbert Houngbo as his country was accorded guest country status.

The Mozambican prime minister noted that the conclave was taking place in a moment characterised by growing instability and upheavals in Middle East and increasing signs of economic and financial instability worldwide due to increase in oil and food prices.