Mozambique's gas boom dream under threat

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

PALMA - The small, palm-fringed fishing town of Palma was meant to become a symbol of Mozambique's glittering future, transformed by one of the world's largest liquefied natural gas projects.

But construction has fallen far behind schedule and the town's fate is uncertain after gas prices fell and the government became engulfed in a $2bn-debt scandal.

Tucked between the turquoise waters of the Indian Ocean and thick tropical forests, Palma remains a sleepy village of 3 000 people, still waiting for the promised arrival of new jobs and infrastructure.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
USD/ZAR
14.05
-0.1%
GBP/ZAR
19.76
+0.3%
EUR/ZAR
17.09
-0.1%
AUD/ZAR
11.04
-0.1%
JPY/ZAR
0.13
-0.2%
Gold
1,837.56
+0.3%
Silver
27.81
+1.3%
Palladium
2,939.78
+0.4%
Platinum
1,261.36
+0.4%
Brent Crude
68.28
+0.3%
Top 40
62,573
0.0%
All Share
68,520
0.0%
Resource 10
71,474
0.0%
Industrial 25
86,856
0.0%
Financial 15
12,711
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1388 votes
No, I did not.
52% - 3470 votes
My landlord refused
27% - 1841 votes
Vote