Mozambique is a former Portuguese colony that gain the independence in 1975; since then, the country suffered a civil war that ended only in 1992. Despite Mozambique was considered one of the poorest country in Africa, from the peace agreement (1992) until 2014 its economy growth reaching an Annual GDP of 9.0; it was the so called “African Rising” moment.
In 2013, part of the Mozambican Government was involved in an investment scheme consisting in the illegal appropriation of the money coming from a secret loans granted by Credit Suisse and Russian state-owned Bank VTB. The loans where apparently been requested by Mozambican state-owned Companies in order to obtain investments for the consolidation of tuna fish industry and maritime security. When the scandal became public, IMF suspended the financial aid to Mozambique, leaving Mozambique with a $2bn debt in a deep financial and economical crisis. After the scandal, several Western companies and international organizations withdrawn their investments from the country, and therefore Mozambican government open the door to Chinese investors, with the mediation of the Chinese Government, in order to give an impulse to the national economy.
The capital of Mozambique, Maputo, massively growth and changed in the last 5 years: the old Portuguese colonial houses and the post-independence old Soviet styles buildings are sharing the urban space with new skyscrapers built by Portuguese and Chinese companies, containing luxury apartments that remain unsold due to the exorbitant selling prices that, at this moment, no body can afford. Furthermore, the State keeps carry on monumental public works, financed by private and foreign investors, very often concentrated in the capital, despite the country severe lack of infrastructures.
While Governamental institutions appears to be unable to find an efective solution to get out of the crises, living between the glory of the past and the failed promise of a better future, a new generation of young Mozambican is developing new companies in the field of IT, with the aim of improving the quality of life in a country that still faces serious challenges. During the last five/seven years, several private business incubators and spinoffs have been created as well as a number of high-tech companies that are already generating a considerable amount of jobs and revenue. However, this wave of new enterprises can not count on any support or fundings from the state. They are the new Mozambican generation, people that studied abroad and instead of make a living somewhere else in the world, decided to come back to their country to follow a dream.