Government ministers in Mozambique are relieved as the International Monetary Fund (IMF) releases the third instalment of funding under its loan programme. The IMF had delayed the funding, awaiting the government's compliance with budget details, an audit of covid-19 response funds, and the establishment of a sovereign wealth fund. The IMF also urges the government to reduce spending, repay debts faster, and control borrowing to manage the budget deficit, which is expected to widen to 10.4% of GDP this year.

Cahora Bassa is planning a 4GW renewables portfolio, including a 400MW solar plant, to help meet Mozambique's goal of generating 62% of its energy from renewable sources by 2030.

The article discusses the aftermath of the recent Mozambican elections, highlighting widespread allegations of fraud by the ruling party Frelimo. Despite initial indications of a significant victory for the opposition party Renamo, official results showed Frelimo retaining control, leading to public outrage and large protests. The death of protest rapper Azagaia has galvanized disaffected youth, and there are calls to reconsider the democratic process in Mozambique. The article also touches on a legal complaint against TotalEnergies related to an insurgent attack and the resumption of its LNG project.

Preliminary results from the local elections suggest that the ruling party Frelimo won 64 out of 65 municipalities, raising concerns of election fraud. This situation presents a significant challenge for Renamo, the largest opposition party, which appears divided on its response strategy. Venâncio Mondlane, Renamo's candidate for mayor of Maputo, has threatened rebellion if his victory claim is not recognized and has called for a strike.

Mozambique has the potential to host the entire supply chain for electric vehicles (EVs) due to its rich graphite deposits, but faces significant obstacles. Experts express skepticism about the country's ability to become a competitive EV manufacturing center, citing the need for more investment in human capital and the improbability of creating an unsubsidized car manufacturing sector. The UNCTAD report highlights Mozambique's capital growth and graphite reserves but notes challenges in logistics, technology, and skilled labor. The geopolitics of EV production and competition between China, Europe, and the West further complicate Mozambique's entry into the market. Syrah, a company mining graphite in Mozambique, plans to refine and process it in the US due to logistical advantages. The failed example of Matchedje Motors, which ceased car production due to various constraints, illustrates the difficulties faced by the industry in Mozambique.

The article discusses the recent local elections in Mozambique, suggesting that the ruling party Frelimo has fraudulently claimed victory in nearly all municipalities except Beira. It highlights the disparity between official results and those reported by opposition parties, particularly Renamo, which claims to have won in several key cities. The piece criticizes Frelimo's control over government machinery and resources, implying that the election was neither free nor fair.

The UK government's decision to cancel the northern leg of the HS2 high-speed rail project has sparked significant concern among institutional real estate and infrastructure investors. The move is seen as undermining trust in the UK's commitment to long-term infrastructure projects, with potential negative impacts on real estate investments in the North of England and the broader infrastructure market. Key stakeholders, including the British Property Federation and the National Infrastructure Commission, have expressed disappointment and concern over the decision's implications for economic growth and investor confidence. The article highlights the need for a review of infrastructure financing models and greater collaboration between the UK government and global investors.

TotalEnergies plans to restart work on the Mozambique LNG project this year, with no firm date set yet. Talks with contractors are ongoing, and the security situation is deemed satisfactory. In other news, Mozambique's major political parties, Frelimo, Renamo, and MDM, have launched their municipal election campaigns in Beira, highlighting the city's political significance.

Chesapeake Utilities is acquiring Florida City Gas from NextEra Energy for $923 million, including $145 million of intercompany debt. The acquisition will significantly expand Chesapeake's natural gas business in Florida, serving approximately 120,000 customers across eight counties. The deal is expected to be financed through a combination of long-term debt and equity. Executives from both companies expressed optimism about the growth and strategic benefits of the transaction.

Key events in Mozambique for 2024 include Frelimo's leadership selection, the cyclone season, the potential restart of TotalEnergies' gas project, the possible withdrawal of regional forces, and the general election. Frelimo's dominance and electoral fraud are highlighted, with Celso Correia as the frontrunner for leadership. The cyclone season poses significant risks, and TotalEnergies faces multiple challenges in restarting its LNG project. The general election is expected to be contentious, with Frelimo likely to retain power despite opposition efforts.