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Annual profile: Mozambique

Africa Economic Research

January 2003

Contact Jan Duvenage - E-mail: jvduvenage@sbic.co.za

Copyright: Standard Bank Group (www.ed.standardbank.co.za)


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Background

Almost five centuries as a Portuguese colony came to a close with independence in 1975. Large-scale emigration by whites, economic dependence on South Africa, a severe drought and a prolonged civil war have hindered the country's development. The ruling party formally abandoned Marxism in 1989, and a new constitution the following year provided for multiparty elections and a free market economy. A UN-negotiated peace agreement with rebel forces ended the fighting in 1992.



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