Mozambique's vast natural resource endowment is not a standalone guarantee for economic development, according to the World Bank.
Filipe Sissoko, the World Bank's Country Manager for Mozambique, delivered the warning on Wednesday in Maputo during the International Conference on Inclusive and Sustainable Development.
He emphasized that mineral revenues must be complemented by broader structural reforms to translate resource wealth into widespread prosperity.
He emphasized that mineral revenues must be complemented by broader structural reforms to translate resource wealth into widespread prosperity.
The intervention highlights the persistent structural challenges facing the Southern African nation.
Sissoko noted that approximately 90 percent of Mozambique's workforce remains in the informal sector, a statistic he described as the defining development challenge for the coming decade.
Closing this gap is critical for creating formal employment and expanding the tax base, rather than relying solely on extractive industries.