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According to Pedro Baltazar, President of the Security Department at the CTA, the withdrawal of these business people from the country has had a financial impact running into billions of dollars
The Mozambican Confederation of Business Associations (CTA) has announced that over 100 business people, most of them of Asian origin, have already left the country as a result of insecurity caused by the wave of kidnappings in Mozambican cities.
According to Pedro Baltazar, President of the Security Department at the CTA, the withdrawal of these business people from the country has had a financial impact running into billions of dollars.
The Strategic Analysis Report (RAE), published by the Mozambican Financial Intelligence Office (GIFiM), which is a specialist unit in the Ministry of Economy and Finance, points out that the kidnappings in Mozambican cities have generated, since 2014, over 33 million dollars in money laundering.
The phenomenon of kidnappings, Baltazar said, is leading to the creation of an army of unemployed. “With each kidnapping, each time a businessman leaves Mozambique, workers become unemployed. The labour market is severely affected”, he warned. He said that, in recent times, the business sector has been engaging in advocacy aimed at eliminating kidnappings, through a Public-Private dialogue which includes the government at all levels “to stop the problem.”
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To stop the wave of kidnappings, the government has been talking about the need to boost investment in the Mozambican defence and security forces, as well as setting up a specialist anti-kidnapping brigade within the police force.
