Editing Portuguese Mozambique (section)

==Economy==
[[File:TT CMZ-AF-GT E 2-1 9 82 - Manga. Fábrica de Tabacos de Caeiro Lda.jpg|thumb|Caeiro Lda. Tobacco Factory.]]
Since the 15th century, Portugal founded settlements, trading posts, forts, and ports on the [[Sub-Saharan Africa]]'s coast. Cities, towns, and villages were founded all over East African territories by the Portuguese, especially since the 19th century, like [[Maputo|Lourenço Marques]], [[Beira, Mozambique|Beira]], [[Vila Pery]], [[Vila Junqueiro]], [[Vila Cabral]] and [[Porto Amélia]]. Others were expanded and developed greatly under Portuguese rule, like [[Quelimane]], [[Nampula]] and [[Sofala]]. By this time, Mozambique had become a Portuguese colony, but the administration was left to the trading companies (like [[Mozambique Company]] and [[Niassa Company]]) who had received long-term leases from [[Lisbon]]. 
[[File:Map of Portuguese East Africa, published and presented by The Lourenço Marques Port and Railways Administration - btv1b53213371k.jpg|thumb|Map of Portuguese East Africa, published and presented by The Lourenço Marques Port and Railways Administration, 1931.]]

By the mid-1920s, the Portuguese succeeded in creating a highly exploitative and coercive settler economy, in which African natives were forced to work on the fertile lands taken over by Portuguese settlers. Indigenous African peasants mainly produced [[cash crop]]s designated for sale in the markets of the colonial [[metropole]] (the centre, i.e. Portugal). Major cash crops included [[cotton]], [[cashews]], [[tea]] and [[rice]]. This arrangement ended in 1932 after the takeover in Portugal by the new [[António de Oliveira Salazar]]'s government — the {{lang|pt|[[Estado Novo (Portugal)|Estado Novo]]}}. Thereafter, Mozambique, along with other Portuguese colonies, was put under the direct control of Lisbon. In 1951, it became an [[overseas province]]. The economy expanded rapidly during the 1950s and 1960s, attracting thousands of Portuguese settlers to the country. It was around this time that the first nationalist guerrilla groups began to form in [[Tanzania]] and other African countries. The strong industrial and agricultural development that did occur throughout the 1950s, 1960s and early 1970s was based on Portuguese development plans, and also included British and South African investment.
[[File:STS51B-51-14- Lake Cahora Bassa.jpg|thumb|[[Cahora Bassa Dam]] reservoir — the dam began construction in 1969 and was at the time one of the biggest in all of Africa.]]
In 1959–60, Mozambique's major exports included [[cotton]], [[cashew nut]]s, [[tea]], [[sugar]], [[copra]] and [[sisal]]. Other major agricultural productions included [[rice]] and [[coconut]]. The expanding economy of the Portuguese overseas province was fuelled by [[foreign direct investment]], and public investment which included ambitious state-managed development plans. British capital owned two of the large sugar concessions (the third was Portuguese), including the famous Sena states. The Matola Oil Refinery, Procon, was controlled by Britain and the United States. In 1948 the petroleum concession was given to the Mozambique Gulf Oil Company. At Maotize, [[coal]] was mined; the industry was chiefly financed by Belgian capital. 60% of the capital of the {{lang|fr|Compagnie de Charbons de Mozambique}} was held by the {{lang|fr|Société Minière et Géologique Belge}}, 30% by the [[Mozambique Company]], and the remaining 10% by the Government of the territory. Three banks were in operation, the {{lang|pt|[[Banco Nacional Ultramarino]]}}, Portuguese, [[Barclays Bank]], D.C.O., British, and the {{lang|pt|Banco Totta e Standard de Moçambique}} (a partnership between [[Standard Bank]] of South Africa and mainland's {{lang|pt|[[Banco Totta & Açores]]}}). Nine out of the twenty-three insurance companies were Portuguese, which included insurance companies related to [[Fidelidade]] throughout its history. 80% of [[life assurance]] was in the hands of foreign companies which testifies to the [[open economy|openness of the economy]].
[[File:Praça Mouzinho de Albuquerque Lourenço Marques 1971 (2318204703).jpg|thumb|Mouzinho de Albuquerque Square (today Independence Square), Lourenço Marques (today Maputo), Portuguese Mozambique, 1971. The City Hall is in the background, and in front of it is the statue of [[Joaquim Augusto Mouzinho de Albuquerque|Mouzinho de Albuquerque]].]]

The Portuguese overseas province of Mozambique was the first territory of Portugal, including the European [[mainland Portugal|mainland]], to distribute [[Coca-Cola]]. Lately the {{lang|pt|Lourenço Marques}} Oil Refinery was established by the {{lang|pt|Sociedade Nacional de Refinação de Petróleo}} (SONAREP) — a Franco-Portuguese syndicate. In the sisal plantations Swiss capital was invested, and in copra concerns, a combination of Portuguese, Swiss and French capital was invested. The large availability of capital from both Portuguese and international origin, allied to the wide range of natural resources and the growing urban population, lead to an impressive growth and development of the economy.

From the late stages of this notable period of high growth and huge development effort started in the 1950s, was the construction of [[Cahora Bassa]] dam by the Portuguese, which started to fill in December 1974 after construction was commenced in 1969. In 1971 construction work of the [[Massingir Dam]] began. At independence, Mozambique's industrial base was well-developed by Sub-Saharan Africa standards, thanks to a boom in investment in the 1960s and early 1970s. Indeed, in 1973, [[value added]] in manufacturing was the sixth highest in Sub-Saharan Africa.
[[File:"Principe Perfeito" - Lourenco Marques, 1967.jpg|thumb|The Portuguese liner ''Príncipe Perfeito'' moored at Lourenço Marques, Portuguese Mozambique on December 25, 1967.]]

Economically, Mozambique was a source of agricultural raw materials and an earner of foreign exchange. It also provided a market for Portuguese manufacturers which were protected from local competition. Transportation facilities had been developed to exploit the transit trade of South Africa, [[Swaziland]], [[Southern Rhodesia]] (which became [[Rhodesia]] in November 1965), [[Malawi]], and [[Zambia]], agricultural production for export purposes had been encouraged, and profitable arrangements for the export of labour had been made with neighbouring countries. Industrial production had been relatively insignificant but did begin to increase in the 1960s. The economic structure generally favoured the taking of some profits to Portugal rather than their total reinvestment in Mozambique because [[counterterrorism]] campaigns were expensive. The Portuguese economic interests in its overseas province, which dominated in banking, industry, and agriculture, exerted a powerful influence on policy and by early 1974 were fostering good levels of economic growth and development.<ref>Do outro lado do tempo: Moçambique antes de 1975 VERSÂO COMPLETA https://www.youtube.com/watch?v=igQEvBShfu0&t=0s</ref><ref>{{Citation |title=Do outro lado do tempo: Moçambique antes de 1975 VERSÂO COMPLETA |url=https://www.youtube.com/watch?v=igQEvBShfu0 |access-date=2023-04-08 |language=en}}</ref>