where did the portugues first establish sugar plantations in africa
Portuguese Mozambique
In 1959 -- 60 , Mozambique 's major exports included cotton , cashew nuts , 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 Compagnie de Charbons de Mozambique was held by the 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 Banco Nacional Ultramarino , Portuguese , Barclays Bank , D.C.O. , British , and the Banco Totta e Standard de Moçambique ( a partnership between Standard Bank of South Africa and mainland 's Banco Totta & Açores ) . Nine out of the twenty - three insurance companies were Portuguese. 80 % of life assurance was in the hands of foreign companies which testifies to the openness of the economy . Cahora
In 1959 -- 60 , Mozambique 's major exports included cotton , cashew nuts , 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 Compagnie de Charbons de Mozambique was held by the 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 Banco Nacional Ultramarino , Portuguese , Barclays Bank , D.C.O. , British , and the Banco Totta e Standard de Moçambique ( a partnership between Standard Bank of South Africa and mainland 's Banco Totta & Açores ) . Nine out of the twenty - three insurance companies were Portuguese. 80 % of life assurance was in the hands of foreign companies which testifies to the openness of the economy . Cahora