Multinational Companies and Political Risk Management in Terrorist Conflict Environments: The Case of Cabo Delgado, Mozambique (2021–2023)

This article analyzes the management of political risks by multinational companies operating in armed conflict and terrorism environments, focusing on the case of Cabo Delgado province, Mozambique, between 2021 and 2023. The region, marked by chronic instability and attacks by extremist groups linked to the self-proclaimed Islamic State, has become one of the main geopolitical and economic tension points in the African continent. Major corporations in the energy sector, such as TotalEnergies, ExxonMobil, and ENI, have faced substantial challenges related to physical security, international reputation, and business continuity. Through a qualitative approach based on documentary analysis and literature review, the study investigates strategies adopted to mitigate risks, including project suspension, hiring private security, collaboration with international insurers, and cooperation with state and multilateral actors. The conclusion is that, although some targeted measures have provided partial stability, the persistence of violence and local institutional fragility continue to represent significant obstacles to the sustainable presence of foreign investments in the region.