The country is preparing to reap as much as $96bn — more than six times the size of its current GDP — from liquefied natural gas projects that companies including Total are building. The developments, which are the biggest private investments yet in Africa, could make Mozambique the continent’s second-biggest producer of the fuel. The central bank laid out plans for how the fund may function and which institutions it will report to. The proposal anticipates that the $96bn will accumulate over the lifetime of the projects. The fund will build up savings and contribute to fiscal stability when commodity prices fluctuate, according to the document published on the Bank of Mozambique’s website on Monday. Legislators would regulate the fund with the ministry of economy and finance managing it. The central bank will manage the fund’s operations and implement its investment policy.
SOURCE: BUSINESS DAY LIVE
More Stories
Lebo M on 25 Years of The Lion King on Broadway
Mountain House Makes the Most of Its Spectacular Site
A Tribute to Black Artists Could Signal a Change for Museums
7 Young African Women Dominating the Turntables
Meet the Founders of Kitchens of Africa
Seychelles Shines Again at the World Travel Awards
Planning to Honeymoon in the African Bush?
For the Ultimate Trip, these are the Best Hotels in Marrakech
Ghana is also a Great Destination for Keen Walkers
17 Regional Countries have Increased their Travel and Tourism Development Index
What are the Benefits and Costs of Scaling-up the Commercial Production of Bioenergy in Africa?
Faculty of Harvard University and Africa.com Offer Online Course for Entrepreneurs in Food Systems