Mozambique to establish sovereign wealth fund to govern gas revenue
March 27, 2019 | Economy, Government & Regulations, Mozambique
London, UK | – Mozambique’s government plans to establish a sovereign wealth fund to manage income from future gas production, President Filipe Nyusi said. The state will also allocate a fixed portion of revenue to the state budget to fund infrastructure development, poverty reduction and economic diversification, Nyusi said in a speech on Wednesday in the capital, Maputo. Companies including Eni SpA and Anadarko Petroleum Corp. are developing gas discovered nine years ago in deep waters off the coast of Mozambique, one of the world’s …