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AFRICANGLOBE - For gas producers, there may be a silver lining, with lower prices creating an opportunity to use natural gas for power generation and other projects. The future of Southern Africa’s gas market, for example, could lie along a 2,600km pipeline linking the gas fields of Mozambique to South Africa.
AFRICANGLOBE - Mozambique’s economy is being boosted by the biggest natural gas find in the world in the last decade. Mozambique is expected to add dollar millionaires at the fastest rate in Africa over the next decade followed by Ivory Coast and Zambia as a mix of construction, financial services and property developments boost the ranks of the rich in Africa.
AFRICANGLOBE - Mozambique decriminalised homosexuality on Monday when a new penal code came into force that swept away old laws, in a victory for campaigners for homosexuality in Africa Africa. The old code, dating back to 1886, penalized anyone “who habitually engages in vices against nature”
AFRICANGLOBE - Mozambique and Angola this year mark four decades of independence from Portugal, with robust economic growth rates buoyed by abundant natural resources giving the southern African nations reason to celebrate.
AFRICANGLOBE- Samora Machel took office as Mozambique’s founding president in 1975, after years of heading the country’s guerrilla movement, Frelimo, in the struggle for independence from Portugal, and he proceeded to lead the country through a tempestuous decade. He was a firm believer in armed struggle not as a means to an end, but as a means to the beginning.
AFRICANGLOBE - India's biggest oil explorer, Oil and Natural Gas Corporation (ONGC), has agreed a deal to buy a 10% stake in an offshore gas field in Mozambique. It will pay Anadarko Petroleum, a US firm, $2.6bn (£1.7bn) for the stake.
AFRICANGLOBE - While Mozambique’s economy has experienced rapid growth over the past years, much of this new wealth has not trickled down to the broader population. Mozambique’s nascent coal mining and natural gas sectors are attracting significant foreign investment. Rich coal deposits in the western Tete Province have lured mining companies such as.
Oil, gas, minerals…it is the story of many emerging African economies. Foreign investors flock to these countries with new ideas, new technologies, and more money. Presidents and prime ministers announce new discoveries and rightfully hype the potential of the country. But how do you keep the momentum going in the long run? Start a sovereign wealth fund (SWF).
AFRICANGLOBE - The Italian energy company ENI has agreed to pay 400 million US dollars in capital gains tax to the Mozambican authorities. The tax agreement was announced on Tuesday when the ENI Chief Executive Officer, Paulo Scaroni, met Mozambican President Armando Guebuza in Changara district in the western province of Tete.
AFRICANGLOBE - Statoil and Tullow Oil are finishing a well aimed at achieving the first commercial oil discovery in Mozambique, the East African country where explorers have made the century’s largest natural gas discoveries.
AFRICANGLOBE - It certainly is boom time for the Mozambican economy. The country is performing strongly in a gloomy global context, and GDP growth rates are predicted to be high (above seven percent) for the coming years.
ARICANGLOBE - Apartment blocks, hotels and modern offices characterise the changing waterfront and city center of Maputo. Slowly displacing the Portuguese colonial style buildings are new condominiums and two to three bedroom apartments that rent for at least $2000 to $3000.
AFRICANGLOBE - An energy boom is underway in Mozambique. If the recent discoveries of natural gas are confirmed, Mozambique will rank fourth in the world for natural-gas reserves behind Russia, Iran, and Qatar.
AFRICANGLOBE - The Mozambican government must draw a deep breath before releasing the regulatory framework for exploiting its gas deposits, as it stands on the threshold of significant wealth.The recent bonanza of gas discoveries in Mozambique has the attention of the international oil and gas industry, but most of the country's acreage is still unexplored.
AFRICANGLOBE - There is now a clear opportunity to use Mozambique's massive gas and coal wealth to fund a yawning infrastructure gap. This in turn will help bring development to the furthest reaches of the country. The government has created a new development bank and is taking a tougher line with multinational companies in order to reach its goals.
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