An elevated view of houses in a residential area in Maputo, the capital of Mozambique, with tall buildings in the background. Picture: 123RF/GREGORY MAASSEN
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.
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