Qatari investment firm Al Mansour Holding has entered into a $20 billion partnership agreement with Mozambique to support key priority sectors, including energy and agriculture, according to a statement from President Daniel Chapo’s office.
The deal marks the latest in a wave of commitments by the Qatari group across Africa, following similar agreements in the Democratic Republic of Congo, Zambia, and Botswana in the past two weeks, Reuters reported.
Africa’s vast land resources, underdeveloped infrastructure, and rich mineral deposits essential to the global renewable energy transition have increasingly attracted investment from Middle Eastern nations and companies eager to expand their influence alongside rivals such as China and the United States.
Don’t Miss This:
$20 Billion LNG Revival And $5 Billion Dam Set To Transform Mozambique’s Economy
Earlier on Wednesday, Al Mansour Holding, led by Sheikh Mansour bin Jabor bin Jassim Al Thani, also announced the acquisition of a 19.9% stake in Australia’s Invictus Energy to help finance a promising gas project in Zimbabwe.
After meeting President Chapo on Tuesday, Sheikh Mansour emphasized the group’s long-term commitment to the continent, saying, “We are not here to compete, we are here to complement. We are not here to take, we are here to build.”
In Zambia, President Hakainde Hichilema revealed on August 18 that Al Mansour Holding had pledged $19 billion in investments for the southern African nation, underscoring the firm’s growing footprint across the region.
Don’t Miss This:
Mozambique Central Bank Slashes Key Rate By 75 Basis Points
Image Credit: Radar Africa
