Maputo: The Mozambican government and Qatari investment group Al Mansour Holding signed a strategic agreement worth 20 billion US dollars, to be invested in the country’s development.
According to Ethiopian News Agency, the deal extends a rapid Africa push by Al Mansour, which has unveiled agreements in the Democratic Republic of Congo, Zambia, and Botswana over the past two weeks. Earlier Wednesday, the firm, led by Sheikh Mansour bin Jabor bin Jassim Al Thani, announced it acquired a 19.9 percent stake in Australia’s Invictus Energy to support a gas venture in Zimbabwe.
Sheikh Mansour, after meeting President Daniel Chapo on Tuesday, emphasized the group’s intention in Africa. ‘We are not here to compete; we are here to complement. We are not here to take, we are here to build,’ he stated, highlighting that the group is committed to a long-term presence in Africa.
Zambian President Hakainde Hichilema announced on August 18 that Al Mansour had pledged 19 billion USD of investment in Zambia, marking another significant commitment by the group in the region.