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Igepe, PIC, SacOil to explore investment possibilities in Mozambique

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21 Feb 2014

Igepe, PIC, SacOil to explore investment possibilities in Mozambique

IGEPE, the Mozambican state shares-management agency, has signed an expression of interest with South Africa’s Public Investment Corporation (PIC), together with SacOil, to explore various investment opportunities in Mozambique.

The PIC is the largest fund manager in Africa and is wholly owned by the South African government. SacOil is an independent African oil and gas company, dual listed on the JSE and AIM in London. Igepe is responsible for investing and managing the Mozambican government’s equity shares and participation in major sectors of the economy.

The parties have also agreed to set up working teams to explore such opportunities.

"The signing of this expression of interest is a historical event as this will be the first time that the two counterparts (Igepe and PIC) will be collaborating regarding the huge investment potential in Mozambique, South Africa and the region," Apolinário Panguene, chairman of Igepe, said on Friday.

Source: BusinessDay Live