South Africa’s Public Investment Corporation (PIC), which manages the pension funds of the country’s civil servants and is the largest money manager in Africa, has signed an “expression of interest” with its Mozambican government equivalent, IGEPE. PIC, together with SacOil (an independent African oil and gas company listed in both Johannesburg and London) will collaborate with IGEPE in setting up working teams to explore in more detail the various business opportunities to be found in Mozambique.
“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,” said Igepe chairperson Dr. Apolinário Panguene. This latest announcement adds to the large influx of Chinese, Brazilian, Italian, Australian and American investments in Mozambique’s energy and mining sectors. Private South African company investments dominate the country’s retail and tourism sectors.
The growing number of business investors arriving in Mozambique is good news for the tourism industry as well, as not only does it increase the demand for hotel accommodation and leisure related services but more awareness of the country’s staggering beauty and attractions will be generated worldwide. Just another reason that purchasing a holiday home at the San Martinho Beach Club™, with the option of participating in the resort’s rental pool when not personally occupied by you, is a “win win” leisure property investment.