adminTwo former Goldman Sachs employees have set up a banking operation in Mozambique, betting that the country’s potential resource wealth will propel some of the fastest economic growth on the continent, reports Business Report. Rafael Sarandeses and Goncalo Neves-Correia have founded ThirdWay Africa Partners, an investment and advisory business that they are running out of offices in London, Madrid, and Maputo.
The pair intend to invest in Mozambique companies that can take advantage of laws on local content, and which could later become potential targets for buyout firms. The world’s biggest natural gas discovery in a decade off Mozambique’s northern coast could relieve widespread poverty in a country where 90% of people exist on less than $2 a day.
ThirdWay Africa plans to invest in Mozambican companies providing services to foreign investors in the gas industry, which by law have to source goods and services locally. – Business Report.
Online Reporter