Mozambique published its proposed model for a sovereign wealth fund as it prepares to reap as much as $96 billion -- more than six times the size of its current gross domestic product -- from liquefied natural gas projects that companies including Total SE are building.
The developments, which are the biggest private investments yet in Africa, could make Mozambique the continent’s second-biggest producer of the fuel. The central bank laid out plans for how the fund may function and which institutions it will report to. The proposal anticipates that the $96 billion will accumulate over the lifetime of the projects.
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