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FDI in Mauritius, gas in Mozambique & the Nigerian billionaire joining Trump’s cabinet

Business, economic and financial news from around Africa

Foreign direct investment to Mauritius up more than 44 percent year on year according to the country’s finance minister.

Nigeria hopes to boost its oil production to 2.1 million barrels per day next month, the country’s oil minister Emmanuel Ibe Kachikwu said on Wednesday.

Mozambique’s cabinet has approved changes to liquefied natural gas (LNG) contracts with U.S. oil major Anadarko and Italy’s Eni to allow the two companies to sell the government’s share of gas from projects in the Rovuma Basin.

Nigerian billionaire and investment banker, Adebayo Ogunlesi is expected to join Trump’s cabinet as part of a policy and strategy forum

Corporate News

China’s Beijing Pinchang will invest $100 million into Zimbabwe’s into Kamativi Tin Mine in a joint venture with the Zimbabwe Mining Development Corporation. The mine has been closed for 22 years to date and is considered one of the best tin mines globally.

Nigeria’s Dangote Cement is reportedly seeking supply of natural gas at below market prices from Tanzania. The plant is reported to have halted production last week over technical issues.

South Africa’s MTN Africa’s intentions to list on the Nigerian Stock Exchange may be delayed after allegations that the company illegally moved almost $14 billion out of the country.

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