* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

    Traveling Tacos and Tequila Festival to stop at Florence Yall’s stadium this October – Cincinnati Enquirer

    Get Ready for a Flavor Fiesta: Traveling Tacos and Tequila Festival Hits Florence Y’all’s Stadium This October!

    9 things to do this weekend in Lake County plus a look ahead – Leesburg Daily Commercial

    Discover 9 Exciting Weekend Adventures in Lake County and What’s Coming Up!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Apple Watch and the future of wearable technology in healthcare – MSN

    Revolutionizing Healthcare: The Future of Wearable Technology with Apple Watch

    ECS Professor Pankaj K. Jha Receives NSF Grant to Develop Quantum Technology – Syracuse University News

    Unlocking the Future: ECS Professor Pankaj K. Jha Secures NSF Grant for Groundbreaking Quantum Technology Development

    Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

    Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

    U.S. FDA Grants Platform Technology Designation to the Viral Vector Used in SRP-9003, Sarepta’s Investigational Gene Therapy for the Treatment of Limb Girdle Muscular Dystrophy Type 2E/R4 – Sarepta Therapeutics

    Breakthrough for Gene Therapy: FDA Designates Viral Vector in Sarepta’s SRP-9003 for Limb Girdle Muscular Dystrophy Treatment

    Waunakee Fifth-Graders Dive into the Future at Exciting Tech Day!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

    Traveling Tacos and Tequila Festival to stop at Florence Yall’s stadium this October – Cincinnati Enquirer

    Get Ready for a Flavor Fiesta: Traveling Tacos and Tequila Festival Hits Florence Y’all’s Stadium This October!

    9 things to do this weekend in Lake County plus a look ahead – Leesburg Daily Commercial

    Discover 9 Exciting Weekend Adventures in Lake County and What’s Coming Up!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Apple Watch and the future of wearable technology in healthcare – MSN

    Revolutionizing Healthcare: The Future of Wearable Technology with Apple Watch

    ECS Professor Pankaj K. Jha Receives NSF Grant to Develop Quantum Technology – Syracuse University News

    Unlocking the Future: ECS Professor Pankaj K. Jha Secures NSF Grant for Groundbreaking Quantum Technology Development

    Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

    Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

    U.S. FDA Grants Platform Technology Designation to the Viral Vector Used in SRP-9003, Sarepta’s Investigational Gene Therapy for the Treatment of Limb Girdle Muscular Dystrophy Type 2E/R4 – Sarepta Therapeutics

    Breakthrough for Gene Therapy: FDA Designates Viral Vector in Sarepta’s SRP-9003 for Limb Girdle Muscular Dystrophy Treatment

    Waunakee Fifth-Graders Dive into the Future at Exciting Tech Day!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Mozambique passes landmark legislation for $91.7bn sovereign wealth fund

March 13, 2024
in Business
Mozambique passes landmark legislation for $91.7bn sovereign wealth fund
Share on FacebookShare on Twitter

In a pivotal move, Mozambique’s council of ministers has greenlit legislation establishing a sovereign wealth fund, managing vast earnings from anticipated natural gas exports worth $91.7 billion. This strategic step, integral to an IMF-backed economic plan, signals a commitment to transparency and governance reform. The fund will initially receive 40% of gas revenues, ensuring fiscal stability, with oversight by an independent committee to uphold accountability. Mozambique is poised to harness its resource wealth responsibly, paving the way for sustainable growth.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

By Matthew Hill

Mozambique’s council of ministers approved a decree for the nation’s new sovereign wealth fund legislation, governing how one of the world’s poorest nations spends earnings from an estimated $91.7 billion in natural-gas exports in the coming decades.

Introducing the law was a key part of an economic program with the International Monetary Fund. It’s an important step in improving governance in the southeast African nation that got cut off from most international financing in 2016, when the government admitted it had borrowed more than $1 billion that it didn’t disclose to the IMF as required. 

That led to a debt default and spawned court cases from New York to London. 

“The regulation represents a significant advance in the search for transparency, accountability and good governance in the natural resources sector,” Mozambique’s finance ministry said in a statement Tuesday. “Mozambique is laying the foundations for management based on best international practices.”

The law sees 40% of state revenues from liquefied natural-gas exports going to the fund for the first 15 years, with the rest allocated to the national budget. After that, the money will be split evenly between savings and annual spending. 

The decree requires a supervision committee, an independent body including civil society representatives that will be responsible for controlling and monitoring all of the fund’s operations related to revenues, deposits, resource allocation and management. 

Its obligation to report directly to the parliament and publish its findings quarterly will ensure transparency and accountability, the finance ministry said.

Mozambique joined the elite club of LNG exporters in 2022, when a 3.4 million ton per year offshore platform sold its first shipment. Still, the nation’s much bigger onshore export projects, which companies including TotalEnergies SE and ExxonMobil Corp. plan, have suffered years-long delays as Islamic State-linked militants carried out a violent campaign in the surrounding province of Cabo Delgado.

Read also:

Mission impossible: SANDF stretched in DRC, ignoring porous borders, Mozambique risk – DA MP Kobus Marais
Mozambique unveils ambitious $80 billion plan to lead an African hydropower, green energy revolution
Total’s multi-billion dollar African gas dream revived after Mozambique’s Palma emerges from Jihadist conflict

© 2024 Bloomberg L.P.

Visited 1 times, 1 visit(s) today

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : BizNews – https://www.biznews.com/africa/2024/03/13/mozambique-91-7bn-sovereign-wealth-fund

Tags: businessMozambiquepasses
Previous Post

Private operators set to revolutionise Africa’s largest freight rail market

Next Post

TikTok Announces New Integration for Apple’s SKAdNetwork Campaign Tracking Process

designing for ‘abundance,’ with ecological landscaper kelly norris – A Way To Garden

Embracing Abundance: Insights from Ecological Landscaper Kelly Norris

June 8, 2025
How to take photos on your phone via remote control – Popular Science

How to take photos on your phone via remote control – Popular Science

June 8, 2025
Opinion | RFK Jr.’s Deadly War on Science – Common Dreams

RFK Jr.’s Dangerous Assault on Science: A Call to Action

June 8, 2025
The Worst Bonne Maman Preserves Flavor Leaves A Lot To Be Desired – Yahoo

The Worst Bonne Maman Preserves Flavor Leaves A Lot To Be Desired – Yahoo

June 8, 2025
D.C. Hosts WorldPride Parade in the Shadow of Trump – The New York Times

Celebrating Love and Unity: D.C. Lights Up for WorldPride Parade Amidst Political Tensions

June 8, 2025
This New England state has the best economy in the country, according to WalletHub – Boston.com

Discover the New England State Boasting the Strongest Economy in the Nation!

June 8, 2025
Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

June 8, 2025
Billy Joel jokes about aging, cremation after brain disorder diagnosis – Fox News

Billy Joel Shares Hilarious Takes on Aging and Life After a Health Scare

June 8, 2025
Supreme Court restores DOGE’s access to sensitive Social Security data and says it doesn’t have to turn over documents – CNN

Supreme Court Grants DOGE Access to Sensitive Social Security Data, Protects Confidential Documents!

June 8, 2025
Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

June 8, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (676)
  • Economy (689)
  • Entertainment (21,595)
  • General (15,271)
  • Health (9,731)
  • Lifestyle (693)
  • News (22,149)
  • People (690)
  • Politics (697)
  • Science (15,908)
  • Sports (21,192)
  • Technology (15,675)
  • World (674)

Recent News

designing for ‘abundance,’ with ecological landscaper kelly norris – A Way To Garden

Embracing Abundance: Insights from Ecological Landscaper Kelly Norris

June 8, 2025
How to take photos on your phone via remote control – Popular Science

How to take photos on your phone via remote control – Popular Science

June 8, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version