Stanley Ho’s Geocapital acquires stake in Mozacorp to invest in Zambezi valley

9 February 2006

Maputo, Mozambique, 09 Feb – Geocapital, the company owned by Macau gaming magnate Stanley Ho, plans to take a stake in Mozacorp, a new company created to invest in the Zambezi river valley, the central and northern regions of Mozambique, the Planning Office for the Zambezi Valley (GPZ) said Wednesday.

Sérgio Vieira, director of GPZ, told Portuguese news agency Lusa that Geocapital will be part of Mozacorp, a company which will invest directly in sectors such as mining, real estate, cotton production and the cattle industry.

As well as Geocapital, Mozacorp will be owned by Mozambique’s Sogir and Mozacapital, which was set up in September 2005 and is also part-owned by Geocapital.

The contract to officially set up Mozacorp is due to be signed on February 17.

The Zambezi valley region is the richest region in Mozambique in terms of agricultural and cattle resources as well as energy sources as it includes the Cahora Bassa Hydroelectric dam as well as the most important coal mines in the country. (macauhub)