Exploring business opportunities in Mozambique is the aim of a document signed in Maputo Thursday by Mozambican state holding company Instituto de Gestão das Participações do Estado (Igepe) and South Africa’s Investment Corporation (PIC), Igepe said in a statement.

PIC is Africa’s largest fund manager with a portfolio of around US$140 billion.

The ceremony to sign the document was attended by SacOil Holdings Limited, a private group listed on the South African and London stock exchanges that has vast oil assets in several African countries.

Igepe’s statement also said that an agreement was reached to create working teams to look into several opportunities discussed at the meeting between the two companies in more detail. (macauhub)