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International Business Times
International Business Times
Business

In Whirlwind Tour, Qatari Royal Commits $70bn To Southern Africa

Zimbabwe's government said the Qatari investment amounted to $19 billion, including $500 million for a hydro-electricity project (Credit: AFP)

Qatari investment firm Al Mansour Holding has pledged $70 billion in investments across four southern Africa countries in a 10-day tour, a move analysts call strategic as US funding retreats from the continent.

Group leader and royal family member Sheikh Mansour bin Jabor bin Jassim Al Thani has met the leaders of Botswana, Mozambique, Zambia and Zimbabwe to sign commitments of major financing for projects spanning energy, agriculture, tourism and mining.

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