Tanzania Plans to Set up Sovereign Wealth Fund For Major Gas Discoveries

Reuters reported that Tanzania, which has gas reserves of 28.9 trillion cubic feet, plans to set up a sovereign wealth fund for major gas discoveries in the southern parts of the country.

As quoted in the market news:

Tanzania, which is east Africa’s second-biggest economy could see an increase in revenue of up to $3 billion a year from gas exports, according to the World Bank.

Click here to read the full Reuters report.