Tanzania, Exxon, and Mozambique: divestment from Dar in favor of Maputo
- June 8, 2018
- - 4:15 pm
Summary: Exxon’s divestment from Tanzania in favor of Mozambique will affirm a positive outlook on Mozambique Eurobonds and sovereign credit rating. Tanzania will correspondingly face a negative outlook, however this economic cost won’t lead the Tanzanian government to amend its hostile and nationalist investment framework. Analysis ExxonMobil recently conveyed it intends to sell its natural gas stake in Tanzania in favor of concentrating its focus in neighboring Mozambique. The development sends a wake-up call to the Tanzanian government of President John Magufuli that work needs to be done to restore confidence in Tanzania’s investment climate. Magufuli’s government is not likely …
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