BIG INVESTMENT SEEN REQUIRED FOR SOUTHERN AFRICA

Africa needs massive financing to develop its oil and gas potential, says Tei Mante, director, Sub-Saharan Africa, International Finance Corp., Washington, D.C. And there will be stiff competition from the former Soviet Union and other regions around the world wing for foreign capital and technology The World Bank recently estimated that $50-100 billion will be needed between now and 2000 for oil and mineral exploration and development in Africa, Mante said.

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