East Africa: Funds flow to oil, gas explorer

Warburg Pincus is leading an investment of up to $600 million (R6 billion) in Delonex Energy, a newly formed oil and gas exploration and production company that is planning to tap into the central and east African hydrocarbon boom. The region has become hot property for energy investors after gas discoveries in Mozambique and Tanzania, and other hydrocarbon finds in Uganda and Kenya. – Reuters