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The discovery and development of hydrocarbons has the power to transform the welfare and lives of people in the developing world. One of the challenges that faces developing countries when they discover hydrocarbons is how to avoid the ‘resources curse’ whereby the country’s elite benefit from the profits while leaving the majority in dire poverty.
The Aziza Project has a goal to support the ethical development of hydrocarbon resources in Southern Africa and in the process, to deliver excellent returns to investors.
How will this be achieved? One answer is for the local communities to own a significant shareholding in the businesses that are operating on the communities’ land. This greatly increases local support for development, hence making the venture much more secure, to the benefit of all shareholders. The Aziza Project will promote this model of development in Southern Africa and target investments in companies that adopt this model of ownership.
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