Browsing: Politics & Economy

Economy Mozambique finance minister Adriano Maleiane testifying in parliament regarding ProIndicus, EMATUM, and MAM, 18 May 2016
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The Mozambique government intends to disregard the sovereign guarantee it signed on the $622 million loan for offshore security company ProIndicus, and let it go bankrupt - but has reached an agreement in principle to restructure a similar loan made to ProIndicus’ sister company MAM, the [...]

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Economy The World Bank headquarters in Washington, DC
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The finance ministers of Mozambique, Zimbabwe, and Malawi will outline their countries’ needs in the wake of Cyclone Idai at a round-table meeting hosted by the World Bank in Washington, DC, later today, attended by the UK government’s minister of [...]

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Kroll Report President Filipe Nyusi (right) at the book launch of 'The Great Corruption' by Hélio Filimone, February 2019
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Filipe Nyusi selected Credit Suisse to finance the offshore security contracts in what became known as Mozambique’s ‘hidden debts’ when he was defence minister in 2013, according to a newspaper report based on a letter supposedly signed by Nyusi, asking [...]

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Economy Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker  / Zitamar News
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Mozambique is calling for a British court to rule the guarantee granted by the Ministry of Finance to the offshore security company ProIndicus illegal, the office of the Prosecutor-General (PGR) said on Friday. The country also wants to be compensated, with interest, for all losses it has [...]

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Kroll Report Former Finance Minster Manuel Chang addressing a Frelimo party meeting on 27 February 2017. Photo © Alexandre Nhampossa / Zitamar News
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A final decision on whether to send former Mozambican finance minister to Mozambique or the United States “will be made once the court process has run its course,” South Africa’s Ministry of Justice said today, after the South African foreign minister said a decision had already been taken to [...]

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Politics Renamo soldiers pose in Gorongosa during the party's Congress in January 2019. Photo © Tom Bowker / Zitamar News
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New steps towards implementing the disarmament, demobilisation, and reintegration (DDR) of Renamo’s men have raised hopes that a definitive peace agreement could be signed by the government and Renamo by April - essential to ensure elections can take place “free from the threat of violence,” [...]

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Kroll Report Graça Machel. Image from www.fdc.org.mz
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Graça Machel, a major political figure in Mozambique and widow of Mozambique’s first president Samora Machel, and of Nelson Mandela, has written to Credit Suisse urging it absolve Mozambique of the responsibility to repay the $2 billion in debt that it helped arrange for companies owned by [...]

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Kroll Report Prime Minister Carlos Agostinho do Rosário and Deputy Finance Minister Maria Isaltina Lucas at a briefing on 1 March 2017. Photo © Alexandre Nhampossa  / Zitamar News
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Mozambican President Filipe Nyusi yesterday dismissed Maria Isaltina Lucas as deputy finance minister, potentially clearing the way for her to face prosecution for her role in the $2.2 billion ‘hidden debts’ scandal. The dismissal is an “appropriate measure” which removes her immunity as a [...]

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Politics Young men farming in Nkondezi, Tete province, in January 2019. Photo © Fungai Caetano / Zitamar News
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Claims that Renamo has been mistreating Mozambicans returning to Tete province from a refugee camp in Malawi have been met with scepticism from the United Nations’ refugee agency, the UNHCR, that manages the camp. In January Mozambique’s National Defence and Security Council (Conselho [...]

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