Browsing: Politics & Economy

Politics
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Frelimo tempers Nyusi reshuffle, but agriculture stays top of second term agenda

Filipe Nyusi has appointed his cabinet to kick off his second term in office — with the appointments suggesting the President continues to not have things all his own way in Frelimo despite leading the party to a landslide election victory. Adriano [...]

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Agriculture
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Nyusi declares agriculture ‘national emergency’ in second term commitments

Filipe Nyusi has declared combating poverty through investing in agriculture a “national emergency” and pledged to devote 10% of the state budget to the sector, in a speech following his swearing in for a second term as President of Mozambique on Wednesday. Agriculture and industrialisation [...]

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Economy
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Maleiane promised to honour all ‘hidden debts’ if court would rule them legal — report

Mozambique would have converted the $535 million MAM loan into sovereign debt if any Mozambican court had deemed the government guarantee for the MAM loan legal, finance minister Adriano Maleiane told the Russian lender, VTB, in a meeting in early 2018, according [...]

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Politics
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Afric ran Mozambique election poll, but denies interference in elections

A Russian-backed organisation that observed Mozambique’s recent elections and has been suspended from Facebook for alleged “foreign interference” was behind a controversial pre-election opinion poll whose publication may have broken Mozambican law. Afric, a self-styled African affairs think [...]

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Economy
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Mozambique completes bond restructure as corruption allegations worsen

The restructure of Mozambique’s sovereign bond concluded today — just days after allegations emerged that Mozambique’s ruling party, Frelimo, received $10 million from Privinvest, the company which received the ‘hidden debts’ proceeds that Mozambique is now struggling to repay. Tomorrow, [...]

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Economy
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Hiding debts from IMF made Maleiane vulnerable to creditors, Pearse tells court

Finance minister’s decision to hide debts from the IMF weakened the country’s position vis-a-vis EMATUM bondholders, disgraced banker says Mozambique finance minister Adriano Maleiane’s failure to disclose the ProIndicus and MAM loans to the IMF in 2015 was seen as a weakness that [...]

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