Mozambique Asset Management, the company which borrowed $535 million in secret with state guarantees to build and repair boats, has now taken possession of the shipyard in Maputo harbour that it needs in order to start becoming an operating company. At least three patrol boats supplied by Lebanese group Privinvest are visible behind a yellow…...

Privinvest boats visible behind the wall of the shipyard taken over by MAM in Maputo. Photo © Zitamar News, May 2017