Browsing: Credit Suisse

Economy A ProIndicus maritime defence vessel in the port of Pemba, northern Mozambique. Photo © Zitamar News
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Mozambique’s Ministry of Finance confirmed this week that the $535 million loan to Mozambique Asset Management (MAM) was arranged by VTB Capital and Palomar Capital Advisors, a subsidiary of the Privinvest Group which won the $2 billion worth of contracts [...]

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Economy EMATUM's fishing boats rusting in Maputo harbour. Photo © Timothy Haccius / Zitamar News
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International audit firm Kroll has signed the contract allowing it to start work auditing the three deals that saw Mozambican state-linked companies borrow $2 billion in clandestine deals that have now effectively bankrupted the country.
Business Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker  / Zitamar News
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Private investigations company Kroll has been handed the contract to conduct an audit into the three Mozambican companies that borrowed $2 billion with government guarantees to spend on offshore security and tuna fishing projects - all supplied by [...]

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Politics & Economy IMF Managing Director Christine Lagarde 
Photo © IMF
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IMF Managing Director Christine Lagarde yesterday welcomed Mozambique president Filipe Nyusi's willingness to implement an independent, international audit of the $2 billion in government-guaranteed loans taken out by Mozambican fishing and security firms ProIndicus, EMATUM, and MAM. [...]

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Economy © Zitamar News
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Mozambique’s ministry of economy and finance has hired investment bank Lazard and international law firm White & Case to advise on the country’s foreign debt crisis, having decided not to retain one noted expert previously linked with the job. The Mozambique government provided state [...]

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Politics Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker  / Zitamar News
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Mozambique’s Prosecutor General of the Republic (PGR) said today that three government-guaranteed loans, taken out in secret to pay for coastal security equipment, violated Mozambican law and called for international cooperation to find out how the money [...]

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