Browsing: GIPS

Kroll Report Bank of Mozambique governor Ernesto Gove refused to take questions on the hidden debts at a press conference on 21 July 2016. Photo © Timothy Haccius / Zitamar News
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Mozambique’s public prosecutor has named at least 17 people - including former finance minister Manuel Chang, and former central bank governor Ernesto Gove - who it says should face financial penalties for their part in the $2.2 billion debts borrowed on [...]

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Politics President Filipe Nyusi. Photo © Timothy Haccius / Zitamar News
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Mozambican President Filipe Nyusi was a key figure in establishing the three companies that borrowed $2 billion with illegal government guarantees, leaked transcripts from a parliamentary inquiry have revealed. The loans to these companies - ProIndicus, EMATUM and MAM - have contributed to [...]

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Economy Finance minister Adriano Maleiane, Prime Minister Carlos Agostinho do Rosario, and fisheries minister Agostinho Mondlane gave a press conference in Maputo on 28 April. Photo: Zitamar News
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Mozambique will make at least $1.5 billion in repayments by 2022 on the state-guaranteed loans to EMATUM, ProIndicus, and Mozambique Asset Management (MAM), even before the $731 million bullet repayment on EMATUM comes due the following year. [...]

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