Brazil's state-owned development bank BNDES has called for compensation from the country’s treasury after Mozambique defaulted on loans taken out to fund the construction of Nacala airport. The default is BNDES' [...]
Aeroportos de Moçambique (AdM) has re-hired a former chairman just seven years after he was imprisoned for his part in a scheme that stole $1.7 million from the company. Diodino Cambaza was appointed chairman of the [...]
- BNDES loan financed ‘white elephant’ airport built by Odebrecht
- Arrears to bilateral lender could affect restructure of ‘hidden’ [...]
Mozambique’s former minister of transport and communications, Paulo Zucula, has denied taking bribes from Brazilian companies Embraer and Odebrecht following reports in the Mozambican media alleging involvement in two separate scandals.
Mozambique’s state-owned airports company is in grave financial difficulties and will rely on continued support from the government to stay afloat, its latest published accounts has revealed. The accounts also show [...]