Browsing: Privinvest

Daily Briefing
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Welcome to Zitamar’s daily Mozambique briefing for 30 October, 2019


Economy
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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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Daily Briefing
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Welcome to Zitamar’s daily Mozambique briefing for 16 October, 2019


Hidden Debts dossier
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Privinvest, the contractor which supplied Mozambique’s controversial ‘hidden debts’ security companies, continues to do business in the country through a logistics subsidiary which provides services to offshore oil and gas operations, despite ongoing legal action [...]

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Hidden Debts dossier
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Former finance minister Manuel Chang will be returned to Mozambique rather than extradited to the United States, the South African justice minister said yesterday, in a ruling which has no reasonable chance of being overturned, according to a South African [...]

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Economy
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The Mozambique government intends to disregard the sovereign guarantee it signed on the $622 million loan for offshore security company ProIndicus, and let it go bankrupt - but has reached an agreement in principle to restructure a similar loan made to ProIndicus’ sister company MAM, the [...]

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