Browsing: Privinvest

Economy
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Maleiane promised to honour all ‘hidden debts’ if court would rule them legal — report

Mozambique would have converted the $535 million MAM loan into sovereign debt if any Mozambican court had deemed the government guarantee for the MAM loan legal, finance minister Adriano Maleiane told the Russian lender, VTB, in a meeting in early 2018, according [...]

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Hidden Debts dossier
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Boustani trial provides ‘roadmap’ for future claims despite jury’s acquittal

The acquittal of Privinvest’s Jean Boustani of three counts of conspiracy to commit wire fraud, securities fraud, and money laundering has disappointed many who want to see repercussions for those who arranged Mozambique’s ‘hidden debts’ — but it is not the end of legal claims and [...]

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Hidden Debts dossier
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Maputo Port denies ‘hidden debts’ payment claim

The Maputo Port Development Company has said it has full confidence in its chief executive, Osorio Lucas, who was last week accused of taking money from Lebanese shipbuilder Privinvest as part of the ‘hidden debts’ deals done by that company in Mozambique. The [...]

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Daily Briefing
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Zitamar Daily Briefing, 30 October

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


Economy
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Mozambique completes bond restructure as corruption allegations worsen

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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Zitamar Daily Briefing, 16 September

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


Hidden Debts dossier
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Privinvest continues offshore logistics operation in Mozambique despite litigation

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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