Browsing: Privinvest

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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The holders of Mozambique’s 2023 sovereign bond want to find out what happened to the money borrowed by ProIndicus and Mozambique Asset Management (MAM) before they agree to any restructure of the sovereign bond, an adviser to the bondholders has told [...]

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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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Economy A ProIndicus maritime defence vessel in the port of Pemba, northern Mozambique. Photo © Zitamar News
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Negotiations are still ongoing between Mozambique Asset Management, the company which borrowed $535 million to finance two shipyards in Mozambique, and its creditors, who are waiting on a delayed payment on the loan, finance minister Adriano Maleiane told [...]

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Economy An Ocean Eagle surveillance trimaran supplied to Mozambique under the EMATUM or ProIndicus deals. Photo: CMN
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  • Credit Suisse said in 2013 that a comprehensive Mozambique coastal security solution could be supplied for $372m
  • Project was to earn $700m in the first five years
  • Mozambique ended up spending $1.12 billion on coastal protection - and is yet [...]

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Business A ProIndicus maritime defence vessel in the port of Pemba, northern Mozambique. Photo © Zitamar News
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Mozambique Asset Management (MAM), the opaque state-owned company that is in arrears on a $535 million government-guaranteed loan, has yet to start generating revenues thanks in part to regulatory issues in Mozambique stopping it beginning operations. [...]

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Economy Mozambique finance minister Adriano Maleiane testifying in parliament, 18 May 2016
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Mozambique’s government will step in to make a $134 million repayment next week on a loan it guaranteed for Mozambique Asset Management (MAM) if the company has not found a way to make the payment, the finance ministry has confirmed to

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Economy Finance Minister Adriano Maleiane addressing journalists in Maputo, 28 April 2016. © Tom Bowker / Zitamar News
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The three Mozambican state-owned companies that borrowed $2 billion through Credit Suisse and VTB Capital all paid their supplier up front, Mozambique’s finance minister confirmed today. He also said that the fishing boats supplied to EMATUM by the French [...]

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