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Mozambique Agri
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    At least 3 kg of food grown in Mozambique’s fields is lost due to inefficient processing, transportation, and storage-World Bank

    A change to hotter conditions is a looming challenge in the agricultural sector in the Southern African region

    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Natafim SA expands drip-line manufacturing plant

    Natafim SA expands drip-line manufacturing plant

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

  • Africa
    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s new agriculture pledge on the cards

    Africa’s new agriculture pledge on the cards

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    2026 declared World Year of Pastoralism

    2026 declared World Year of Pastoralism

  • Company
    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    World Bank, UN launch programme to help Mozambique improve forestry management

    World Bank, UN launch programme to help Mozambique improve forestry management

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Sporadic rains worry Zambezi farmers

    UN announces US$1.2mln animal health programme for Mozambique

  • International
    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

    First Special Agriculture Industrial Zone launched in Mozambique

    EIMA 2022: Unlocking the growth potential of Africa’s Agribusiness

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    Italian industry Growing Turnover despite the Economic Situation

    Italian industry Growing Turnover despite the Economic Situation

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

  • Markets
    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    Africa’s local ownership drive must balance foreign investment

    President Nyusi reminds investors of the agricultural opportunities available in Mocuba District

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Govt’s initiative to boost cotton and cashew income

    Govt’s initiative to boost cotton and cashew income

    Maize planter calibration to improve your profitability

    Maize planter calibration to improve your profitability

  • Equipment
    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    AWARD targets to improve African smallholders’ livelihoods

    AWARD targets to improve African smallholders’ livelihoods

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

    President Nyusi excited about the prospects the new vegetable oil factory brings

    President Nyusi excited about the prospects the new vegetable oil factory brings

    Russian company to make a humanitarian fertilisers shipment to Africa

    Russian company to make a humanitarian fertilisers shipment to Africa

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  • News
    • All
    • Crops
    • Diary
    • Fresh Produce
    • Game & Wildlife
    • Livestock
    At least 3 kg of food grown in Mozambique’s fields is lost due to inefficient processing, transportation, and storage-World Bank

    A change to hotter conditions is a looming challenge in the agricultural sector in the Southern African region

    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Natafim SA expands drip-line manufacturing plant

    Natafim SA expands drip-line manufacturing plant

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Farming in South Africa; Six Things That Need Urgent Attention in 2023

    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

  • Africa
    AfDB commits $10 billion to fight food insecurity

    AfDB commits $10 billion to fight food insecurity

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s Vast Arable Land Underutilised for Cash and Food Crops

    Africa’s new agriculture pledge on the cards

    Africa’s new agriculture pledge on the cards

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    2026 declared World Year of Pastoralism

    2026 declared World Year of Pastoralism

  • Company
    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Norway pledges to build resilience of small aquaculture farmers in East and Southern Africa

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Tropical Cyclone Ana: WFP ready to provide food and logistics support for rescue and relief operations

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    Mozambique authorities seek to combat biodiversity devastation by clamping on illicit fishing

    World Bank, UN launch programme to help Mozambique improve forestry management

    World Bank, UN launch programme to help Mozambique improve forestry management

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Basis of the Nampula economy calls for a re-orientation of efforts towards the most profitable cash crops, Says Nyusi

    Sporadic rains worry Zambezi farmers

    UN announces US$1.2mln animal health programme for Mozambique

  • International
    Macfrut 2023,Turkey to participate in International Blueberry Days

    Macfrut 2023,Turkey to participate in International Blueberry Days

    First Special Agriculture Industrial Zone launched in Mozambique

    EIMA 2022: Unlocking the growth potential of Africa’s Agribusiness

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    Italian industry Growing Turnover despite the Economic Situation

    Italian industry Growing Turnover despite the Economic Situation

    EIMA International 2022, a Global Event Returns

    EIMA International 2022, a Global Event Returns

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

  • Markets
    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    It is through collective efforts and pursuit of mutual agreements and regional approaches and strategies that SADC can fully address national and intercountry investments on agriculture

    Africa’s local ownership drive must balance foreign investment

    President Nyusi reminds investors of the agricultural opportunities available in Mocuba District

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Russia-Ukraine war poses upsides risks on African agriculture: Economist

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Mozambique Fisheries on high vigilance following outbreak of fish disease in Malawi

    Govt’s initiative to boost cotton and cashew income

    Govt’s initiative to boost cotton and cashew income

    Maize planter calibration to improve your profitability

    Maize planter calibration to improve your profitability

  • Equipment
    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    IMPROVING WATER QUALITY TO ENSURE SUCCESS OF BROILER BUSINESS

    AWARD targets to improve African smallholders’ livelihoods

    AWARD targets to improve African smallholders’ livelihoods

    Agricultural machinery: High demand on the world market

    Agricultural machinery: High demand on the world market

    African women playing a critical role in local economic development

    Lusophone countries benefit from Africa Investment Forum

    President Nyusi excited about the prospects the new vegetable oil factory brings

    President Nyusi excited about the prospects the new vegetable oil factory brings

    Russian company to make a humanitarian fertilisers shipment to Africa

    Russian company to make a humanitarian fertilisers shipment to Africa

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Home Editor picks

Lebanese shipbuilder embroiled in Mozambique Debt Scandal

Lebanese shipbuilder embroiled in Mozambique Debt Scandal

Ian by Ian
March 25, 2021
in Editor picks, Fresh Produce, News
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At the core of a $2 billion debt crisis in Mozambique, a Lebanese shipbuilder admitted he made payments to his now-president and the ruling party in 2014, but said they were legitimate campaign contributions, according to a London court filing, not bribes.

According to the Jan. 15 filing at London’s High Court, Privinvest said payments made to President Filipe Nyusi in the run-up to his election and the Frelimo party were permitted under Mozambican law.

The case relates to a series of tuna fishing, maritime security and shipbuilding projects in which Privinvest was the sole contractor and for which Mozambique borrowed $2 billion between 2013 and 2014, provided or arranged by banks including Credit Suisse. Nyusi was defence minister at the time the projects were agreed upon.

U.S. authorities say hundreds of millions of dollars went missing in what they described as a front for a bribery and kickback scheme. The scandal prompted donors including the International Monetary Fund to cut off support to Mozambique, triggering a currency collapse and debt default in 2016.

Nyusi’s spokesman, Caifadine Manasse, denied that the Mozambican leader had any connection with the scandal and said that any campaign donations were in line with the law.

“President Nyusi has no possible relation to the illegal debt,” Manasse said in response to questions about Privinvest’s court filing.

“We are waiting serenely for the truth to come out, and that will show that neither Frelimo nor President Nyusi is involved in any wrongdoing,” Manasse said.

The filing by Privinvest was part of its response to a lawsuit brought by Mozambique in 2019 against it, Credit Suisse and other defendants, seeking compensation and the recovery of loan funds. Mozambique also sued Privinvest’s billionaire owner Iskandar Safa later that year, accusing him of fraud.

Both Privinvest and Safa have denied wrongdoing, while Credit Suisse issued a counterclaim to the London lawsuit arguing it had the right to seek damages for money it is owed.

The Jan. 15 filing by Privinvest and Safa says Privinvest made campaign donations to Nyusi and the Frelimo party but that “none of this was a quid pro quo for the projects” and that “no claim of bribery” could be made.

“If there was any such conspiracy, President Nyusi…was fully aware of, and/or participated, in it, and indeed was at the heart of the matters now complained of by the Republic,” the filing said.

Credit Suisse declined to comment on the London filing.

U.S. prosecutors brought a separate case in relation to the scandal in 2019, in which three Credit Suisse bankers pleaded guilty to charges including conspiracy to violate anti-bribery laws. Credit Suisse has said that the defendants hid their contacts from the bank. U.S. authorities have also charged a former Mozambican finance minister over his alleged role and are seeking his extradition from South Africa.

The United States was the first to bring charges in the affair, with criminal and civil actions by authorities in Mozambique following soon afterwards.

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