Credit Suisse admits fraud, reaches settlements; Refined sugar exports reach 10,000 tonnes

Welcome to Zitamar’s daily Mozambique briefing for 20 October 2021

Oct 20, 2021

The latest from Zitamar News:

Cabo Ligado Weekly: 11-17 October

Insurgents struggle to secure supplies, using hostages as human shields
Displaced youth enlist to reduce risk of being mistaken as insurgents and killed
SADC soldiers defuse bomb found by returnees

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The Cabo Ligado Monthly for September has also now been published

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Credit Suisse has admitted to defrauding US and international investors in the financing of the Mozambican tuna fishing company Ematum, and will pay more than $547 million in penalties

US Department of Justice statement
SEC statement
Credit Suisse statement
Civil society statements
Ruling by the UK regulator FCA, and its detailed 'Final Notice'
Decision of the Swiss regulator, FINMA
VTB statement

The best of the rest:

SAMIM captures five terrorists in Macomia district (Carta de Moçambique)
Boyfriend confesses to murder of conservationist Lara Muaves (AIM, US Embassy in Mozambique)
US warship visiting Mozambique (DefenceWeb)
Mozambique’s refined sugar exports reach 10,000 tonnes (AIM)

SAMIM captures five terrorists in Macomia district (Carta de Moçambique)
Last Friday, the Southern African Development Community’s Mission in Mozambique (SAMIM) forces captured five terrorists in Panguia, Macomia district, newspaper Carta de Moçambique reported. The operation, which started on Tuesday, led to the seizing of 12 firearms, 10 ammunition, 16 motorbikes and four briefcases. According to the same source, SAMIM soldiers have also begun searching some villages in coastal Macomia, having already seized 15 AKM rifles. SAMIM is carrying out a cleaning operation in the districts of Macomia, Quissanga, Muidumbe and Nangade, says the source. The mission has extended its stay in Mozambique until January next year.

Boyfriend confesses to murder of conservationist Lara Muaves (AIM, US Embassy in Mozambique)
The boyfriend of WWF senior marine conservationist Lara Muaves has confessed to her murder last Friday, said the Mozambican Criminal Investigation Service (Sernic). His name has not been revealed. The police found Lara's car during a search at his house in Marracuene district. According to Sernic, Lara was left unconscious after her boyfriend slipped motor oil into her drink. He then assaulted the victim and stole MZN44,000 ($690) from her belongings. Further details of Lara Muaves murder emerge as a new campaign by the Interfaith Platform for Communication for Health (PIRCOM) is launched aiming to reduce gender-based violence in Mozambique. Called "Give Hope to 1001 Rositas" the campaign intends to raise awareness about violence against women and girls and to pay a tribute to Rosita Muchanga, killed by her former husband in February, in Sofala province. Data from UNAIDS and UNICEF show that, in Mozambique, a third of girls aged 15 have survived physical violence and that 46% of women have suffered some type of violence by an intimate partner.

US warship visiting Mozambique (DefenceWeb)
The American warship called USS Hershel ‘Woody’ Williams is visiting Mozambique in a bid to demonstrate the United States Navy’s commitment to safety and maritime security in the western Indian Ocean. It is the US Navy’s first scheduled port visit since 2011. Captain Chad Graham said, “My crew is very excited for the opportunity to visit Mozambique, experience their culture, and make a positive impact in Maputo during our time here.” US Ambassador to Mozambique Dennis W Hearne said, “Our ability to conduct this level of military co-operation is a testament to the strength of the strategic partnership between our countries.” Prior to arriving in Maputo, the vessel was in Cape Town for routine maintenance.
USS Hershel “Woody” Williams is the first warship permanently assigned to the US Africa Command area of responsibility.

Mozambique’s refined sugar exports reach 10,000 tonnes (AIM)
Mozambique has for the first time reached the milestone of 10,000 tonnes of castor sugar exported to European markets, to countries such as Italy, Spain and the United Kingdom, according to a report in Tuesday’s Noticias. Agriculture minister Celso Correia, said the volume of exports results from the setting up, in November 2018, of a refinery at the Xinavane sugar mill in Maputo province with an installed capacity of 900,000 tonnes.

Announcements

The Spanish Embassy in Maputo announced it will provide €47m in funding for development projects in Mozambique until 2024. Of this amount, €15m will be allocated to projects in Cabo Delgado province (see here)
The National Institute of Statistics (INE) published data on child nutrition and food security as a supplement to its previously released survey on the family budget for 2019-20. The report shows that 38% of children under the age of five suffer from chronic malnutrition, whilst 16.5% suffer from chronic malnutrition in its severe form. These numbers show a "very high" prevalence chronic malnutrition in the country, according to WHO and UNICEF standards (see here)
Mining company South32, which owns the Mozal Aluminium plant 20km outside Maputo, released its Sustainability Briefing, saying it is "actively reshaping our portfolio to increase our exposure to commodities important in a low carbon future" (see here)
The platform for the central banks of the Portuguese-speaking Countries has published a report on the "economic evolution" of the Lusophone countries in Africa 2020-21. The report notes a 1.2% economic contraction in Mozambique in 2020 resulting not only from covid-19 disruptions but also from the "devastating impact" of cyclones in 2019 (see here)

Zitamar News