Mozambique 10 August: In memory of an investigative central bank
Good afternoon. Tomorrow marks the 15th anniversary of the assassination of Antonio Siba-Siba Macuacua, an economist at the Bank of Mozambique who was thrown to his death while investigating the looting of privatised Banco Austral. As Marcelo Mosse points out today, the forensic audit Siba-Siba started was never solved - and nor was his murder.
In May, journalist Joseph Hanlon pointed to the case of Siba-Siba as a precedent for how the EMATUM, ProIndicus, and MAM loans will probably never lead to prosecutions either. Even Siba-Siba’s former employer, the Bank of Mozambique, now obfuscates where once it investigated. Having denied knowledge of the deals in April, central bank governor Ernesto Gove has refused to say any more on the matter.
SEE: Bank of Mozambique ignorance of secret loans “very worrying” – Renamo
Mozambique opposition media has jumped on the ANC’s defeat in certain South African municipalities last week as evidence that former liberation movements can’t count on staying in power forever – at least where democracy prevails. Another neighbour, Zambia, goes to the polls tomorrow, but if power changes hands there it won’t be for the first time.
Zimbabwe, of course, is a different matter, where the regime’s increasingly desperate attempts to reverse economic catastrophe are being felt in Mozambique. Draconian measures introduced last month banning the import of a wide range of goods is putting cross-border traders out of business, and forcing others to operate outside the law.
FREE TO READ: Zimbabwe import ban causes discontent in border towns
Mozambique’s regime newspaper Noticias says today that the country’s constitution will be revised in time for the next elections in 2019 to allow for more devolution of power to Mozambique’s provinces. Exactly what form that takes is the topic of negotiations between Renamo and the government, which resumed this week in Maputo. Mediators sound optimistic but at the same time are trying to manage expectations of a process that – if it is to succeed – will take months.
SEE: Mozambique peace talks restart after 12-day break
Meanwhile, the government is taking steps to address its other power crisis. This week the council of ministers took a long-awaited step to create an independent regulator in the hope it will encourage more private investment through streamlining the approvals process.
SEE: Mozambique creates energy regulator to encourage private investment
The government also knows that Mozambique needs to satisfy more of its needs via domestic production. Today, we report on a planned project in Mozambique to produce one vital ingredient for any country’s industrialisation.
SEE: Mozambique $1bn steel project aims to become ‘nucleus’ of new industrial zone
Have a great week.