Mozambique 30 Nov: A successful investigation
Good afternoon. Things are starting to come out in the wash. Despite the US Department of Justice redacting the names of the players in LAM’s corrupt dealings with Embraer eight years ago, we now know who took what, as well as how.
SEE: Ex Sasol country head named in Mozambique airline corruption case
Will the various investigations into the ProIndicus, EMATUM, and MAM deals be as successful? The man thought to be at the centre of it all, at least from the Mozambican side, made a surprise appearance at the parliamentary inquiry yesterday - but scepticism is still rife that he will be properly called to account.
SEE: Armando Guebuza, Mozambique’s former President, testifies on debt scandals
Canal de Moçambique today has a report on the proceedings thanks to an anonymous source who was present. Apparently, Guebuza said he was only involved in the deals at a very general level - but that he did authorise his finance minister to grant the guarantees. For most of the session, however, he lectured the parliamentarians on the sacrifices he had made to liberate Mozambique.
The start of the Kroll investigation has clearly been enough for the IMF to start negotiations on a new programme, and their team arrives in Maputo tomorrow for preliminary talks. The Fund has clearly been impressed by what their former employee has done since taking control of the central bank, but nevertheless their assessment of Mozambique’s economic policy environment is surprisingly bullish, to say the least.
SEE: IMF to start talks this week on a new Mozambique programme
A new deputy energy minister has been appointed in time for the three-day Gas Summit which started today in Maputo. Given his CV, however, he may focus more on the electricity side, leaving natural resources to his boss, Leticia Klemens.
SEE: Former head of EDM named Mozambique’s deputy energy minister
And finally, a long-talked about project to revitalise cabotage - that is, domestic shipping up and down the coast - looks close to becoming reality after the government concluded negotiations with Mozambique’s main port operators.
SEE: Mozambique ports drop fees to promote new cabotage plan
Have a great week.