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Privinvest, is an Abu Dhabi-based shipbuilder owned by French-Lebanese billionaire Iskandar Safa, and has inked contracts to deliver tuna fishing and maritime security vessels to Mozambican state businesses.
To fund the agreement, the government took out covert loans in 2013 and 2014 totaling 12% of one of the world’s poorest countries’ gross domestic product.
Most of the money was lost to kickbacks and bribes, and the country eventually defaulted on its obligations. The transactions were struck before Nyusi was elected, and Privinvest has denied paying bribes to secure the contracts, claiming that the payments were acceptable political contributions in Mozambique at the time.
Privinvest confirms that Privinvest’s lawsuit claims in the High Court of London against President Nyusi were served in Mozambique on 19 October 2021,
The company said in a statement to AFP on Thursday 28th Oct.
The documents were delivered to Nyusi’s office and the presidential palace in Maputo. Nyusi’s now claims against the company
Relate to payments made for his benefit, including to fund his 2014 presidential election campaign, and given that he was at the center of the creation and subsequent sabotage of the projects in Mozambique,
According to the corporation.
The debt issue has prompted judicial proceedings on three continents and exposed worldwide malfeasance.
At the time the loans were accepted, Nyusi was the Minister of Defense.
Nyusi was cleared of any misconduct by Mozambique’s ruling Frelimo party earlier this 2021.