Mozambican
prosecutors have asked the country’s banks to provide details of the accounts
held by former President Armando Guebuza, as part of the investigations into
the security-linked companies Ematum (Mozambique Tuna Company), Proindicus and
MAM (Mozambique Asset Management), according to a report by the Bloomberg news
agency.Bloomberg said it had obtained a copy of the letter sent to the banks by
the Attorney-General’s Office (PGR) which requested information on Guebuza, 17
other named individuals and one institution, for the period January 2012 to
December 2016.PGR spokesperson Georgina Zandamela told Bloomberg that the
request is part of the audit into Ematum, Proindicus and MAM being undertaken
by the London branch of the US company Kroll. She said Mozambique’s sub judice
rules made it impossible for her to say anything further.
Contacted by
the independent newssheet “Mediafax”, Zandamela said “the PGR does not comment
on ongoing cases”. But she added that the document quoted by Bloomberg “did not
come from the PGR. We are not the source for this information”.
The only other
plausible explanation is that somebody in one of the banks leaked the letter to
Bloomberg.According to “Mediafax”, in addition to Guebuza himself, the accounts
which the PGR/Kroll wants to investigate belong to, among others, two of the
former President’s sons, Ndambi and Mussumbuluko, and to people who had worked
in Guebuza’s presidential office, including Renato Matusse, Edson Macuacua
(currently chairperson of the parliamentary constitutional and legal affairs
commission), Neuza Matos and Marlene Magaia. When Bloomberg contacted Guebuza’s
office, asking for comment, it was told that a response would be ready in 21
days. Isalcio Mahanjane, a lawyer who represented Guebuza when he was
questioned last year by a parliamentary commission of inquiry, said he had not
seen the PGR request.
The companies covered by the Kroll audit received over
two billion dollars in loans from European banks (mainly Credit Suisse and the
Russian bank VTB) in 2013 and 2014. These loans were illegally guaranteed by
the Guebuza government, and thus became part of the country’s foreign debt
stock. The guarantees smashed the limits on government guarantees fixed in the
2013 and 2014 budget laws, and also violated the Constitution which stipulates
that only the country’s parliament, the Assembly of the Republic may authorise
such debts.Predictably,
none of the three companies were able to service their debts, and it soon
proved that their viability studies were based on wildly optimistic
assumptions. The Minister of Economy and Finance, Adriano Maleiane, has told
the creditors that the government cannot repay the loans either, and has urged
them to negotiate a debt restructuring.While the Ematum loan (of 850 million US
dollars) was known, because it took the form of a public bond issue, the
Proindicus and MAM loans (of 622 and 535 million dollars respectively) were
kept hidden until April 2016. The International Monetary Fund (IMF), and other
western partners, accused Mozambique of misreporting its debt situation, and
cut off financial assistance.The IMF
insisted that relations can only return to normal after an independent,
international audit of the three companies. Kroll has until 28 April to submit
its audit report. It is hoped that this will reveal what assets and services
were purchased with the loans, whether the assets purchased arrived in
Mozambique, whether they were properly priced, and whether any of the money has
gone missing.
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