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Nyusi $2bn debt scandal: He was served in Mozambique with Privinvest’s litigation claims” – Abu Dhabi-based shipbuilder reveals

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President Nyusi of Mozambique has been sued by an Abu-Dabi based shipbuilder, Iskandar Safa over claims of a $2-billion loan scandal that plunged his nation into a financial crisis.

Reports say Nyusi signed contracts with the foreign company to supply Tuna fishing and maritime security vessels, a deal he financed by taking out a secret loan equivalent to 12 per cent of the gross domestic product of his country in 2013 and 2014.

Claims has it that much of the funds allocated to the deal disappeared in bribes and the country has since defaulted to repayment.

Reliable sources close to the president said the deals were made before Nyusi was elected and Privinvest has denied bribery to win the contracts, arguing its payments were political donations that were legal in Mozambique at the time.

“Privinvest confirms that on 19 October 2021, President Nyusi was served in Mozambique with Privinvest’s litigation claims in the High Court in London against him,” the company said in a statement sent to AFP on Thursday.

The papers were served in Maputo at Nyusi’s office and the presidential palace.

The company said its claims against Nyusi “relate to payments made for his benefit, including to fund his 2014 presidential election campaign, and given that he was at the heart of the creation and the subsequent sabotaging of the projects in Mozambique”.

The debt scandal has sparked legal cases across three continents and exposed corruption on a global scale.

 

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