Jump to navigation

Vol 58 No 14

Published 7th July 2017


Mozambique

Rock and Kroll

A summary of the much anticipated audit of the secret US$2 billion loans is out. It reveals they were all buck and no bang

The audit by Kroll Associates of the loans to three supposed maritime projects talks about what the US$2 billion loans were not spent on but not where the money really went. The secrets remain behind a wall of silence erected by the security and intelligence service, the Serviço de Informação e Segurança do Estado (SISE), and its supporters in party and state. The findings of the six-month investigation, released in a 57-page summary on 24 June, sparked outrage in Maputo as civil society and the media demanded that heads roll. The ball is now in the court of Attorney General Beatriz Buchili, who is supposed to decide who shall be prosecuted. Among the revelations were astonishing fees paid to banks to administer, arrange, structure and restructure the loans.

End of preview - This article contains approximately 1736 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you have a print subscription already, click here for a password that gives you full access to the website.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.