{"id":49192,"date":"2023-10-26T20:36:42","date_gmt":"2023-10-26T20:36:42","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says"},"modified":"2023-10-26T20:53:08","modified_gmt":"2023-10-26T20:53:08","slug":"mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says","title":{"rendered":"Mozambique\u2019s Nyusi to blame over \u2018tuna bond\u2019 scandal, shipbuilder\u2019s owner says"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambican President Filipe Nyusi was ultimately responsible for the failure of the projects at the centre of the \u201ctuna bond\u201d scandal, the owner of Emirati-Lebanese shipbuilder Privinvest told London\u2019s High Court on Wednesday.<\/p>\n

Privinvest and its owner French shipping magnate Iskandar Safa are facing a $3.1-billion lawsuit from the African republic for allegedly paying millions in bribes to Mozambican officials and Credit Suisse bankers.<\/p>\n

Mozambique alleges more than $136 million was paid to secure favourable terms in relation to three projects in 2013 and 2014, including one designed to exploit the republic\u2019s tuna-rich coastal waters.<\/p>\n

Privinvest and Safa deny any wrongdoing and say any payments made were lawful. They say the case is a politically motivated attack to deflect blame from Nyusi and other senior officials, who they argue squandered the potential of the projects.<\/p>\n

\u201cPrivinvest does not pay bribes, full stop,\u201d Safa said as he gave evidence by videolink from Paris.<\/p>\n

In his written witness statement, Safa blamed the failure of the projects on Nyusi, who he said \u201cwanted the projects to fail\u201d to undermine his predecessor Armando Guebuza\u2019s political authority.<\/p>\n

Nyusi was not immediately available for comment.<\/p>\n

\u201cWhen President Nyusi replaced former President Guebuza a power struggle ensued between them,\u201d Safa said.<\/p>\n

\u201cPresident Nyusi made deliberate decisions to undermine the projects and as a result the republic failed to take the necessary steps to monetize the projects as intended.\u201d<\/p>\n

Privinvest has tried to drag Nyusi into the case over payments of $11 million it says it made to fund Nyusi\u2019s successful run for president and his ruling Frelimo party\u2019s election campaign.<\/p>\n

The High Court ruled last month that Nyusi has immunity as a head of state, but an appeal against that ruling is expected to be heard in February. Nyusi has denied any wrongdoing.<\/p>\n

The trial began in earnest last week after a delay caused by Mozambique\u2019s 11th-hour settlement with Credit Suisse\u2019s new owner, UBS.<\/p>\n

Mozambique has switched its focus to Privinvest and is seeking to recoup losses of $700 million and potential liabilities of $2.4 billion.<\/p>\n

Its case centres on deals struck by state-owned companies with Privinvest for loans and bonds from banks including Credit Suisse, backed by undisclosed state guarantees.<\/p>\n

But hundreds of millions of dollars went missing and when the government debt came to light in 2016, donors such as the International Monetary Fund temporarily halted support, triggering a currency collapse, defaults and financial turmoil.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Mozambican President Filipe Nyusi was ultimately responsible for the failure of the projects at the centre of the \u201ctuna bond\u201d scandal, the owner of Emirati-Lebanese shipbuilder Privinvest told London\u2019s High Court on Wednesday. Privinvest and its owner French shipping magnate Iskandar Safa are facing a $3.1-billion lawsuit from the African republic for […]<\/p>\n","protected":false},"author":84,"featured_media":49190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[233,281,283],"class_list":["post-49192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMozambique\u2019s Nyusi to blame over \u2018tuna bond\u2019 scandal, shipbuilder\u2019s owner says - Mozambique<\/title>\n<meta name=\"description\" content=\"Mozambican President Filipe Nyusi was ultimately responsible for the failure of the projects at the centre of the \u201ctuna ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique\u2019s Nyusi to blame over \u2018tuna bond\u2019 scandal, shipbuilder\u2019s owner says\" \/>\n<meta property=\"og:description\" content=\"Mozambican President Filipe Nyusi was ultimately responsible for the failure of the projects at the centre of the \u201ctuna ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T20:36:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-26T20:53:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/10\/sm_1698340909.082519.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1443\" \/>\n\t<meta property=\"og:image:height\" content=\"1033\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique\u2019s Nyusi to blame over \u2018tuna bond\u2019 scandal, shipbuilder\u2019s owner says\",\"datePublished\":\"2023-10-26T20:36:42+00:00\",\"dateModified\":\"2023-10-26T20:53:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says\"},\"wordCount\":425,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/10\/sm_1698340909.082519.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"community\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambiques-nyusi-to-blame-over-tuna-bond-scandal-shipbuilders-owner-says\",\"name\":\"Mozambique\u2019s Nyusi to blame over \u2018tuna bond\u2019 scandal, shipbuilder\u2019s owner says - 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