Africa Monitor

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Mozambique: Trail of “Hidden Debts” Commissions at Risk

Mozambique: Trail of “Hidden Debts” Commissions at Risk

The proposal by the Attorney General's Office (PGR) to liquidate the 3 companies responsible for the “hidden debts” - Proindicus, Ematum and MAM - totaling USD 2.2 billion with the guarantee of the state contracted under the former PR ARMANDO GUEBUZA without parliamentary approval and approval by the Administrative Court - was based exclusively on the analysis of the companies' accounts reports. The arguments presented at the Maputo Court are technical: the liquidity of the companies is less than half the value of the share capital, thus constituting a reason for the respective liquidation of the companies, which have been suspended for more than 3 years. READ MORE