Africa Business Radio

Mozambique’s President Filipe Nyusi is being sued in London by a firm at the centre of a $2-billion loan scandal that plunged his nation into a financial crisis.Abu Dhabi-based shipbuilder Privinvest, owned by French-Lebanese billionaire Iskandar Safa, signed contracts with Mozambican state companies to supply tuna fishing and maritime security vessels.The government took out secret loans in 2013 and 2014 to finance the deal however much of the money disappeared in kickbacks and bribes, and the country later defaulted on repayments. 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.