Credit Suisse reached a last-minute settlement with Mozambique on Sunday in a US$1.5-billion (€1.42 billion) bribery and fraud case, its owner UBS was quoted as saying by Bloomberg news agency, a day before a London trial was due to start.
One of Brazil's most wanted criminals has been arrested in Mozambique after spending more than two decades on the run, officials say. Gilberto Aparecido dos Santos, known as Fuminho, is accused of running drug trafficking operations for one of Brazil's most powerful gangs.
Russian bank VTB is suing a Mozambique state-owned company over US$ 535 million it extended as part a series of loans now at the centre of a US$ 2 billion debt scandal. An online court filing dated Dec. 23 shows VTB has lodged a lawsuit in Britain’s High court against the Mozambique state and Mozambique Asset Management, which borrowed the money from VTB as part of a costly project that U.S. authorities say was an elaborate front for a bribery and kickback scheme.
Cyclone Idai has triggered a massive disaster in southern Africa affecting hundreds of thousands if not millions of people, the UN says. The region has been hit by widespread flooding and devastation affecting Mozambique, Zimbabwe and Malawi.
Three former Credit Suisse bankers have been arrested over their alleged role in a US$ 2bn fraud scheme connected to firms in Mozambique, according to US authorities. The men have been released on bail in London while the US seeks their extradition.
The government of Mozambique is expected to officially declare the country free of landmines shortly after the British mine clearance charity The HALO Trust confirmed it had destroyed the last mine on its last known minefield.
A business mission of 53 companies organised by the Brazilian government plans to begin a tour of Mozambique, Angola and South Africa on 21 November, an Apex-Brasil official said in Sao Paulo.
Brazil reaffirmed its influence in Africa with the visit by President Dilma Rousseff on Thursday of the oil rich ‘brother’ nation Angola. Rousseff had previously visited South Africa and Mozambique.
The Mozambique government is providing large tracts of land at a symbolic price to Brazilian farmers to produce soy, maize and cotton, Mozambique’s agriculture minister, José Pacheco told Brazilian newspaper Folha de Sao Paulo.
The world’s largest iron-ore producer, Brazil’s Vale will double investments in Mozambique to 4 billion US dollars in the next four years, said on Monday Chief Executive Officer Roger Agnelli.