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Home News Mozambique President Filipe Nyusi claims immunity in $2 billion ‘tuna bond’ case

Mozambique President Filipe Nyusi claims immunity in $2 billion ‘tuna bond’ case

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Mozambique President Filipe Nyusi claims immunity in $2 billion ‘tuna bond’ case

Screenshot 2023 08 01 155441.pngMozambique’s President Filipe Nyusi

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However, the London complaints have run into problems ahead of a trial that is planned for October because Mozambique has repeatedly failed to turn over crucial papers, endangering the litigation.

Nyusi is being drawn into the dispute by Privinvest and Safa, who claim that if they are found accountable to Mozambique, Nyusi should contribute to whatever damages they may be required to pay.

Their complaint against Nyusi focuses on payments totaling $11 million that they allege Privinvest made in 2014 to support Nyusi’s election campaign and that of his ruling Frelimo party.

Privinvest and Safa have stated that Nyusi should be liable to them if the payments were illegal and they are responsible to Mozambique.

Nyusi, however, has said he is entitled to immunity as a sitting head of state. He was not in court on Tuesday but his lawyer, Rodney Dixon, argued that there was “no difference as a matter of law” between someone trying to sue Nyusi in London or The United Kingdom’s King Charles in Australia.

Nyusi’s bid for immunity is the latest twist in the long-running dispute, centred on three deals between state-owned companies and Privinvest, ostensibly to develop Mozambique’s fishing industry and for maritime security.

The deals were funded in part by loans and bonds from Credit Suisse since taken over by UBS and backed by undisclosed Mozambican government guarantees.

But hundreds of millions of dollars went missing and, when the state loan guarantees became public in 2016, donors such as the International Monetary Fund halted support, triggering a currency collapse, debt crisis, and years of litigation.

Mozambique President Filipe Nyusi claims immunity in $2 billion ‘tuna bond’ case

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