Despite potentially explosive details contained in an audit report on the $500-million (R6.5-billion) missing from Mozambique's $2-billion loan - which was extended to three state-owned companies - Africa's largest natural gas producer is still seen as a foreign investors' paradise. The prospect of foreign investors pulling the plug on Maputo is unlikely, although an audit report by Kroll has raised the red flag over $500-million that cannot be accounted for, $713-million diverted through the overpricing of goods and $200-million paid in commissions to international banks. Now it appears that the debt crisis is at risk of being overshadowed by the promise of lucrative returns, which Mozambique has the potential to deliver to foreign investors. No action on the audit report has been taken by authorities. Mozambique President Filipe Nyusi boasted in June to foreign investors at a US roadshow that "Mozambique is back and foreign investment is safe". In the past four years the country h...
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