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The Economic Week: Kidnappers Identified, Manuel Chang Convicted and Max Tonela Exonerated

The Economic Week: Kidnappers Identified, Manuel Chang Convicted and Max Tonela Exonerated

This week, Mozambique has been the scene of a series of remarkable events that have shaped an intense and multifaceted narrative. The week began with yet another kidnapping in Maputo, followed by the revelation that the masterminds of the kidnappings that have plagued the country’s business class have been identified, the conviction of Manuel Chang in the United States and ended with the resignation of Max Tonela as Minister of Economy and Finance, who will be replaced by Adriano Maleiane.

On Monday morning (5), the city of Maputo recorded yet another case of kidnapping, bringing the number of kidnappings in 2024 to 11. A 24-year-old businessman was kidnapped outside his home by four armed individuals, who forcibly put him in his own vehicle. This incident has heightened the sense of insecurity among the business community, especially among entrepreneurs of Asian origin.

According to Mozambique’s Financial Information Office (GIFiM), kidnappings since 2014 have resulted in the movement of more than 2.1 billion meticals (33 million dollars) through money laundering practices.

The Confederation of Economic Associations of Mozambique (CTA) revealed that around 150 businesspeople have been kidnapped in the last 12 years, with more than a hundred of them leaving the country due to fear.

At the same time, the National Criminal Investigation Service (SERNIC) revealed that it had identified the masterminds behind the kidnappings – three Mozambican citizens living in South Africa.

This information was confirmed by the Mozambican President, Filipe Nyusi, during his report on the general state of the nation. Nyusi emphasised the importance of capturing and holding these individuals accountable, announcing that the government has already called in INTERPOL to assist in their capture and extradition to Mozambique.

Hilário Lole, SERNIC’s spokesperson in Maputo city, said that international arrest warrants had been issued and that joint work was being done with the South African forces and INTERPOL to neutralise and bring the suspects to justice on Mozambican territory.

On Thursday night (8), the news of Manuel Chang’s conviction in the United States brought closure to one of the country’s most notorious financial scandals.

The former finance minister was found guilty of conspiracy to commit wire fraud and money laundering in the “hidden debts” case, involving fraudulent loans totalling two billion dollars.

Manuel Chang allegedly received seven million dollars in bribes in exchange for approving government guarantees. The sentence could be up to 12 years in prison, and the former minister has already served five years since his arrest in 2018.

The very next day, Friday (9), the Mozambican President, Filipe Nyusi, removed Max Tonela from his post as Minister of Economy and Finance, replacing him with Adriano Maleiane, who will combine this role with that of Prime Minister. The decision, two months before the general elections, was not accompanied by any official justification.

Adriano Maleiane had already held the Economy and Finance portfolio in Filipe Nyusi’s first government, from 2015-22.

Felisberto Ruco

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