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Manuel Chang, former Mozambican finance minister, was convicted by the US federal court in Brooklyn on August 8, 2023, in the context of the “hidden debt” scandal that rocked Mozambique. This event marks a key step in Mozambique’s fight against corruption.
Zhang was extradited to the United States in July 2023 after being detained in South Africa and accused of using the U.S. financial system to transfer part of the funds of illegal debts of Mozambique’s state-owned companies. A U.S. court found him guilty of fraud and conspiracy to embezzle public funds, and he faces up to 20 years in prison on each charge.
The scandal dates back to 2013, when Mozambique’s public companies secretly signed nearly $2 billion in debt, officially for the development of tuna fishing. However, much of the money had disappeared into a network of corruption, and Manuel Chang personally signed these fraudulent loans. The incident plunged Mozambique into a serious economic crisis and highlighted the country’s challenges with governance and transparency.
As Manuel Chang plans to appeal the conviction, he faces a lengthy prison sentence in the United States. Meanwhile, Mozambique has won important legal victories, notably against shipbuilder Privinvest, which was ordered to pay $825 million for corruption. While challenges remain daunting, these developments could offer a glimmer of hope for the country’s economic recovery.
The former Mozambican minister now finds himself in a delicate situation while he awaits a final decision from the US justice system. His appeal may prolong the legal process, but the severity of the charges leaves little room for a favorable outcome. This conviction reinforces the notion that the international community is increasingly determined to fight corruption on a large scale, even beyond national borders.
The outcome of the trial could have significant implications for Mozambique’s economy and politics. Zhang’s conviction could send a strong signal to African leaders about the importance of transparency and accountability in the management of public affairs.
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