In 2013, ProIndicus and EMATUM – two companies newly created by the Mozambican state – were unable to receive US$1.4 billion commercial loans from Credit Suisse. They represented a high risk of failing to pay refunds.
In that year, Privinvest – the company that would carry out the ProIndicus and EMATUM projects, also did not meet the reputational conditions to receive 1.4 billion dollars. Furthermore, the money should be disbursed in phases, depending on the positive assessment of the implementation of projects on the ground. But Credit Suisse transferred the entire amount of the loans to Privinvest, before the start of execution of the projects.
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