Manuel Chang

Mozambique's former finance minister Manuel Chang remains in jail in South Africa awaiting a decision on a US extradition request...

On 29 December former Finance Minister Manuel Chang who illegally authorised more than $2bn of sovereign guarantees for the loans from Credit Suisse and Russia's VTB bank between 2013 and 2014 was arrested at Johannesburg airport after the United States issued an international arrest warrant...

Guebuza's Finance Minister Manuel Chang is being readied for sacrifice should it be judged necessary insiders say...

He may be maintaining a delicate balancing act but it has not been helped by the leak to local media of two documents that he signed while Defence Minister apparently approving the Proindicus project and instructing the then Finance Minister Manuel Chang to proceed with funding the project in January 2014...

Part of the argument rests on the contention that the sovereign guarantees given by former Finance Minister Manuel Chang for the three original loans were illegal which could make them null and void (AC Vol 57 No 23)...

Former Finance Minister Manuel Chang and the Chief Executive Officer of the three companies that received the loans António Carlos do Rosário effectively admitted that they knowingly broke laws and that the creation of a state tuna fishing fleet was as reported by Africa Confidential a mere cover-up for a huge military programme...

Guarantees given by the previous Finance Minister Manuel Chang were illegal under Mozambican law and kept secret even from senior Ministers...

She however was heavily involved in the hidden loans saga while Secretary to the Treasury under the then Finance Minister Manuel Chang...

Yet his very public distress is diverting attention from his predecessor Manuel Chang who signed all the state guarantees for the dubious loans to even more dubious companies (AC Vol 56 No 14 The fishing deal got fishier)...

Ultimately Maleiane like his predecessor Manuel Chang had little choice but to protect the party...