- EAAIF Completes $325M Debt raise to Accelerate Emerging Market Infrastructure
- AFSIC connections unlocked key funding for the Africa College Foundation to provide education for youth in Africa
- US economic uncertainty to spark boom in UK real estate investing
- East Africa’s Real Estate Market Primed for Those Who Know It Best
- AVCA’S Fifth VC Summit Spotlights: Resilience, Scale and Bankability
Mozambique Drops Appeal for Extradition of Ex-Finance Minister

MAPUTO(Capital Markets in Africa) – Mozambique’s Attorney General withdrew appeals to have the country’s former finance minister sent home from South Africa, where he is in custody over a $2 billion debt scandal.
Both the U.S. and Mozambique want South Africa to extradite Manuel Chang to face charges related to financial crimes. He’s been in custody in Johannesburg for more than a year since his arrest on U.S. charges. Chang, who’s denied wrongdoing, wants to face charges at home, and his government filed a competing extradition request shortly after the U.S. did.
South African Justice Minister Ronald Lamola put Chang’s extradition to Mozambique on hold in July after learning that he would have immunity from prosecution there. A Johannesburg court ruled in November that the decision whether to send Chang home must be made by the justice minister.
“The Attorney General’s office instructed its lawyers to withdraw the two pending requests in South African courts, in order to give the minister of justice the opportunity to re-examine the case, based on new developments,” it said in an emailed statement. The Mozambican government hoped the move would allow Lamola to send Chang home, the attorney general said.
Source: Bloomberg Business News