MOZAMBIQUE : A very enterprising family

In addition to the family firm Focus 21 and President Armando Guebuza’s stakes in various companies (including Intelec), the Head of State’s four children have become active entrepreneurs in just a few years. The eldest daughter, Norah Armando Guebuza chairs the board of MBT Construçoes Lda, while her sister Valentina da Luz Guebuza is a shareholder in Beira Grain terminal SA and Moçambique Desenvolvimento & Investimentos Lda (MIDL). Valentina is also in partnership with her brother Mussumbuluko Armando Guebuza in Crosswind Holdings SA (construction of infrastructure) together with her cousin Jose Eduardo Dai and with Rachana Global Ltd, a concern owned by the Indian national Manoj Kumar Vasudev Sompura. Valentina and Mussumbuluko are shareholders in the firm Orbitelecom with José Eduardo Dai and Carlos Nicolau Salvador Junior. Mussumbuluko for his part is the executive director of Intelec Holdings, the company in which his father owns a stake. The President’s other son, Armando Ndambi Guebuza created the property company JDS Investimentos SA in February 2009 in partnership with Salimo Amad Abdula, a friend of his father’s who is the chairman of both Intelec Holdings and of the Confederação das Associações Económicas (CTA). The third shareholder in JDS Investimentos is Jamu Hassane, a former shareholder in the very controversial Banco Austral. To these must be added the firms in which one of the President’s brothers, Miguel Nhaca Guebuza, holds stakes, namely Englob-Consultores Lda, Mozambique Power Industries, Companhia Açucareira de Moçambique SA, Lumininoc Lda (together with his other brother Zacarias Nhaca). Finally, Daude Guebuza, the Head of State’s nephew, is present in Kudu-Consultoria e serviços Lda, while the President’s sister-in-law, Maria da Luz Dai Guebuza is a shareholder in Macequeque Lda. A full house so to speak!

In Indian ocean Newsletter, citado em www.manueldearaujo.blogspot.com