Valentina da Luz Guebuza, the daughter of President Armando Guebuza, has a minority stake (2.5%) in the firm Beira Grain Terminal SA created in January 2007 in order to, as its name suggests, operate the cereal terminal in the port of Beira. The three main shareholders in this new company are Seaboard Moz Ltd (32.5%), a company registered in Bermuda in November 2006, the State company Portos e Caminhos de Ferro de Moçambique (CFM) with 15% and Cornelder Moçambique also with 15%. This last of these companies, which operates the port of Beira, is headed by Carlos Mesquita who has been the Honorary Consul for the Netherlands in the Centre and North of Mozambique since 1998.
It is a joint venture of the Dutch group Cornelder Holdings and CFM, but President Guebuza is also believed to have a stake in the company. The other shareholders in Beira Grain Terminal, each owning 10%, are: Nectar Moçambique (subsidiary of the British Nectar Group), Rainbow International FZCO (Dubai based grain exporter, headed by Saad S. Khan) and the Zimbabwean conglomerate CFI Holdings. In addition to the Mozambican President’s daughter, two other investors each hold 2.5% of the new company: Sonipal Lda and Merec Industries Lda.
The latter belongs to the Rwanda born Canadian-British businessman Mhamud Charania who is an active member of the Ismaelian community in Mozambique. The founding general meeting of Beira Grain Terminal should be chaired by the former governor of the Central Bank of Mozambique, Prakash Ratilal, who is also the chairman of Moza Capital, a company set up by the Macao magnate Stanley Ho.
The Indian Ocean Newsletter - 02.03.2007
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