Through Privinvest, Safa is currently offering different African countries international loans to enable them to restructure their debts and, by the same token, buy ships built in his yards. A first contract has been agreed with Mozambique and negotiations have been started with Angola and Congo-Brazzaville. The development of his business, which has so far been smooth, has run into its first legal difficulties, however, and these are hampering the group's financing activities. Sea "lord" Safa's African activities have been under scrutiny in recent months by the Security and Exchange Commission (SEC). At the same time, he has since December 2016 been involved in arbitration proceedings before the International Chamber of Commerce (ICC) over his activities in Greece.
Indigo Publications' journalists have been following Safa's career for years. They have uncovered the contacts networks, behind-the-scenes wheeler-dealing and the secrets which underpin it. You can read all about them in this special report which Africa Intelligence has produced in collaboration with Intelligence Online. Following on from this report on his African networks, you can also access our in-depth review of Iskandar Safa and his inner circle in our Insiders series here.
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Burdened by debt that has its oil production tied up for the next five years (AEI 778), Congo-B has found an unexpected saviour in Iskandar Safa. The Lebanese industrialist and owner of Constructions mecaniques de Normandie (CMN), has offered to [...]
Three French nationals connected with the company which supplied Ematum's ships are angling for further contracts with Mozambique's navy. [...]
SpotlightUNITED ARAB EMIRATESFRANCELEBANON11/01/2017
Safa's ship-building empire in choppy seas
After a boom period in which the contracts kept coming in, the charismatic Franco-Lebanese businessman Iskandar Safa is today facing pressure on several fronts. The founder of the naval shipyard Abu Dhabi Mar is under attack on its contracts in [...]
Secret loans: same old same old dressed up as new?
Just as Mozambique is trying to fix things up with the IMF, to which it is in default, Mozambique Assets Management (MAM), Ematum and Proindicus, whose mammoth dodgy loans have thrown the country into chaos, continue to operate. MAM’s sleight of [...]
Kroll launches armada against Mozambique loans
Kroll has been appointed by Mozambique’s prosecution service to investigate [...]