Mozambique takes Tuna Bond scandal to UK courts

Mozambique has opened a new chapter in its fight to rid itself of $2bn in debt allegedly raised by corrupt activities at state-owned companies. The country is suing Iskander Safa – a French-Lebanese businessman whose company Privinvest is at the heart of the scandal – for fraud in a UK court.

This latest move is just one of Mozambique's many strategies for discharging what it sees as an unlawful and fraudulent batch of bonds. The whole thing has been a remarkable tale, featuring international intrigue aplenty as Mozambique has pursued legal action at home and abroad.

There are lessons in this story for South Africa, which is itself seeking to recoup monies lost to fraud and corruption tied to state capture and the Guptas. Mozambique has struggled to find and punish the perpetrators, and the process is likely to take many years. South Africans should prepare themselves for the same lengthy struggle.