Unveiling Mozambique’s Enormous Tuna Bonds Scandal: A Shocking $11 Billion Dollar Fishing Tale's Lessons for Financial Governance in Africa

In 2013, Mozambique created three public companies – Ematum, Proindicus, and Mozambique Asset Management (MAM) – which would later become known as the ‘tuna bonds.’ Substantial funds were diverted through corrupt practices involving government officials and businessmen: a whopping ~$11 billion.