A delegation from the Libya Africa Investment Portfolio (LAIP) arrived in the Mozambique capital Maputo yesterday to recover a seized rice project.
LAIP informed Libya Herald that the visit, led by LAIP Chairman Mustafa Abufanas, marks a significant step in ongoing diplomatic endeavours spearheaded by Libya’s Ambassador to Mozambique Saleh Al-Buaishi in coordination with LAIP.
Their primary objective, LAIP explained, is to negotiate the recovery of LAIP's 20,000-hectare rice cultivation project, which was seized by Mozambican authorities in late 2020.
Attempt to recover assets in Guinea On a similar note, it will be recalled that on 25 November 2024, a high-level Libyan government delegation led by Fathallah Al-Zini the Minister of Youth - who is also Special Envoy of the Tripoli based Libyan Prime Minister for Africa - arrived in Guinea to discusses recovery of portfolio investment assets.
The visit aimed to regain ownership of a major 2,150-hectare farm, the largest mango and pineapple farm in West Africa, as well as a juice factory and seven lakes.
The farm was confiscated in 2020 by a presidential decree issued by the former Guinean president, but the Guinean Supreme Court had recently issued a ruling invalidating that decree.