Mtu yoyote anayefuatilia kwa karibu siasa za Tanzania anajua kuwa Mohamed Enterprises ni mafia mkubwa sana hapa nchini. Hivi sasa Mohamed Enterprises wanapambana na Waziri wa Mambo ya Nje, Bernard Membe, kuhusu pesa za deni la Libya. Membe juzi tu ametoa press release kuilaani Mohamed Enterprises kwa kutaka kufanya ufisadi kama wa EPA kwenye deni hilo lakini hakuna hata gazeti moja la Tanzania liliandika habari ya Membe.
Historia ya vita hiyo iliandikwa na The Guardian Januari 2011 lakini habari hiyo imepigwa STOP isitoke tena....
MeTL in wrangle with Libyan agent over debt buying pact
24th January 2011
The controversy involving payments of USD20m owed to the Libyan government has taken a new twist following discovery of a promissory note, offering USD 2m to the country's agent, Massoud Mohamed Nasser, to have Mohamed Enterprises (Tanzania) Limited MeTL) given favour in buying debt agreement involving the money.
MeTL had promised to pay the said USD2m to Nasser also known as Massoud Mohamed Massoud if he was to complete debt buying agreement dated September 15, 2004.
The money held at the Tanzania Investment Bank (TIB) is part of USD121.9m debt owed by Tanzania in respect of crude oil supplied by the government of Libya in 1993.
Such money has been a subject matter in the two cases filed by MeTL in the High Court of Tanzania, namely Civic Case No.110 of 2010 pending before Justice Prof Juma and Civil Case No 127 of 2009 pending before Justice Mwarija.
In the former case, MeTL is suing Libya while in the latter the defendant is Massoud Mohamed Nasser.
Court documents show that Nasser represented the Libyan government in the negotiations in which MeTL was to buy the USD20m debt at eight million dollars and signed the promissory note on September 15, 2004 for two million US dollars for the agent to complete the agreement.
Legal experts, however, question how MeTL could offer two million US dollars to the agent of the government of Libya, the owner of the debt, while it was paying lawful consideration of eight million US dollars to buy the debt.
MeTL, the buyer, signed the debt buying agreement involving the money in question with the Libyan government, the seller, on September 15, 2004 with a view to invest the sum in the agriculture sector in Tanzania.
The government of Libya had allegedly appointed Nasser as its agent to sign the agreement.
Nasser arrived in Tanzania in 2004 and approached the company to use its good offices to facilitate negotiations with Tanzania for the liquidation of the debt.
Following the negotiations, the two governments reached a debt swap agreement for payment of USD40m by immediately issuing treasury bonds.
Five bonds for a five year term worth USD20m and another five bonds for a two year term worth USD 20m.
The said agreements were in the power and possession of the government of Libya.
The two-year bonds were subject to a stipulation made by the government of Tanzania that the proceeds of the bonds would be utilized for investment in Tanzania.
The interest on these bonds was encashable through the TIB account number 004-200-0002216-01 while the five bonds were encashable through the National Bank of Commerce Corporate Branch account number 011103026411.
Documents reveal further that MeTL was interested to acquire one of the bonds for investments in the agriculture sector. The company and Nasser negotiated the sale of the bonds and it accepted to offer eight million US dollars for sale of the US dollars 20m and signed promissory note for US dollars two million for Nasser to complete the buying agreement.
However, the Libyan government failed to fulfil the terms of the buying agreement. It was at such point when MeTL decided to institute a suit against the Libyan government, demanding among others 10m USD for breach of contract and 2.5m USD being loss of profit from the investment of the 10m USD in its agriculture industry.
MeTL also filed another suit against Nasser with similar prayers, holding him personally liable for the loss as he breached the warranty and undertaking as he did not have the authority of the Libyan government to enter the buying agreement nor did he have the authority, competence and ability to have the agreement fulfilled and completed.
Nasser later on came to Dar es Salaam and called on the MeTL , offering to settle the matter by giving a share from the interest being paid into his account at NBC which was accruing at 4,551,440,000/-, which bond had been given to him for his commission by the government of Libya.
However, the company declined the offer of settlement on grounds that it was entitled to a higher amount and on different grounds, other than those proposed by Nasser since he was in breach of the original agreement as he failed to make sure that the company was given money for investment in its agriculture sector.
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