Palladino focuses on early stage predominantly African resource, property and industrial projects and it currently holds a variety of significant energy, mining and other assets in Africa.
[6] Tokyo Sexwale, founder of Mvelaphanda (Mvela) Holdings, said: "We intend to build on our already strong foothold in African investments in partnership with Och-Ziff.
"[6][7] Mvela Holdings is a privately owned investment company founded in 1998 by Tokyo Sexwale, Mikki Xayiya and Mark Willcox.
[3] It added that the loan had never been publicly revealed to Guineans, or ticked off in the national budget, although President Alpha Condé has said that "contracts that commit Guinea will be published on the Internet."
Former Guinean Minister of Mines, Mahmoud Thiam was quoted in various newspapers as alleging that the deal was a quid pro quo in return for Condé campaign support.
Lawyers emphasised that this repayment could not legally exceed the value of the debt due under the loan agreement and said that it could "in no way result in the appropriation of 30 percent of private or national assets worth billions of dollars".
[13] The Guinean government also refuted the allegations made by The Sunday Times and affirmed that there was no automatic convertibility to a 30 per cent stake in Soguipami in case of default.
[17] The CNT, the country's acting legislative body, convened a special plenary session on 28 June 2012,and called upon the two ministers to explain the agreement.