The spotlight on a scandal in the heart of Africa is turning towards Britain
The Democratic Republic of the Congo (DRC) holds the paradoxical status of possessing a rich mineral wealth at the same time as being one of the world’s least developed countries.
Glencore PLC is under investigation by Canadian regulators looking into more than $100 million in payments a subsidiary made to a company owned by an Israeli businessman who has been accused of bribing Democratic Republic of the Congo officials, said people familiar with the investigation.
More than US$ 750 million in mining revenues disappeared from the coffers of the Democratic Republic of the Congo over a three-year period, according to a report released Friday.
The huge story about bribery by a New York hedge fund in Africa should have been on the front page, but the New York Times buried it in the financial section.
Congo President Joseph Kabila and his family own stakes in more than 80 companies at home and abroad that are likely worth tens of millions of dollars, a report by a U.S.-based body said on Thursday.
Democratic Republic of Congo will not hold its annual independence day military parade on Friday because of security concerns, an adviser to President Joseph Kabila said.
For the past 17 years, President Joseph Kabila has ruled the Democratic Republic of Congo with a rod of iron and copper and cobalt: the main exports of the mineral-rich but acutely poor state.
Congolese President Joseph Kabila on Saturday said he had never “promised anything” about whether to hold elections in the Democratic Republic of Congo, seeming to back away from a deal to hold a vote this year.
The Democratic Republic of Congo told local units of Glencore, China Molybdenum, Ivanhoe Mines and four other mining companies to relocate their head offices as newly demarcated provinces fight over tax revenue and control of mineral projects.