Monday, July 24
$750m Of Congo Mining Revenue Goes Missing!
More than 20% of the Democratic Republic of Congo’s mining revenue has been lost due to corruption and mismanagement, a campaign group says.
According to a Global Witness report, the money is being distributed through corrupt networks linked to President Joseph Kabila.
At least $750m has gone missing over the past three years, it says.
The government has not commented but has previously denied allegations of corruption in its mining
sector.
DR Congo is Africa’s biggest producer of copper and the world’s largest supplier of cobalt used in batteries for electric cars. It is also rich in gold, diamonds, and coltan, used in mobile phones, but its people remain among the poorest in the world following years of conflict and mismanagement.
“Congo’s mining revenues should be helping to lift its people out of poverty,” says Pete Jones, a Global Witness senior campaigner.
According to the report, much of DR Congo’s mining revenue goes missing after being paid to the state-owned mining company, Gécamines.
The head of Gécamines, a close ally of President Kabila, has denied allegations of corruption and insisted the company is transparent.
Other alleged culprits identified by the report are the country’s tax agencies which are legally allowed to hold back a percentage of the taxes they impose.
This creates avenues for corruption through inflating how much of the fines they can keep for themselves, Global Witness says.
The report says that if the money not reaching the state coffers through corruption, mismanagement and an ineffective tax system was collated, from 2013 to 2015, then the amount rises to $1.3bn.
Popular Tags:
Latest-News
Subscribe to:
Post Comments
(
Atom
)
Trending News
-
A ‘suya’ meat seller in Enugu State was weekend nabbed while reportedly stealing meat from a butcher’s shed at the popular Ogbete main mar...
-
Father Chibuike Okpala Fears has been spread in the streets of kubwa village in Abuja, as a priest was found half dead in the early morn...
-
The school children were caught dancing provocatively while twerking Many people have reacted angrily after school chidren were caught o...
-
On Wednesday , dozens of people took over the streets of Venezuelan capital in Caracas calling for the government of President Nicholas ...
-
A very gigantic snake that was suspected to have eaten a calf, has been killed by some locals. The locals were amazed to find out that t...
-
24 year-old Anastasia Deeva appointed as Deputy Minister on European integration of Internal Affairs of Ukraine A newly appointed 24-...
-
This woman who was reportedly intoxicated with drugs and alcohol, have been captured on camera in the streets of New York, twerking n*ked ...
-
Blac Chyna posted her bathroom selfie flaunting her figure on her instagram page and just an hour later, her baby daddy's ne...
-
Did you know that if you’re using tobacco, you may develop this kind of cancer? This cancer may also trigger when your family has a histor...
-
West African countries' leaders are in Niamey, Niger Republic, for talks on the proposed single currency for the Economic Community of...
No comments :
Post a Comment