Investigation Reveals $315M Missing from Central Bank and Gécamines in DRC
In a shocking turn of events, the Congolese justice system has launched an investigation into the mismanagement of funds at the Central Bank of Congo (BCC) and Gécamines following a damning report from the Inspection générale des finances (IGF). The announcement was made by Minister of Justice, Constant Mutamba, who revealed massive embezzlement of funds amounting to several hundred million dollars.
Missing Funds and Unjustified Withdrawals
According to the IGF report, between 2012 and 2020, a staggering $315 million in tax advances from Gécamines, the state-owned mining giant, has gone missing. Additionally, at the Central Bank, there have been millions of dollars in unexplained cash withdrawals. In 2018, $16 million was withdrawn on verbal orders from the presidency, and another nearly $10 million withdrawal was made by a director. Shockingly, former BCC Governor Déogratias Mutombo revealed during a 2021 hearing that these funds had been deposited at the residence of former president Joseph Kabila.
International Arrest Warrants Issued
Minister Mutamba confirmed that international arrest warrants have been issued for those involved, with requests for cooperation sent to multiple countries to aid in their apprehension. A statement from the ministry specified that arrests would be made as early as next week for those individuals still within the country. This drastic step comes after years of inaction, despite numerous warnings about opaque financial practices and mismanagement of natural resources.
Call for Accountability and Transparency
The mismanagement of funds at Gécamines, a cornerstone of the Congolese mining industry, had previously been criticized in a 2022 IGF report for irregularities in mining partnership contracts, lack of transparency, and financial losses due to asset transfers. Although recommendations for reforms were proposed, they were not implemented, leading to this current legal action.
Anti-corruption activist Jean-Claude Mputu expressed hope for accountability, stating, “After so many years, we hope that justice will be served and that this won’t just be an empty promise.” It remains to be seen how this investigation will unfold and what impact it will have on the financial landscape of the DRC.