November 24, 2017

Looting of DRC’s mineral revenue continues unabated

A Carter Center report has confirmed that hundreds of millions of dollars from  the Democratic Republic of Congo’s mineral exports are still being misappropriated annually, even after the ouster of corrupt  dictator, Mobutu Sese Seko, twenty years ago.

State-owned Gecamines, cannot account for about $750m missing revenue generated from its copper and cobalt mines between 2011 and 2014 , the Carter Center said on Friday.

Sese Seko and his cronies used Gecamines to siphon billions of mineral revenue for personal use for three decades.

The US foundation, which is the brainchild of former USA President, Jimmy Carter, has faulted Gecamines for negligence in failing to track who benefits from the missing funds.

In a country blessed with billions worth of natural resources, the average citizen of DRC survives on less than a dollar a day .

The Carter Center admitted that revenue from mining companies proves difficult to  be accounted for.

“The revenue is not directed to the public treasury. It is largely beyond the realm of public oversight,” said the organisation.

 

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.