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DRC
Behind the mysterious million-dollar fees for revising 'contract of the century'

A copper and cobalt mine run by Sicomines in Kolwezi, DRC, in May 2015. © Aaron Ross/Reuters

The committee that oversaw discussions to ‘rebalance' the Sicomines contract has asked the Chinese-Congolese joint venture to pay around $28m to its members. [...]

Published on 11/10/2024 at 05:40 GMT Reading time 3 minutes

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Infrastructure, Mining, Politics

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DRC
Agence de pilotage, de coordination et de suivi des conventions de collaborations
Agence nationale de renseignement
André Lolo Wameso
Antoinette N'Samba Kalambayi
Centre de recherche en finances publiques et développement local
Felix Tshisekedi
Freddy Yodi Shembo
Gecamines
Guylain Nyembo
Inspection Generale des Finances
Jules Alingete Key
Nicolas Kazadi
Nicole Bwatshia Ntumba
Placide Nkala Basadilua
Rose Mutombo Kiese
Sicomines

DRC
Gécamines worried by lacklustre performance of STL germanium plant

Production has fallen well short of targets.

Subscribers only Mining 08.11.2024

DRC
Government on mission to improve state company governance

Portfolio minister Jean-Lucien Bussa Tongba is cracking down on the tensions between the chief executives and board chairs of state companies, which are affecting their results. On his list is a clarification of their responsibilities and a first assessment of their compliance in November.

Subscribers only Mining, Politics 18.10.2024

DRC portfolio minister, Jean-Lucien Bussa Tongba, during the third Turkey-Africa Economic and Business Forum in Istanbul on 21 October 2021.

Spotlight | DRC
Ailing Gécamines ordered to open its books

Judith Suminwa Tuluka's government is putting pressure on the state-owned mining company, whose profits have decreased. Its management is being closely scrutinised by the portfolio minister, who recently warned of 'serious misconduct' on the part of its financial director.

Free access Mining, Politics 09.10.2024

The Gécamines head-quarter in Lubumbashi, DRC, on 16 January 2021.

Spotlight | DRC
The story behind the attempt to unsettle Inspectorate General of Finances boss Jules Alingete

At odds with key figures from Félix Tshisekedi's first term, the head of the IGF has for several weeks been the target of a smear campaign designed to substantiate allegations of his having acted in league with the interests of the Rawji Group.

Subscribers only Finance, Politics 31.07.2024

DRC
The drilling contracts scandal that's causing embarrassment all the way to the presidency

President Félix Tshisekedi was initially enthusiastic about new solar-powered water pumps and street lighting, but the contracts have given rise to violent score settling in the presidential entourage amid accusations of overcharging.

Subscribers only Infrastructure, Politics 26.07.2024

DRC
Gécamines hit with monthly bills of $150,000 for financial consultancy

A judicial investigation has been launched into a contract signed last year between the Inspectorate General of Finances and the state-owned mining company.

Subscribers only Finance, Mining 17.07.2024

DRC
Identity card contract worth nearly $700m sparks turmoil at top of government

The public body responsible for monitoring and supervising public-private partnerships is strongly contesting the deal signed with the Afritech-Idemia consortium to issue identity cards. It is calling for rescission of a contract worth nearly $700m.

Subscribers only Business 17.06.2024

Spotlight | DRC
IGF opposes Gécamines over mega-bonuses worth €40m

Gécamines' board of directors voted to pay a 5% bonus to the members of the committee that negotiated a $1.6bn deal with China's Tenke Fungurume Mining.

Subscribers only Mining, Business 15.01.2024

Gécamines' headquarters in Lubumbashi, DRC, on 16 January, 2021.

Spotlight | DRC
Kinshasa turns to the mining companies for fresh funds

As it struggles to balance its books despite record revenues last year, Kinshasa is looking to the mining sector to help it improve its finances. The government is using every means at its disposal, including a tax on exceptional profits and an increase in Chinese companies' royalty payments.

Subscribers only Mining 21.06.2023

President of the DRC Felix Tshisekedi, 4 February 2023.

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DRC
Agence de pilotage, de coordination et de suivi des conventions de collaborations
Agence nationale de renseignement
André Lolo Wameso
Antoinette N'Samba Kalambayi
Centre de recherche en finances publiques et développement local
Felix Tshisekedi
Freddy Yodi Shembo
Gecamines
Guylain Nyembo
Inspection Generale des Finances
Jules Alingete Key
Nicolas Kazadi
Nicole Bwatshia Ntumba
Placide Nkala Basadilua
Rose Mutombo Kiese
Sicomines

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DRC
Behind the mysterious million-dollar fees for revising 'contract of the century'

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Set up email notifications for these topics

DRC
Gécamines worried by lacklustre performance of STL germanium plant

DRC
Government on mission to improve state company governance

Spotlight | DRC
Ailing Gécamines ordered to open its books

Spotlight | DRC
The story behind the attempt to unsettle Inspectorate General of Finances boss Jules Alingete

DRC
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DRC
Gécamines hit with monthly bills of $150,000 for financial consultancy

DRC
Identity card contract worth nearly $700m sparks turmoil at top of government

Spotlight | DRC
IGF opposes Gécamines over mega-bonuses worth €40m

Spotlight | DRC
Kinshasa turns to the mining companies for fresh funds

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Indigo Publications' websites

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DRC Behind the mysterious million-dollar fees for revising 'contract of the century'

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Set up email notifications for these topics

DRC Gécamines worried by lacklustre performance of STL germanium plant

DRC Government on mission to improve state company governance

Spotlight | DRC Ailing Gécamines ordered to open its books

Spotlight | DRC The story behind the attempt to unsettle Inspectorate General of Finances boss Jules Alingete

DRC The drilling contracts scandal that's causing embarrassment all the way to the presidency

DRC Gécamines hit with monthly bills of $150,000 for financial consultancy

DRC Identity card contract worth nearly $700m sparks turmoil at top of government

Spotlight | DRC IGF opposes Gécamines over mega-bonuses worth €40m

Spotlight | DRC Kinshasa turns to the mining companies for fresh funds

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Senegal
Guns and oil drive Russia's Dakar courtship

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

DRC
Behind the mysterious million-dollar fees for revising 'contract of the century'

DRC
Gécamines worried by lacklustre performance of STL germanium plant

DRC
Government on mission to improve state company governance

Spotlight | DRC
Ailing Gécamines ordered to open its books

Spotlight | DRC
The story behind the attempt to unsettle Inspectorate General of Finances boss Jules Alingete

DRC
The drilling contracts scandal that's causing embarrassment all the way to the presidency

DRC
Gécamines hit with monthly bills of $150,000 for financial consultancy

DRC
Identity card contract worth nearly $700m sparks turmoil at top of government

Spotlight | DRC
IGF opposes Gécamines over mega-bonuses worth €40m

Spotlight | DRC
Kinshasa turns to the mining companies for fresh funds