KINSHASA (Reuters) – Former Democratic Republic of Congo President Joseph Kabila in December awarded an oil drilling license that overlaps a wildlife-rich UNESCO world heritage site, according to official records, reviving concerns about environmental protections.Continue reading “Congo’s former president awarded oil block in UNESCO heritage site”
Close on the heels of its corporate nemesis Apple, Samsung has also moved to secure a cobalt supply in the Democratic Republic of Congo.
Samsung is in talks with Somika, a Congolese mining company to secure a supply of the metal used in everything from smartphones to electric vehicles. The talks are still in Continue reading “Like Apple, Samsung is going to source cobalt directly from DR Congo”
By Aaron Ross
KINSHASA, April 2 (Reuters) – The expiry of Congolese President Joseph Kabila’s second mandate next year, a crucial test of governance, risks exposing the limitations of Western donors trying to promote democracy and transparency in return for the billions they have spent on aid. Continue reading “ANALYSIS-West losing influence in Congo at political crossroads”
The Democratic Republic of Congo lost at least $725m (£612.2m) in potential revenues between 2010 and 2012 as a result of miner ENRC undervaluing state assets, a panel led by former UN secretary general Kofi Annan has alleged.
Five mining deals, three of which involve ENRC, cost the African nation $1.36bn over the period as a result of the alleged undervaluation, the Africa Progress Panel said.
“No country better illustrates the high costs associated with opaque concession trading than the Democratic Republic of the Congo,” it said.
“Total losses from the five deals reviewed were equivalent to more than double the combined annual budget for health and education in 2012.”
The annual report, on challenges associated with natural resources in Africa, said there was no inference of illegality on the part of political leaders or the companies involved. Continue reading “Kofi Annan report criticises ‘opaque’ Congo deals by ENRC”