Wednesday, May 4, 2016

Congo's Secret Sales | Global Witness

Congo's Secret Sales | Global Witness Bookmark and Share

Between 2010 and 2012, major mining concessions in Democratic Republic of Congo were acquired by huge international mining companies for billions of dollars. 
But most of that money never reached the Congolese state coffers. The assets were sold in secret, initially transferred at knockdown prices to a series of offshore companies, which then made the sales to the major multinational companies. The Congolese state is estimated to have lost out on at least $1.36 billion in the process – equivalent to twice the country’s health and education budgets combined.