The Democratic Republic of Congo has initiated an investigation into the embezzlement of over $300 million from state-owned mining company Gecamines between 2012 and 2020.
This move follows a statement from the justice ministry on Saturday, which instructed the public prosecutor to open a court case against those responsible for the misappropriation of public funds.
Gecamines, a significant player in the global copper and cobalt markets, has long faced accusations of corruption from non-governmental organizations and opposition politicians.
The company’s financial dealings have been under scrutiny, particularly after Congo’s public finances watchdog, the General Inspectorate of Finances (IGF), discovered that over $400 million in tax advances and loans were unaccounted for in 2022.
The IGF’s investigation revealed that $413 million was presumed to have been misappropriated, and auditors continue to investigate.
Additionally, a separate audit found that Gecamines had embezzled advance tax payments worth around $315 million between 2012 and 2020.
The justice ministry’s probe will focus on the embezzlement of advance tax payments, and international arrest warrants have been issued for the accused. However, no names have been disclosed.
