Advertisement

Congo's Kabila and family worth millions, new report says

Friday July 21 2017
KABILA

Democratic Republic of Congo President Joseph Kabila attends a meeting on January 19, 2015 in Kinshasa. PHOTO | AFP

By REUTERS

Congo President Joseph Kabila and his family own stakes in more than 80 companies at home and abroad that are likely worth 10s of millions of dollars, a report by a US-based body said on Thursday.

The report by the Congo Research Group at New York University is based almost entirely on public records like land titles and incorporation documents.

It is the most comprehensive mapping to date of Kabila and his family's fortune after two decades in charge of Africa's top copper producer.

Reuters was not immediately able to independently confirm the information in the report, which does not allege wrongdoing by Kabila.

READ: Kabila rival files UN rights complaint against DR Congo govt

The president is barred by Democratic Republic of Congo's constitution from being involved in a professional activity but not from owning companies or making investments.

Advertisement

"No one is barred from having assets because he is from the Kabila family," government spokesman Lambert Mende told Reuters.

"If someone thinks that (Kabila) committed an objectionable act related to those assets, (that person) can address the justice system."

Before Kabila's father, Laurent-Desire, came to power in 1997, he and his family lived in exile in Tanzania, where, according to the report and other accounts, the family struggled financially.

Now, the Kabila family's holdings include over 70,000 hectares of farmland, a lucrative stake in Congo's largest mobile phone network and over 100 mining permits for diamonds and gold, the report said.

READ: DR Congo cracks down on gold smugglers

"A conservative reading of public documents suggests that their companies have had hundreds of millions of dollars in revenues since 2003, and that they own assets that are easily worth many tens of millions of dollars," the report said.

READ: The African power players in the Panama Papers

Advertisement