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Why are you trying to track him down?
He owes me money
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Why are you trying to track him down?
You fuck-head!$AVZ
Sino-Congolese contract: "Stop politicizing the Sicomines affair"
“We send a message to all those who want to do political recovery of the Sicomines affair: stop.
The General Inspectorate of Finance has produced a technical report.
This mission started 6 months ago.
It is not because there are elections today that we have to stop working", declares, guest of the Special Edition on Top Congo FM, Jules Alingete, head of the services of the General Inspectorate of Finances (IGF), about the "misguided sons of the DRC" who accompanied (by passivity or complicity) Chinese companies in the selling off of natural resources within the framework of what were then called "Chinese contracts" signed in April 2008.
"Let those who are agitated, stop. My brothers Congolese politicians who were agitating, you are not concerned. Do not be afraid.
Be with us to defend the interests of the Congo, don't play into the hands of these Chinese companies who put forward to make believe that this is a problem between Congolese.
Stop your useless agitations”, he urges.
"The message I send them is that we have no problem with you. We understand the circumstances in which you acted. We say to you (simply): Congo first", reassures Jules Alingete.
"The report is technical and can be summed up in one thing: what we were promised in the agreement has not been given to us. We are only asking that we be able to give it and that in addition, we revisit the agreement to rebalancing the benefits, just that," he insists.
The Chinese didn't execute the convention alone?
"There are also many Congolese, Congolese structures that have intervened, but I do not want to put them on the dock.
I would simply like these Congolese to be with us to ask, in the interest of Congo, the Chinese side, its companies, to fulfill their commitments.
A point, a line", pleads the chief inspector.
“We ask Chinese companies involved in the convention to fulfill their commitment.
Subsequently, we ask these companies to sit down with the agency responsible for monitoring and coordinating their activities to examine the review of this contract which is totally unbalanced", he explains.
What about the status quo?
And in the case of China or at least its companies did not move one iota, Jules Alingete begins by noting "that the Congolese government has done what it promised.
They (Chinese companies) have promised infrastructure, it's a commitment.
They have to keep it (as long as they) recognize that we are at 822 million dollars instead of 3 billion over 15 years”.
And it is precisely "where we can say that the Congolese have abused, it is in the 822 million dollars of infrastructure that we estimate to have been overcharged.
In this Congolese part, there is the Agency for Major Works which was responsible for monitoring", he reveals, before returning to the hypothesis where the Chinese part does not run.
"The operating permit is renewable by the government", begins by recalling this senior public official.
Already, “next year, it will have to be renewed.
The government may not renew the permits.
These are coercive measures to lead to negotiation.
It's not just that (need to know).
Today, they no longer have exemptions.
There are other measures we can take," he said.
The political class, a misfortune
However, "these are partners and we are within the framework of a convention.
Let's not set fires.
We ask them (simply) to fulfill their commitment and that we can examine the agreement to see which provisions will have to be revisited", resumes Jules Alingete before going there with his clear and absolutely sharp peak: "The misfortune of the Congolese people is their political class".
Certainly, "it is true that in this political class, we have values, but the majority, nearly 90% of the people who are part of the Congolese political class promote mediocrity, to paraphrase Cardinal Mosengwo", formulates he.
“I go even further: they promote hooliganism.
That is to say public governance by corrupt people.
We must be patriots, we must love Congo.
If we do not defend the interests of Congo, there is no one who will come to do it in our place", he says.
mediacongo
View attachment 30316
Chinese contract unpacked: Jules Alingete scratches and puts pressure, Sicomines already drops 700 million dollars!
Jules Alingete played and won the DR-Congo, which lost billions in the deal with China presented as the "contract of the century" which should be "win-win".
The investigation into this contract, carried out by the brigade of inspectors of the General Inspectorate of Finance -IGF- under the leadership of Alingete, revealed a flagrant imbalance in favor of Chinese interests.
The gain of the Grouping of Chinese companies -GEC-, born following the conclusion of the "contract of the century" in 2008, was evaluated at USD 76 billion by the IGF while the DR-Congo only obtained USD 3 billion.
In the end, revealed "Jeune Afrique", which got its hands on a still confidential part of the audit submitted to President Félix Tshisekedi, the Chinese side has only mobilized USD 4.47 billion in 14 years, of which only 822 million were used to finance the construction of infrastructures, moreover "invisible".
The IGF report caused an outcry on the web, not without putting "pressure" on the negotiations started last November between the GEC and the DR-Congolese State, represented by the Agence de pilotage de coordination et de follow-up of collaboration agreements -APSC.
The latter, created in March 2022 to monitor the various collaboration agreements between the DR-Congo and its private partners, replaced the Coordination and Monitoring Office of the Sino-Congolese Program - BCPSC.
The Director General of the APSC, Freddy Yody Chembo, during his speech on the airwaves of Top Congo, announced that the Sino-Congolese mines -SICOMINES-, one of the companies of the GEC, will release a total of USD 700 million this year for the construction of infrastructure for the benefit of the DR-Congo.
Thanks to this same intervention, Freddy Yody Chembo acknowledged that “the IGF report has increased the pressure” on Chinese companies which have already dropped USD 500 million while negotiations continue.
This sum will be released in two stages: first USD 350 million and then USD 150 million.
It will, according to the director general of the APSC, be injected into projects “to be carried out by the Ministry of Infrastructure”.
The DR-Congolese party, he said, has requested an additional USD 200 million which will bring the total amount to be paid into the Treasury account this year to USD 700 million.
"The negotiations being in progress, it is likely to go beyond these 700 million which will allow the Republic to regain its rights", an observer told AfricaNews, while welcoming the "work of the titans" carried out by Jules Alingete, head of the General Inspectorate of Finance -IGF-, to "give a necessary push to the negotiations so that the Chinese contract can really benefit the DR-Congolese".
For Alingete and its inspectors, this contract, in its initial form, represented “unacceptable economic colonization”.
This, given that the country has lost 3,500 km of road, as many kilometers of railway, 31 hospitals and 145 health centers.
These various infrastructures should be built by Chinese companies in return for the exploitation of the DR-Congolese mines.
They should cost 6.5 billion.
To President Félix Tshisekedi, the IGF handed over a list of requirements to correct the “glaring imbalance” found in the Chinese contract.
These include the revision of the distribution of the capital of SICOMINES by taking into account the value of the deposits provided by Gécamines, the revaluation of the amount of infrastructure to be financed by the Chinese party to USD 20 billion USD.
mediacongo
The sentence that ends type. Dreaming Mate. this is how it's always been and yes there will be incremental moves ford over generations. but avz is not going to move the pendulum . In production we will have a say. Jesus the nige was bourn in kuching for christ sakes. If he can't play this game ? Best time in sarawak for years very special place on the planet. Bintulu especially. CheersLots of great info coming through lately.
Feels like the mood has changed here significantly more optimistic overall. Even if no one has clear understanding of where we are.
I stated previously I thought that the cost of doing business in the DRC was a minority ownership by zinjin. If you use AVZ as an example it looks like when a significant deposit was discovered, zinjin would just come in last minute with the brown paper and comi would accept.
Standard practice and way of doing business for way to long.
Just trying to join a few dots here.
It's been previously stated over a year ago that Felix was revisting all mining agreements and now we are hearing news of the DRC wanting a further 1.3 billion from China for these agreements.
The USA is now using the United nations charter to fight corruption in the DRC. They would not be able to do this without an invite from the DRC. in my opinion that is.
I still believe that it was AVZ that did not want to progress to production with zinjin as a minority partner.
Zinjin called avz to the icc, to which AVZ gladly accepted.
I do hope that the AVZ /Zinjin case is being used as an example of how the business climate is changing and that the drc is making moves to stamp out corruption of this type.
Comi are the corrupt fuckers that have been selling off DRC assets for snacks as a way of life.
Quick thoughts while I have a 5 minute break.
Mite have to ask the nigeHmm, more interested as to who is "really" behind Lithium Plus, buying 50m shares off the retrace after ATH one day before suspension, picking up 3/4 Canacord's 76m share dump. Very interesting
It seems that the reshuffled government is coming very soon. That the corrupt ministers, compromised and quoted in the reports of investigations and various audits as well as those who have interests in the mines leave otherwise, the change is not for today. (Civil society)
Yep. With an AVZ share price of $5 and dividend of 11c I know where I'd be .. .. .. .. .. .. ..how sweet it is for those long term pls holders, going through the ups and downs, into production and now receiving their first divi (I have a small holding but nothing like my holding in avz). sincere congrats to those holders. meanwhile we cling to glimmers of hope and some action out of the DRC. if only we could see divvies for avz one day, if only .........
The Manono SEZ is in writing and should prevail (maybe there will just be an additional Chinese SEZ in the DRC)
It seems that the reshuffled government is coming very soon. That the corrupt ministers, compromised and quoted in the reports of investigations and various audits as well as those who have interests in the mines leave otherwise, the change is not for today. (Civil society)