oxxa23
Regular
Who's she?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
All IGF inspectors called to stop their work by August 30
Several inspectors from the General Inspectorate of Finance, IGF have just confirmed the information concerning the instruction given by the Head of State, Félix Antoine Tshilombo Tshisekedi to Jules Alingete, the main inspector, to call back all the inspectors on a mission of financial control in public institutions and enterprises.
As of September 1, no more financial control in the institutions and companies of the Congolese state.
The last inspectors who control public institutions and companies therefore have until August 30, 2023 to definitively return to their initial assignment position, that is to say at the IGF.
For several of these inspectors, Jules Alingete was not sincere and courageous during the information meeting held a few days ago at the premises of the IGF in Gombe.
The latter believe that he lied to the inspector controllers that they are all recalled no later than August 30 to their initial assignment to undergo training for a few months:
“What is this training of a few months which strangely occurs before the period of the electoral campaign?
What is this training that requires all controller inspectors to take it all at the same time?
Shouldn't the so-called training be staggered to two or even three teams to allow the continuity of the IGF's investigations during this election period?
Finally, the IGF inspectors who anonymously denounce the political shenanigans to draw money from the state coffers in order to finance the presidential and legislative campaign of Félix Antoine Tshilombo Tshisekedi and his partners in the sacred union.
mediacongo
View attachment 43215
DRC: Faced with the mismanagement deplored by Tshisekedi, the IGF intends to intensify its financial surveillance of public entities
- Monday, August 28, 2023 - 2:47 p.m.
Faced with a management criticized by President Félix Tshisekedi, the General Inspectorate of Finance (IGF) intends to strengthen its vigilance on the finances of public companies and establishments.
At the 110th meeting of the Council of Ministers, the Head of State highlighted the need for public officials to adopt, in all circumstances, managerial conduct based on good governance, in order to ensure better performance. .
Mr. Tshisekedi highlighted the management shortcomings, regularly denounced and identified by the IGF as well as other control structures.
He pointed out that these shortcomings have persisted in part because of the inaction of the auditors. The latter, having received a legal audit mandate from the State, should have certified the annual accounts after verifying the sincerity and conformity of the financial data in accordance with the standards of good governance.
In the wake of these criticisms, the IGF reiterated its determination to maintain active financial monitoring within public entities to combat practices contrary to sound management.
“The financial patrol, which aims to monitor and control certain financial operations upstream, will remain a central mission of the IGF to counter any drift in public management,” the organization said on its Twitter account on August 27, 2023.
Since Félix Tshisekedi is head of state and with the appointment of Jules Alingete Key to the management of the IGF, the organization has made the fight against financial fraud its priority.
This initiative is widely welcomed by the Congolese population.
The financial patrol of the IGF plays a major role in the mobilization of public revenues.
According to Jules Alingete, it remains the main tool for eliminating bad practices in the management of public finances.
Clement MUAMBA
Mr Inappropriate
Regular
Or…
Maybe…
The Minister of Mines could just follow the law (the Mining Code)
CAMI could just follow the law and issue the surface rights fee
Cominier could just follow the letter of the Dathcom JV agreement and facilitate final sale of % so we can all go mining.
It’s just a thought. Silly me and my crazy out-of-the-box thinking…
#Fuckzijin
Xerof
Biding my Time 1971
Financial Patrol in companies and public establishments. No instructions from the President of the Republic to end the control. The
@IgfRdc will relentlessly pursue the monitoring of all public entities before and after the 2023 elections.
More push-back around the various interpretations of what's ACTUALLY going on.
ffs
but this comment is directly from Jesus......
Do I need to go back to school and learn Math again, or is this part the craziest bit of this whole thing. Cominiere is trying to say AVZ want it all.
How is this not a good deal for the DRC, when they have invested NOTHING, and walk away with ~45% of the profit?
Hodlandwin69
Regular
Please correct me if I'm wrong, but doesn't the SEZ have some tax free period or something? Like 2 years? I don't know specifics, please enlighten me, but perhaps they're annoyed about that as tax revenues is clearly a large chunk
Hodlandwin69
Regular
And different tax laws, not just standard 35% or whatever
Azzler
Top 20
It was a 2 year tax free period to compensate for 10% free carried.
However everything is probably renegotiated, that may or may not still stand.
Yes I didn't realise tax was 35%, seems excessive, not sure if it's right.
Skar
Regular
Without having access to the facts and with clarity of hindsight, I still question how we have gone from a well-funded position and imminent ML to almost out of capital and further (decree cancelled, multiple legal challenges, etc) from an ML. Maybe management are negotiating and don't want to show their hand... but as an investor, all that capital we burnt through drilling and paying BOD for an inactive asset, has seemingly seriously weakened our position and opened me up to significant dilution.
We have to show our hand before we run out of capital (which was the Chinese strategy all along). I just hope I am wrong and NF pulls a rabbit out of a hat.... otherwise I am destined to a 9-5 for another 20 years or so.... unless there is another 25 bagger like AVZ in the mix
.
The Fox
Regular
EY's Report Mid 2022
Page 371
PWC Report End 2022
Page 371
PWC Report End 2022
Congo, Democratic Republic of the - Overview
Overview of business environment/doing business in the Democratic Republic of the Congo as it pertains to taxation, both individual and corporate
taxsummaries.pwc.com
I'm betting the mining industry tax system is pretty complicated, so that was by no means meant as an indication of what tax rates to expect. It was simply quoting the figures used in the quoted post.
The point being that the benifit as a whole to the DRC by far exceeds the shareholding they retain in Dathcom. And this position some people are presenting on X that AVZ are trying to take everything for them selves is just simply wrong. The deal that is documented is actually a very fair deal for both the DRC (the owners of the lithium in the ground), and the investors that bring the capital needed to dig it out, process it and sell it.
IMO bla bla
The point being that the benifit as a whole to the DRC by far exceeds the shareholding they retain in Dathcom. And this position some people are presenting on X that AVZ are trying to take everything for them selves is just simply wrong. The deal that is documented is actually a very fair deal for both the DRC (the owners of the lithium in the ground), and the investors that bring the capital needed to dig it out, process it and sell it.
IMO bla bla
It depends on what the options are of course.
Is negotiating and having to deal with corruption and the possibility of being fucked over again down the track in the interests of shareholders?
Can you imagine the BoD taking salary over the next 3 to 5 years while we fight it out in the courts? For what ?Without having access to the facts and with clarity of hindsight, I still question how we have gone from a well-funded position and imminent ML to almost out of capital and further (decree cancelled, multiple legal challenges, etc) from an ML. Maybe management are negotiating and don't want to show their hand... but as an investor, all that capital we burnt through drilling and paying BOD for an inactive asset, has seemingly seriously weakened our position and opened me up to significant dilution.
We have to show our hand before we run out of capital (which was the Chinese strategy all along). I just hope I am wrong and NF pulls a rabbit out of a hat.... otherwise I am destined to a 9-5 for another 20 years or so.... unless there is another 25 bagger like AVZ in the mix
True . However some may just like access to their money and the ability to decide what they want to do . The damage is done in terms of trust regardless how this plays out . If we are still at a Brick Wall then a negotiated settlement , whether by pay out or collaborative agreement , is the right way forward imo . I don't know anyone who wants their money tied up in this sh1t show for years to come .
Cybelle Kamba Kabasu
@CybelleKamba
"Before withdrawing the complaint(legal process) make sure you get what is rightfully yours and if not, go all the way but what is true, the DRC has no money to pay the damages".
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