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“My honour was hurt”: Nicolas Kazadi, former Congolese Minister of Finance, settles his scores.

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https://www.capitalfm.co.ke/news/20...lese-minister-of-finance-settles-his-scores/#


Cleared by the courts in a case of embezzlement of public funds in the DRC, the former Minister of Finance Nicolas Kazadi strikes back, denouncing a corrupt ruling class while sparing his boss, President Félix Tshisekedi.
The former Minister of Finance has decided to publicly address his concerns. He is taking stock of events in interviews and media appearances.
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Kazadi, a parliamentarian from the Union for Democracy and Social Progress (UDPS), the presidential party, was accused of overcharging in the “drilling and streetlights” case.
In mid-October, he was finally exonerated by the prosecutor.However, some critics, such as the Public Expenditure Observatory, have claimed the dropped charges are part of a broader scheme orchestrated by President Félix Tshisekedi to “protect allies.”
Kazadi, known to be close to the president, strongly disputes these allegations.
While the trial of his two co-accused began on November 4, without him, Kazadi has since launched a scathing critique of the Congolese ruling class.
He spoke with “Jeune Afrique” in Paris from the offices of his lawyers, which, by coincidence, are located near the DRC embassy.
THE INTERVIEW
Q: You denounce a political and media cabal against you. Who do you accuse?
Kazadi:
There are several groups. In politics, some individuals were threatened by my rise and my successes. In the economic sphere, I likely upset or threatened specific vested interests.
Q: You suggested the General Inspectorate of Finance (IGF) was involved in your troubles. Do you have a problem with its head, Jules Alingete?
Kazadi:
When Jules Alingete began facing criticism in the media, he suspected I was behind it. This assumption arose despite us not being in direct competition. His actions as a consultant to some major Congolese economic players exposed serious conflicts of interest. He found allies to orchestrate attacks against me.
Q: Isn’t Jules Alingete seen as President Tshisekedi’s “anti-corruption man”?
Kazadi:
He had the potential to be that figure, but he missed the mark. His conduct, particularly in the Gécamines and Sicomines cases, showed disregard for standards. One cannot act as both a controller and a consultant.
Q. However, he is someone who has become very important and who has not been disavowed by the president…
You don’t know! Let’s wait and see. Whether he is disavowed or not, the facts are what they are.
Q. To hear you speak, the political class, the justice system and the media are sick. Shouldn’t this record be put at the Head of State’s expense?
Kazadi:
Not at all, on the contrary! President Tshisekedi is the first president in history who wants to face these great challenges. But he is not a superman. At the time Mobutu said: “I am not a magician, alone I can do nothing.” Everyone has to get involved and it takes time.
Q. The debate that concerns the Congolese political class is the revision of the constitution. Are you in favour of it?
Kazadi:
There is not a single political family that has not included this in its program. There is a strong consensus that certain articles of the Constitution need to be revised to make governance more effective, to review the appointment of provincial governors, taxation, dual nationality, etc. What is unfortunate is that this debate did not take place earlier, during the 2023 elections for example. The debate is coming at the wrong time.
Q. Why bring the subject on the table now?
Kazadi:
I believe that President Tshisekedi was waiting to receive a clear mandate from the people – which he obtained by collecting 73% of the votes in the last presidential election – to address this important issue. Knowing that the 2023 election is the most transparent and inclusive since 2006. He therefore has all the legitimacy to put this question of the Constitution on the table.
Q. What is being debated is Article 220, which limits the number and duration of the president’s terms. Should it be touched?
Kazadi:
That is another question. I am talking to you about a constitutional revision [and Article 220 cannot be amended in the context of a simple constitutional revision]. Let us start there.
Q. You know very well that once you start amending the constitution…
Kazadi:
I have not measured the will of the people. I do not know how far they want to go. For me, we must go step by step, and then we will see according to what the Congolese think. For the rest, I will give priority to my point of view to my political family.
Q. Donatien Nshole, Secretary General of the Episcopal Conference of Congo (CENCO), has warned of the cost of a referendum in the event of a change in the constitution. What does the former minister of Finance that you are think about this?
Kazadi:
These are elements that must be taken into account. We know that a revision is easier to do.
Q. Your party, the UDPS, is in crisis. Do you support its Secretary General, Augustin Kabuya, who is the target of a revolt?
Kazadi:
That is not the question. He is the one who has legitimacy today, period. I do not understand this disorder which is likely to weaken the first part of the republic. I can understand the feeling of frustration of the rebels, but not their approach.
Q. You were not reappointed in the new government. Are you disappointed?
Kazadi:
Since there was a legal case, and given the virulence of the attacks against me, it was normal for me to step back. And then it allows me to rest today. My ambition is for the country to do well, with or without me.
Q. You gave interviews to Congolese media. Was it to get people talking about you again or to turn the page?
Kazadi:
You have an overly political reading of the situation. I was hurt in my honor while I had one of the most remarkable careers in this country. This is what had to be restored.What I did was exceptional and Historic.
Q. You mention your record, but the Finance committee of the National Assembly has highlighted poor management of the 2023 budget, which would have “benefited individuals rather than the population” …
Kazadi:
It is still the same lynching that continues in the institutions… I have already said that the Court of Auditors had produced a fake report. The IMF report speaks of 18% of expenditure in emergency procedure [in 2023] and they decide that it is 52%, all shame swallowed! It is then recovered by politicians, most of whom have no training to analyze economic issues. And they continue to repeat these lies in the hope of weakening me.
This is ridiculous. If these are the kind of men who want to run the country, we have to stand up and fight.
“There are things to be sorted out, I have to say. There is a form of drift that consists of making populism, politicizing everything, and making fun of everything as long as it pays off politically. “
Q. So you have no responsibility for the errors?
Kazadi:
In what exactly? What we did, no one has done before us. Expenditures on emergency procedures have dropped considerably. In 2023, they increased a little because of the security component, it’s true. But we had set up a new system, thanks to which we made advances and then reported back. I have nothing to reproach myself for, I sleep soundly and I wake up with a smile, proud of what I have done.
The assessment you make of the situation in the DRC is severe… Is there something rotten in the DRC?
Kazadi:
This is not going well, there are things to be sorted out, I have to say that. There is a form of drift that consists of making populism, politicizing everything, and making fun of everything as long as it pays off politically. I do not belong to this category of politicians. If that is the case, it will be done without me.
We come back to the responsibility of the president of the republic. You describe a situation that certainly does not date from his term of office, but which has not improved under his leadership…
Kazadi:
This is the other side of the coin because President Tshisekedi is a true democrat, who lets people express themselves. At times, I feel that a little more firmness is needed, but that is just my opinion.

 
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Cumquat Cap

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Locke win big if we fail to pay back by Dec 2026. They’ll just sell the asset to the highest bidder. Locke win no matter what happens. But glad to have the funds and I’m sure a result is imminent given we’ve been waiting for close to three years. 😉
Emrrrgggggeddddd - get lost cocksucker
 
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cruiser51

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whales

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Just some background on Lobito.

This is essentially a western initiative and is / will be controlled by the west in order to facilitate mineral exports to the US & EU.
NB Parts are already operating and shipments of copper were made from Lobito in August 2024

There are loads more artiles, so DYOR:






  1. Home
  2. Global Gateway
  3. Connecting the Democratic Republic of the Congo, Zambia, and Angola to Global Markets through the Lobito Corridor

Connecting the Democratic Republic of the Congo, Zambia, and Angola to Global Markets through the Lobito Corridor​

The Lobito Corridor connects the Southern regions of the Democratic Republic of the Congo (DRC), northwestern Zambia and Angola to regional and global trade markets via the port of Lobito.

The Lobito Corridor is the first strategic economic corridor launched under the flagship G7 Partnership for Global Infrastructure and Investment (PGII), in May 2023. In the margins of the G20 Summit in New Delhi in September 2023, the EU and the US released a Joint Statement, teaming up to support the development of the Corridor.
The Lobito Corridor will unlock the enormous potential of the region, enhance export possibilities for Angola, the Democratic Republic of the Congo (DRC) and Zambia, and create added value and jobs through investments and soft measures.
Lobito Corridor Map

Background​

Announced through a EU-US Joint Statement in the margins of the Partnership for Global Infrastructure and Investment (PGII) event at the G20 in India in September 2023, the Lobito Corridor is a key priority under the G7’s PGII.
The EU and the US are co-leading the support for the Corridor's development, including infrastructure investments, soft measures for trade and transit facilitation, investments in related sectors to foster sustainable and inclusive growth and capital investments (agriculture value chains, energy, transport/logistics, technical and vocational education and training) along the Corridor in Angola, DRC and Zambia.
During the Global Gateway Forum in October 2023, the EU and the US signed - together with Angola, DRC, Zambia, the African Development Bank (AfDB) and the Africa Finance Corporation (AFC) - a Memorandum of Understanding (MoU) to define the roles and objectives for the Corridor’s expansion.

Scope and objectives​

In January 2023, the Ministers responsible for Transport and Corridor Development from Angola, DRC and Zambia, with support and coordination of the Secretariat of the Southern African Development Community (SADC), signed the Lobito Corridor Transit Transport Facilitation Agency (LCTTFA) Agreement. The LCTTFA Agreement aims to provide an effective and efficient route that facilitates the transportation of goods within territories between the three Corridor Member States, through:
  1. harmonisation of policies, laws and regulations;
  2. coordinated joint corridor infrastructure development strategies and activities;
  3. dissemination of traffic data and business information; and
  4. implementation of trade facilitation instruments.
The goal is to support greater participation of SMEs in business value chains, mainly in agriculture and mining, with the view of increasing trade and economic growth along the Lobito Corridor and across the SADC Region.

Results​

Once transport infrastructure connecting all three countries is fully operational, the line will enhance export possibilities for Zambia, DRC and Angola, boost the regional circulation of goods and promote the mobility of citizens. By significantly reducing the average transport time, the Corridor will lower the logistics costs and carbon footprint for exporting metals, agricultural goods, and other products as well as for future development of any mineral discoveries.

Key information​

Implementing organisations: Team Europe +, AfDB, AFC and US
Partners: The European Commission, the Government of the United States of America, the Government of the Republic of Zambia, the Government of the Republic of Angola, the Government of the Democratic Republic of Congo, the African Development Bank (AfDB), the Africa Finance Corporation (AFC).
Funding instrument: NDICI

Related document​


Agree Dave $2.5 billion is not enough . I forgot DRC takes 25%?? off the top . So make that $5bil+USD minimum . This is the part that makes me shake my head . The DRC will pick up at least a Billion $$$ by allowing AVZ to sell the project to a buyer of the DRC choosing .
I keep shaking my head also .
If only a few are corrupt in the DRC then certainly taking their time to deliver the mining licence to AVZ .
Sell the project to a buyer of the DRC choosing or one that EU and USA put enough pressure on the DRC to act on.
Port of Lobito and Tanzania can with USA and EU applying enough pressure to restrict lithium being exported by Chinese .
These ports are not controlled by Chinese ?
Especially if AVZ wins all the court cases.
Cobold Metals also work in partnership with BHP and RIO so not lacking in potential funds to make it worthwhile for all involved.?
 
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ptlas

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Locke win big if we fail to pay back by Dec 2026. They’ll just sell the asset to the highest bidder. Locke win no matter what happens. But glad to have the funds and I’m sure a result is imminent given we’ve been waiting for close to three years. 😉
There is NO asset to sell until AVZ wins.
If we win, then pay back will not be a problem.
 
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PhatCatz

Member
There is NO asset to sell until AVZ wins.
If we win, then pay back will not be a problem.
Cheers for the response. Seems I was overthinking in my head. Been a long few years and life is passing by with a large portion of my wealth locked up in this bs. Seeing friends partner up, buy housing, have children and you’re dreams are stuck on hold is depressing. Let’s hope something settles in two years.
 
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Lopu

Emerged
There is NO asset to sell until AVZ wins.
If we win, then pay back will not be a problem.
Sorry to disagree. Locke has AVZ and all subsidiaries and assets as security. If AVZ can not pay back, Locke could for example sell the stake in Dathcom. Zijin would be the majority shareholder of Dathcom. And everyone has seen how quickly Zijin is getting approvals and permits. By whatever means they apply, they get the paperwork. And with AVZ out who should question it or bring it to court/ arbitration. But maybe I misread it. I am not a native English speaker
 
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Lopu

Emerged
Sorry to disagree. Locke has AVZ and all subsidiaries and assets as security. If AVZ can not pay back, Locke could for example sell the stake in Dathcom. Zijin would be the majority shareholder of Dathcom. And everyone has seen how quickly Zijin is getting approvals and permits. By whatever means they apply, they get the paperwork. And with AVZ out who should question it or bring it to court/ arbitration. But maybe I misread it. I am not a native English speaker
IMG_8909.jpeg
 
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Cumquat Cap

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Sorry to disagree. Locke has AVZ and all subsidiaries and assets as security. If AVZ can not pay back, Locke could for example sell the stake in Dathcom. Zijin would be the majority shareholder of Dathcom. And everyone has seen how quickly Zijin is getting approvals and permits. By whatever means they apply, they get the paperwork. And with AVZ out who should question it or bring it to court/ arbitration. But maybe I misread it. I am not a native English speaker
Mandarin native I bet
 
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Flexi

Regular
All I want for Christmas is a small gift.
AVZ Announcement stating they have paid both fees (AVZ & DRC) to ICSD and the hearing is back on schedule.
Anything more will be a bonus and accepted with wide open arms and hugs
 
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Azzler

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Sorry to disagree. Locke has AVZ and all subsidiaries and assets as security. If AVZ can not pay back, Locke could for example sell the stake in Dathcom. Zijin would be the majority shareholder of Dathcom. And everyone has seen how quickly Zijin is getting approvals and permits. By whatever means they apply, they get the paperwork. And with AVZ out who should question it or bring it to court/ arbitration. But maybe I misread it. I am not a native English speaker
Your line of thinking is completely wrong. And I suspect you're just a troll.

All lenders need security.
If we can't get our asset back to sell, then the asset is of no value to Locke.
If we get our asset back to sell, then we have the money to pay back Locke.
If we then decided to be jerks and not pay Locke back, then they have legal recourse to secure what has been put down as security.

So fuck off troll.
 
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PhatCatz

Member
Sorry to disagree. Locke has AVZ and all subsidiaries and assets as security. If AVZ can not pay back, Locke could for example sell the stake in Dathcom. Zijin would be the majority shareholder of Dathcom. And everyone has seen how quickly Zijin is getting approvals and permits. By whatever means they apply, they get the paperwork. And with AVZ out who should question it or bring it to court/ arbitration. But maybe I misread it. I am not a native English speaker
That’s where my head has been and the biggest concern of mine. They just sell assets to the Chinese as a fire sale. After all they’ve only put up a small sum and they’d make that back easy with a sell off. They aren’t in the business of mining.

But that is an issue for a future date. We live another two years and I hope the BOD are working behind the scenes to secure additional funding from somewhere else. Unsure how though if all of the assets are already given up to Locke.
 

Hudnut

Regular
Re: ICSID periodic fees

I understand that at this stage neither AVZ nor the DRC has paid its periodic ICSID fees, and as a result the case is suspended (temporarily).

While AVZ may have previously been short of funds, I am guessing that the DRC's motive in not paying is a clumsy attempt to stall the proceedings and ultimately get them cancelled. Typical DRC shitfuckery, which I hope back-fires big time.

So what sort of costs are we looking at?

ICSID charges an administrative fee of US$52,000/annum for its arbitration and conciliation services, which is typically divided equally between the parties. Therefore AVZ and the DRC each pay US$26,000 annually.

While this fee covers the ICSID's administrative services throughout the duration of the proceedings, ICSID also charges US$200/hr for staff services in mediation and fact-finding proceedings, plus additional charges for specific case-related expenses such as transcripts and interpretation.

On face value these fees seem reasonable, and even if AVZ needs to pay the DRC’s share in order to get proceedings back on track, it is a small price to pay in the broader picture of the billions at stake.

Cheers

F

I thought someone reported that at the AGM and surrounding conversations, Nige said we were going to pay the DRC's ICSID fees to keep things moving.
 
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Juba1845

Regular
Your line of thinking is completely wrong. And I suspect you're just a troll.

All lenders need security.
If we can't get our asset back to sell, then the asset is of no value to Locke.
If we get our asset back to sell, then we have the money to pay back Locke.
If we then decided to be jerks and not pay Locke back, then they have legal recourse to secure what has been put down as security.

So fuck off troll.
This is incorrect . The likely outcome if no settlement is the DRC through Chinese money will pay Locke to have all legal proceedings dropped, then legitimately take control of all Manono both north and south . Did Nigel explain to share holders what happens if legal proceedings are still ongoing come December 2026 or if AVZ win and compensation takes years ? Surely this is an incentive for continued delays . Nigel should have negotiated a longer contract . December 2028 .
 
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j.l

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I thought someone reported that at the AGM and surrounding conversations, Nige said we were going to pay the DRC's ICSID fees to keep things moving.
Correct.

Well, that's certainly my understanding of what Nigel said at the AGM - i.e. AVZ now has the funds and will pay 'both sides' of the security fee ASAP. Not sure how long that will take or what that means in terms of delays incurred by 'slipping down the queue' at ICSID (if there is such a concept), but it is what it is.

I do wonder what other delay tricks Fasken and DRC have left up their sleeve but presumably we'll see them all used over time.

Hopefully DLA Piper identified such potential events via risk assessment and have factored them into the budget and timelines agreed with AVZ and Locke.
 
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Flight996

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I thought someone reported that at the AGM and surrounding conversations, Nige said we were going to pay the DRC's ICSID fees to keep things moving.

Yes, and I am simply pointing out the actual costs involved, and that paying them a small price to pay in order to side-step the DRC's shitfuckery.

Cheers
F
 
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Goldenboy

Regular
Re: ICSID periodic fees

I understand that at this stage neither AVZ nor the DRC has paid its periodic ICSID fees, and as a result the case is suspended (temporarily).

While AVZ may have previously been short of funds, I am guessing that the DRC's motive in not paying is a clumsy attempt to stall the proceedings and ultimately get them cancelled. Typical DRC shitfuckery, which I hope back-fires big time.

So what sort of costs are we looking at?

ICSID charges an administrative fee of US$52,000/annum for its arbitration and conciliation services, which is typically divided equally between the parties. Therefore AVZ and the DRC each pay US$26,000 annually.

While this fee covers the ICSID's administrative services throughout the duration of the proceedings, ICSID also charges US$200/hr for staff services in mediation and fact-finding proceedings, plus additional charges for specific case-related expenses such as transcripts and interpretation.

On face value these fees seem reasonable, and even if AVZ needs to pay the DRC’s share in order to get proceedings back on track, it is a small price to pay in the broader picture of the billions at stake.

Cheers

F
I think the figure I heard from the info session was around $450 K ( each ).....I stand to be corrected
 
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TheCount

Regular
Your line of thinking is completely wrong. And I suspect you're just a troll.

All lenders need security.
If we can't get our asset back to sell, then the asset is of no value to Locke.
If we get our asset back to sell, then we have the money to pay back Locke.
If we then decided to be jerks and not pay Locke back, then they have legal recourse to secure what has been put down as security.

So fuck off troll.
Edit: "fuck off Shane".
 
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Goldenboy

Regular
This is incorrect . The likely outcome if no settlement is the DRC through Chinese money will pay Locke to have all legal proceedings dropped, then legitimately take control of all Manono both north and south . Did Nigel explain to share holders what happens if legal proceedings are still ongoing come December 2026 or if AVZ win and compensation takes years ? Surely this is an incentive for continued delays . Nigel should have negotiated a longer contract . December 2028 .
We won't get to that stage .....The DRC needs the lithium out of the ground. When they see that they can't win then the negotiations start . The DRC has let Zigin go ahead so that the DRC is then getting royalties and taxes on two fronts and not only on one front (AVZ)....we get compensation for the north and everyone prospers ( my take on the future from all the snippets of info )
 
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Flight996

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I think the figure I heard from the info session was around $450 K ( each ).....I stand to be corrected

Wow, I will recheck my information sources, which are Perplexity.AI and Google Gemini.

In retrospect, the figures that both sources quote seem low in the scheme of things. I wonder if there are not other fees, which have not been taken into account. I will recheck.
 
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