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Why the DRC is a dangerous place to invest
The DRC government and mining sectors are rife with bribes, corruption and extortion. In the last two years alone, dozens of articles have been written on the corruption in the Congo by sources including NGOs, Civil Societies and mining and investment sites. These articles sound the alarm on the corruption in the DRC and its mining sector, including China's influence, mining fraud, money laundering, and extortion.
In April 2023 Media Congo released an article showing the Congo Study Group (GEC) and Ebuteli survey, with the Bureau d’études, de recherche et de consulting international found that the level of corruption has not changed. They found, in some cases the situation had got worse and that more than 77% of the public think that the country is affected by corruption.
In May 2023 the Frazer Institute ranked the DRC 82nd out of 83 countries for attractiveness to investors in the mining sector. Also in May 2023 four of the DRC's main opposition politicians wrote to the IMF, World Bank and African Development Bank, asking them to conduct an audit of their funds in the Congo because they suspected misuse.
In June 2023 the DRC's own National Business Climate Barometer (BNCA) involving 403 companies gave it a 37% success rating. Also in June 2023 the DRC was excluded from the list of investments of the French mining group ERAMET, sighting corruption in the DRC.
In July 2023 non-compliance and flagrant violations of the DRC Mining Code were reported and Congolese civil society organizations and platforms specializing in mining issues (Justicia Asbl, LICOCO, RND Asbl, POM, MDR, GANVE, CDH, ESPOIR ONG, RCEN, CERN / CENCO, TPRDC, MAX IMPACT) have all shown concern.
Also in July 2023 an article in the Africa Report on 4 July shows that a bill for sanctions against corruption in minerals trafficking in the DRC has been introduced in the US. With the appalling working conditions present in the DRC mining sector, and extremely opaque business climate that exists throughout the country, the bill aims to counter these abuses and calls for sanctions, including asset blocks on persons found to have facilitated child and forced labour in the DRC mining sector "including any official of the government of the DRC".
But the corruption is not just in the government and mining sectors, it's in other sectors such as the legal system, administration, police and infrastructure just to name a few. The DRC's own Inspector General of Finance recently stated over 145 thousand cases of civil servants and agents of the state had committed forgery and massive fraud.
Financial patrol: The IGF flushes out in industrial quantities duplicates, forgers and cheaters among civil servants and agents of the State! - Scoop DRC (scooprdc.net)
778 million $US per year embezzled from the salaries of agents and civil servants of the State according to the IGF - Kongo Presse
The DRC government and mining sectors are rife with bribes, corruption and extortion. In the last two years alone, dozens of articles have been written on the corruption in the Congo by sources including NGOs, Civil Societies and mining and investment sites. These articles sound the alarm on the corruption in the DRC and its mining sector, including China's influence, mining fraud, money laundering, and extortion.
In April 2023 Media Congo released an article showing the Congo Study Group (GEC) and Ebuteli survey, with the Bureau d’études, de recherche et de consulting international found that the level of corruption has not changed. They found, in some cases the situation had got worse and that more than 77% of the public think that the country is affected by corruption.
In May 2023 the Frazer Institute ranked the DRC 82nd out of 83 countries for attractiveness to investors in the mining sector. Also in May 2023 four of the DRC's main opposition politicians wrote to the IMF, World Bank and African Development Bank, asking them to conduct an audit of their funds in the Congo because they suspected misuse.
In June 2023 the DRC's own National Business Climate Barometer (BNCA) involving 403 companies gave it a 37% success rating. Also in June 2023 the DRC was excluded from the list of investments of the French mining group ERAMET, sighting corruption in the DRC.
In July 2023 non-compliance and flagrant violations of the DRC Mining Code were reported and Congolese civil society organizations and platforms specializing in mining issues (Justicia Asbl, LICOCO, RND Asbl, POM, MDR, GANVE, CDH, ESPOIR ONG, RCEN, CERN / CENCO, TPRDC, MAX IMPACT) have all shown concern.
Also in July 2023 an article in the Africa Report on 4 July shows that a bill for sanctions against corruption in minerals trafficking in the DRC has been introduced in the US. With the appalling working conditions present in the DRC mining sector, and extremely opaque business climate that exists throughout the country, the bill aims to counter these abuses and calls for sanctions, including asset blocks on persons found to have facilitated child and forced labour in the DRC mining sector "including any official of the government of the DRC".
But the corruption is not just in the government and mining sectors, it's in other sectors such as the legal system, administration, police and infrastructure just to name a few. The DRC's own Inspector General of Finance recently stated over 145 thousand cases of civil servants and agents of the state had committed forgery and massive fraud.
Financial patrol: The IGF flushes out in industrial quantities duplicates, forgers and cheaters among civil servants and agents of the State! - Scoop DRC (scooprdc.net)
778 million $US per year embezzled from the salaries of agents and civil servants of the State according to the IGF - Kongo Presse
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