DR Congo Launches Probe into $315 Million Embezzlement at Gecamines from 2012 to 2020

Jan 19, 2025, 04:24 AM

The Democratic Republic of Congo's justice ministry has initiated a probe into the embezzlement of over $315 million from the state mining company Gecamines. This investigation covers the period from 2012 to 2020, during which Gecamines, a company that holds minority stakes in several major copper and cobalt mines, reportedly lost substantial funds due to opaque financial management. The justice ministry's actions follow revelations from the General Inspectorate of Finance (IGF) regarding misappropriated public funds. Justice Minister Constant Mutamba has ordered a judicial inquiry into the matter, which highlights ongoing concerns regarding financial governance and transparency in the country's mining sector.