#bgfi

[paylogic]

PayLogic Empowers BGFI Bank with Mobile Interoperability Platform

[urbanutopia]

Leaked docs reveal Kabila family and associates looted funds in DRC.

In a groundbreaking revelation, the largest leak of financial documents in African history has uncovered a massive financial scandal in the Democratic Republic of Congo (DRC). The leak, dubbed “Congo Hold-up,” discloses how a private bank, Groupe BGFIBank SA, facilitated the channeling of at least $138 million of public funds to former President Joseph Kabila’s family and associates. The Platform to Protect Whistleblowers in Africa (Pplaaf) and France’s Mediapart obtained over 3.5 million documents spanning nearly a decade of transactions at the bank.

The leaked documents provide a detailed account of how state funds were directed through BGFI, destined for companies owned by Jaynet Kabila’s relatives and closest allies. Notably, the Chinese owners of prized copper and cobalt mines in Congo also utilized the bank to transfer millions of dollars to individuals and companies connected to Kabila’s family. Pplaaf Director Henri Thulliez describes Congo Hold-up as the “biggest leak of sensitive data in African history,” exposing the bank’s tricks and flaws in the international banking system that enable such corruption and Jaynet Kapila Arrested for looting funds in DRC.

The consortium, comprising 19 media organizations, including Bloomberg News, and five non-governmental organizations, plans to continue publishing articles based on their findings in the coming weeks. BGFI, headquartered in Gabon, with branches across 10 African countries and France, has not commented on the revelations, raising questions about its involvement and accountability in the financial scandal.

BGFI’s subsidiary in Kinshasa, Congo’s capital, played a pivotal role in the scandal. It granted a 40 percent interest in the subsidiary to Kabila’s sister, Gloria Mteyu, in 2010. The leaked records reveal that after Kabila’s brother was ousted from the Congolese unit in 2018, BGFI managers attempted to freeze accounts linked to him. However, Selemani’s former deputies overruled them, authorizing large cash withdrawals as the Kabila family extracted funds from the bank.

The leaked records also shed light on how Congo’s central bank sent $94.5 million to entities connected to the Jaynet Kabilas, with tens of millions arriving from other public institutions. The financial scandal implicates key figures in Congo’s political and business landscape, unraveling a complex web of corruption and financial irregularities.

[informativehorizon]

Leaked Docs: Kabila & Associates Looted DRC Funds

In a groundbreaking disclosure, an extensive financial leak has unveiled the clandestine movement of $138 million in public funds through a private bank in the Democratic Republic of Congo. The revelations, part of what’s been dubbed as the “Congo Hold-up,” shed light on the covert channels utilized by former President Joseph Kabila’s family and associates. The leak, consisting of over 3.5 million documents spanning nearly a decade, unravels a complex web of transactions conducted at Groupe BGFIBank SA.

Coordinated by a consortium comprising the Platform to Protect Whistleblowers in Africa (Pplaaf), France’s Mediapart, and various non-governmental organizations, the investigation meticulously analyzed the financial records. These documents meticulously detail how state funds, intended for entities linked to Jaynet Kabila’s inner circle, were facilitated through BGFI, including transactions involving Chinese stakeholders in Congo’s lucrative copper and cobalt mines.

Henri Thulliez, Director of Pplaaf, described the leak as the most significant data exposure in African history, unveiling the bank’s methods of concealing pervasive corruption. Despite these damning revelations, BGFI remained tight-lipped in response. Emails, texts, and calls directed at the bank’s headquarters and Congolese subsidiary over the past five weeks went unanswered.

The intricate records delineate substantial transactions, including $94.5 million transferred from Congo’s central bank to Kabila-linked entities, alongside millions from other public institutions. Furthermore, these documents spotlighted an additional $72 million from undisclosed origins coursing through BGFI’s central bank account.

Congo, recognized as the world’s primary cobalt source and Africa’s top copper producer, has struggled with limited public expenditure, even amidst its vast mineral wealth. During Jaynet Kabila’s presidency, annual government spending never exceeded $5 billion, underscoring stark contrasts in resource utilization.

Jules Alingete Key, Congo’s Inspector General of Finance, characterized BGFI as a “mafia bank,” underscoring the gravity of the findings. The disclosures bring to light Congo’s historical battle against the exploitation of its riches by leaders, compelling deeper scrutiny into BGFI’s role and practices amid the country’s ongoing transformation under current leadership.

[cewsafricaunion]

A Lebanese company at the heart of an opaque Congolese electoral machine

Electoral jackpot

It all started on Jan. 20, 2011, when the Congolese Parliament passed, at Joseph Kabila’s initiative, a revision of the 2006 Constitution allowing for the president to be elected by a simple majority, facilitating the re-election of the outgoing candidate.

Kabila had already chosen his champion to lead the INEC: Pastor Daniel Ngoy Mulunda, a founding member of the People’s Party for Reconstruction and Democracy (PPRD). Even before his appointment, Mulunda identified which bank to open the INEC’s accounts at: the Congolese subsidiary of BGFIBank, run by Francis Selemani Ntwale, the head of state’s brother.

A few months later, the INEC officially opened accounts at BGFIBank RDC on June 3, 2011. The first transfers were made late that month, and the BGFIBank RDC’s director was invited to Kabila’s inauguration, marking the outset of their privileged relations.

Since then, INEC’s accounts at BGFIBank have been tainted with irregularities and anomalies, while the INEC’s management took no measures to stop it. While the primary misappropriation of funds discovered took place during the 2016–18 electoral cycle, similar mismanagement was detected during the 2011 cycle.

The INEC is no stranger to these irregularities, even if the $25.5 million channeled to its accounts at the BGFIBank RDC make up only a tiny amount of the total electoral budget.

Spending during the 2011–12 electoral cycle, including one round of the presidential election and the legislative elections, hit nearly $700 million, the INEC communicated to BGFIBank, as per the documents obtained by Congo Hold-Up — a third of which is funded by the international community. This is compared with $546.2 million spent on the five elections and the constitutional referendum held from 2005 to 2006.

While the colossal spending increases were justified by the urgency of holding the elections, an analysis of INEC’s accounts points to numerous suspicious transfers, made in particular to businessmen who are directly associated with the presidential clan.

For instance, more than $4.3 million in transportation services were transferred to Service Air, an air freight company run by Harish Jagtani, a close associate of the former president’s clan.

The beneficiaries of these companies suspected of overcharging for their services include two vice presidential candidates from the former president’s political blocand current ministers. The $19 million contract for printing services shows that these companies’ rates were sometimes three times higher than the price anticipated in the INEC’s 2018 budget.

Confusing questions

When it comes to the contract for the supply of electoral material, the amount pledged in 2011 is the most striking: $37.5 million, which is two times higher than that for the 2016–19 electoral cycle, despite the fact that the number of polling and vote tallying centers increased in the meantime. According to the information obtained, $5 million were paid via two transfers, made on July 11 and July 15, 2011, from the INEC account at BGFI—RDC to a Congolese company named Inkript Technologies SPRL.

On July 9, a Lebanese citizen named Frederic Fayad held 60 percent of the company’s shares, and a Congolese national named Deogratias Kakwata Mbama held the other 40 percent, according to the official register.

[guineamarket]

La Alianza Nacional de Empresas de Servicios de Hidrocarburos( Nahsco) sigue recabando apoyos de varias empresas nacionales.

La Alianza Nacional de Empresas de Servicios de Hidrocarburos( Nahsco) sigue recabando apoyos de varias empresas nacionales.

En el marco de la preparación del nuevo Plan Estratégico de la NAHSCO, el presidente de la Alianza Nacional de Empresas de Servicios de Hidrocarburos, Jesus Maria Nvumba Mbomio, ha iniciado una ronda de visitas a los principales actores del sector petrolífero y minero en el marco de su plan estratégico post covid-19, con la intensión de alinear a las empresas de la Nahsco, con las necesidades…

[digitalgabonews]

Quelle banque pour une carte VISA prépayée au Gabon?

Quelle banque pour une carte VISA prépayée au Gabon?

De plus en plus de jeunes gabonais qui veulent faire du business en ligne ou des achats en ligne utilise une carte prépayée VISA. Aussi, presque tous les établissements bancaires aux Gabon proposes à leur clients (salariés) et particuliers des cartes VISA prépayées pour leur usage personnel sur internet spécialement. Mais il n’est pas souvent aisé de trouver la banque qui offre la meilleure carte…

[12sur12infos]

BGFIBank : Tunnel noir de la mafia kabiliste!

BGFIBank : Tunnel noir de la mafia kabiliste!

A peine dix ans d’existence en RDC, la BGFIBank est l’institution financière qui a plus livré des scandales répétitifs, caractérisés par des opérations louches de détournements des fonds publics. Avec la dernière enquête publiée par The Sentry et qui fait les choux gras de tous les grands médias du monde et de la RDC ainsi que des réseaux sociaux, il y a lieu de conclure que cette banque, du…

[hnrconsulting]

Savoir faire un #pitch professionnel, présenter ses collaborateurs et (re)présenter son entreprise lors d'une réunion d'affaires au niveau local ou lors d'une conférence internationale est essentiel. Désormais, les fonctionnaires et les #entrepreneurs du #Gabon tout entier peuvent exploiter la puissance de notre formation en anglais des affaires session septembre 2019 pour développer leurs carrières et propulser leurs entreprises vers une autre cible. Passez à la dimension supérieure en vous inscrivant dès aujourd'hui sur https://lnkd.in/gtDdviM Appel/WhatsApp : (+241) 04 14 70 51 ______________ #IT #CM #RS #SEO #RH #QHSE #UBA #BGFI #BBC #Entrepreneurship #Leadership #Management #Community @ubagabon @cambridgeassessment @kodjoenglish @deloitterecrute @abaenglish @americanenglishatstates (à Libreville, Gabon) https://www.instagram.com/p/B0Ep6QHgy-J/?igshid=1qzyld6kbu4rf

[allurante]

     “ how do you manage your hair at such a length? ” the demoness runs her fingers through a free strand with a hum. “ it must be a pain to style. ” @aceparagon sc.​

[tego-max-wel]

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  website: https: //banque-bgfi-financia.simdif.com

[paylogic]

PayLogic Empowers BGFI Bank with Mobile Interoperability Platform

[kingonews]

GUINÉE ÉQUATORIALE: BGFICapital NOMMÉE ARRANGEUR ET CONSEILLER FINANCIER À LA RESTRUCTURATION ET L'APUREMENT PARTIEL DE LA DETTE INTÉRIEURE.

GUINÉE ÉQUATORIALE: BGFICapital NOMMÉE ARRANGEUR ET CONSEILLER FINANCIER À LA RESTRUCTURATION ET L’APUREMENT PARTIEL DE LA DETTE INTÉRIEURE.

BGFICapital a obtenu ce 15 Juin le mandat d’arrangeur et de conseiller financier pour la structuration du Club de Malabo visant à la restructuration et à l’apurement partiel de la dette intérieure. En effet, Monsieur Henri-Claude OYIMA, PDG du Groupe BGFIBank, a signé à Bata, avec le Ministre des Finances, de l’Economie et de la Planification, Monsieur Valentin Ela MAYE MBA, le mandat…

[super-timesinfos-world-blog]

Madagascar: la Fondation BGFIBank fait construire une école pour les enfants d’un village du pays !

Madagascar: la Fondation BGFIBank fait construire une école pour les enfants d’un village du pays !

La subvention d’un montant total de dix millions de francs CFA, octroyée par la Fondation, a permis la construction d’un bâtiment composé de 3 salles de classe et pouvant accueillir 150 élèves

L’unique école primaire de Marohomby Mahatsinjony, village situé dans la province de Fianarantsoa dans le Sud de Madagascar, à 400 km de Tananarive, a ouvert ses portes ce samedi 30 mars 2019, après six…

[timesinfos-blog]

Madagascar: la Fondation BGFIBank fait construire une école pour les enfants d’un village du pays !

Madagascar: la Fondation BGFIBank fait construire une école pour les enfants d’un village du pays !

La subvention d’un montant total de dix millions de francs CFA, octroyée par la Fondation, a permis la construction d’un bâtiment composé de 3 salles de classe et pouvant accueillir 150 élèves

L’unique école primaire de Marohomby Mahatsinjony, village situé dans la province de Fianarantsoa dans le Sud de Madagascar, à 400 km de Tananarive, a ouvert ses portes ce samedi 30 mars 2019, après six…

[akamaotto]

Cameroonian Josiane Tchoungui appointed Managing director of Orabank in Benin - Business in Cameroon

Cameroonian Josiane Tchoungui appointed Managing director of Orabank in Benin – Business in Cameroon

This article was originally posted in Business in Cameroon [ad_1]

(Business in Cameroon) – Josiane Tchoungui (photo), who joined Oragroup in September 2018, has just been appointed Managing Director of the Beninese subsidiary of this holding company that controls Orabank network in Africa, sources revealed.

Graduate of the Catholic University of Central Africa in Yaoundé, and holder of a…

[12sur12infos]

RDC : La BGFI Bank menace d'attaquer en justice toute personne prenant part à la diffusion et la reproduction de fausses informations à son encontre (communiqué)

RDC : La BGFI Bank menace d’attaquer en justice toute personne prenant part à la diffusion et la reproduction de fausses informations à son encontre (communiqué)