Congo Losing $3.7bn to Gertler, claims Report
May 12, 21
(IDEX Online) - The Democratic Republic of Congo (DRC) stands to lose at least $3.71bn from "suspect mining and oil deals" with the diamond tycoon Dan Gertler, according to claims by the civil society coalition Congo is Not for Sale.
The country - one of the poorest in the world - has lost $1.95bn in revenue since 2013, according to the society's analysis of publicly available financial data, published today in a 28-page report.
It says a further $1.76bn in future royalty payments to his companies will be lost between now and 2039 if nothing is done.
Gertler, an Israeli citizen, has always strongly denied corruption allegations against him and insisted he has brought huge investment to the DRC.
Congo is Not for Sale is calling on Congo's President Felix Tshisekedi to investigate all its deals with him.
"The revenue that Congo is losing could be used to build schools, pay teachers, provide basic healthcare or pave more roads, but instead it is lining the pockets of a private businessman," said Jean Claude Mputu, from the Congo is Not For Sale coalition.
"President Tshisekedi's government can step in to halt the future losses and reverse this colossal loss."
The Congo is Not for Sale coalition says it wrote to Dan Gertler on 2 April 2021 with the main findings of the financial investigation requesting comment, clarifications and/or any additional information. He did not respond.
IDEX Online has contacted his office for a comment.
Pic shows illustration from the Congo is Not For Sale report