Musings From Abroad

UN testimony claims Congo rebels earning $300,000 per month in seized mines

Published

3 days ago

October 1, 2024

The United Nations Security Council heard testimony on Monday indicating that rebels in the eastern Democratic Republic of the Congo have established a firm hold over the Rubaya coltan-mining region and are imposing a production tax projected to bring in $300,000 per month.

After fierce fighting in April, the M23 movement—a Tutsi-led group allegedly supported by Rwanda—took control of the region, which produces minerals needed in computers and smartphones.

The head of the United Nations mission in Congo, Bintou Keita, informed the Security Council that more than 15% of the world’s supply of tantalum comes from trading in minerals from the Rubaya region.

The United States and the European Union regard tantalum as an essential material, with Congo being the world’s biggest producer.

“This generates an estimated $300,000 in revenue per month to the armed group,” Keita said. “This is deeply concerning and needs to be stopped.”

“The criminal laundering of the DRC’s natural resources smuggled out of the country is strengthening armed groups, sustaining the exploitation of civilian populations, some of them reduced to de-facto slavery, and undermining peace-making efforts,” Keita added.

Most of Congo’s mineral riches are found in its east, an area beset by resource and territory disputes between multiple armed groups. Ever since the M23 insurrection reappeared in March 2022, things have gotten worse.

Since the conflict resumed, many have died and over a million people have been displaced.

Manufacturers are being closely watched to make sure that metals from conflict areas, like the eastern Congo, are not utilised in items like laptops and batteries for electric vehicles.

According to Keita, armed groups have become more powerful financially and militarily as a result of their transformation into militarised businesspeople in response to the boom in mining earnings.

“Unless international sanctions are imposed on those benefiting from this criminal trade, peace will remain elusive, and civilians will continue to suffer,” Keita said.

Musings From Abroad

Nigeria, World Bank partner on maritime development

Published

17 hours ago

October 3, 2024

Ifeoluwa Dada

The World Bank Group wants to boost Nigeria’s maritime sector alongside the Ministry of Marine and Blue Economy.

An advisor to the Minister of Marine and Blue Economy, Ismail Omipdan, on Wednesday, said the action was in keeping with the ministry’s strategy.

Ms. Lia Sieghart, leading a World Bank Group team on a courtesy visit to blue economy minister Adegboyega Oyetola, said the visit was to discuss the government’s strategy for a sustainable and integrated blue economy and sustainable fisheries.

“It is to also identify areas where the World Bank can provide expertise and knowledge,” she said.

She praised President Bola Tinubu for creating the ministry, saying it showed the Nigerian government wanted to promote the sector.

Oyetola thanked the delegation for visiting and briefed them of the country’s marine and blue economy efforts.

He told the team the ministry prioritises fishery and aquaculture development.

“Fishery is the flagship of ministry. We are doing everything to regulate the activities in that sector. We are designating terminals for fishing activities. We want to do a sustainable fishery program on a sustainable basis and make it attractive to the youth.

“We intend to reduce importation and encourage production here, in Nigeria. Therefore, we are willing and ready to have you support our efforts, to realise our vision for the ministry,” Oyetola added.

Musings From Abroad

Angola’s Isabel dos Santos loses asset freezing appeal

Published

3 days ago

October 1, 2024

Ifeoluwa Dada

On Monday, Angolan millionaire Isabel dos Santos lost her appeal to overturn a London High Court judgement freezing up to 580 million pounds ($778 million) of her assets.

Angolan telecoms firm, Unitel, is suing Africa’s first female billionaire, whose father Jose Eduardo dos Santos ruled Angola for 38 years until 2017.

Unitel received a global freezing order on dos Santos’ assets in December, and the Court of plea rejected her plea on Monday.

In Angola, Dos Santos has been accused of corruption for years. She denies the charges and claims a long-running political vendetta.

As a Unitel director in 2012 and 2013, she lent money to separate Dutch business Unitel International Holdings (UIH) to buy telecom company shares. Unitel is suing her.

Dos Santos owns and controls UIH, the Court of Appeal ruled. Since Unitel and UIH are unrelated, dos Santos resigned as a director in 2020.

Unitel’s High Court lawyers claimed 300 million pounds in unpaid loans.

Dos Santos, who claims to be the victim of a “campaign of oppression” by Angola, alleges Unitel is responsible for UIH’s incapacity to repay the loans due to its alleged role in Angola’s unlawful seizure of UIH assets.