News / / 05.24.19

The Africa Report: DRC: ex-president Joseph Kabila’s attempt to buy Congolese banks

“Kwanza Capital”: the name might not speak to most Congolese. But according to the American NGO The Sentry, co-founded by actor George Clooney, this company is at the heart of an attempt led by the Kabila clan to take control of several Congolese banks between 2013 and 2017, when Joseph Kabila was still president of the Democratic Republic of Congo.

According to The Sentry’s report, the Kabila family first tried to take control of the Banque Commerciale du Congo (BCDC), one of the largest banks in Kinshasa, listed on the Brussels stock exchange and majority owned by Belgian entrepreneur George Forrest. “The Kabila family and its allies, operating through an intermediary, first made Forrest an offer for $50 million in 2013 for his family’s shares,” writes The Sentry…

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