All the President's Wealth

The Kabila Family Business

July 2017

CAP VERS L'EMERGENCE LE CONGO Révolution ECT DEBOUT

Congo Research Grouped'Étude Pulitzer Center Group sur leCongo ONCRISISREPORTING Cover picture: Reuters / Robert Carrubba Layout and design: Garage East Copyright © Congo Research Group 2017 Executive Summary

The Democratic Republic of Congo is entering that extend for more than 450 miles along its third decade of armed conflict . Throughout Congo's southern border with this period corruption has been tightly linked to Kabila , the president's sister and a member conflict .' The 2006 Congolese constitution was of parliament , owns a stake in the country's created in the aftermath of thirty -two years of largest mobile phone network , while their 80+ dictatorship , during which President Mobutu brother Zoé , who is also a parliamentarian , Companies Sese Seko used public funds to enrich himself and owns companies that have been contracted to & businesses his allies, and sets up safeguards to prevent the work on some of the world's richest mineral abuse of public office for personal enrichment . deposits. The network of family companies This report by the Congo Research Group (CRG) has the following characteristics : at New York University's Center on International 71,000hectares . The businesses are invested inalmost every part Cooperation is the first in a series of investigations of farmland by CRG into links between politics and business in of the Congolese economy, including farming, Congo,aiming to promote greater accountability mining,banking,real estate, telecommunications and to bolster the oversight enshrined in the and airlines. constitution.It examines the business networks of the country's most powerful elected official , The value oftheir assets isdifficult to determine . diamondpermits President Joseph Kabila , and his family . However, a conservativereadingof public along450 milesof documentssuggeststhattheircompanieshave Congo'sborderwith Our researchover the past 20months, supported had hundreds of millions of dollars in revenues Angola by the Pulitzer Center on Crisis Reporting, shows since 2003 , and that they own assets that are that the Kabila family either partially or wholly easily worth many tens of millions of dollars . owns more than 80 companies and businesses in the Congo and abroad. President Kabila • Over the years, some of the businesses have directly and through a company he owns with benefitted from Congolese government contracts, 4.8% stake in one his children holds more than 71,000 hectares as well as from contracts with the World Bank,the ofthe country's (175,444 acres) of farmland. companies U.S. Overseas Private Investment Corporation, largestmobilephone that belong to the family own diamond permits and the UnitedNations. networks

1 Allthe President'sWealth

The KabilaFamilyBusiness

The lack of fiscal transparency in the Congo The Kabila family's investments will likely and in foreign tax havens where some of the play a role in their decision -making during the companies are registered formed a significant current political transition . While Kabila’s second obstacle to our research . While President mandate ended in December 2016 , under the Kabila has reportedly declared his assets to terms of a deal signed with the opposition he the judiciary as required by the constitution , will stay in power until the next elections , which his submissions have not been made public , are supposed to be held before the end of 2017. rendering it impossible to verify their accuracy There is no requirement in the Congo to While this report examines the assets of the publish property taxes or corporate taxes, presidential family, it is clear that members of making it difficult to know how much the the elite on all sides of the political divides have family's companies are worth. abused their office for personal enrichment . While most international interventions inthe Congo have This report is limited to our investigation placed an emphasis on negotiation and political into the Kabila family businesses and is not compromise ,they have failed to hold elites or the intended to be a complete accounting of the ons they work with accountable for this kind family's various revenue streams . We also of corruption . do not conclude that the family's holdings are necessarily illegal or corrupt . However, some of the family's holdings may violate Congolese law or codes, while other ventures raise serious questions of conflicts of interest:

Congo's Ministryof Mineshas granteda company controlled by the president's sister, Jaynet Kabila , more mining permits than allowed under the country's mining Business linked to the Kabila family have Companies belonging to Zoé Kabila have made benefitted from millions of dollars from mining joint contracts with : ventures and subcontracts , including at Sicomines , part of Congo's $ 6.2 billion minerals -for infrastructure deal with

Some of the family's businessassets are WORLD BANK GROUP protectedor overseenby membersof the RepublicanGuard, which is likely outside the legal mandateof the force.10 OPIC Familycompanieshavebenefittedfromlarge statecontracts, includingfor the issuingof drivers licenses.

• At least one family company was part of a UN controversial 2011 copper mining deal that led the International Monetary Fund to cancel its half- UnitedNations billion dollar loan program PeacekeepingMission with

2 Recommendations

This reportexaminesthe businessactivitiesof All mining , oil, hydropower , and someof the mostpowerfulpeoplein the country timber contracts , memoranda of and proposesconcretemeasuresthat can be understanding , amended contracts , and takenby Congoleselegislatorsandmembers other relevant documents related to of governmentto enhancetransparency.These natural resources should be published measuresinclude: as required by government decree.16

All public officials should declare their assets governmentshoulddigitizeall as required by the 2002 code of conduct for landholdingand incorporationrecordsand public officials. make them readilyavailableto the public.

Parliamentshould : The ministry of mines should ensure that the 2002 mining code is applied to -pass legislation requiringall asset all companies and individuals equally , declarations by public officials to be made especially in terms of the number and size public, as is required in other countries; of permit holdings allowed and the right to -pass a law on access to information, which declare force majeure , which exempts permit would codify the right to informationand holders from their obligations only under increasetransparencyinto the business extraordinary circumstances . dealings of the government and all public officials ; 15 The ministry of mines should make public -pass a law requiring charitable foundations all granted applications for force majeure, and non- profit organizationsto publish along with the justification for granting statementsof their finances, includingtheir designation sources of funding. Membersof the RepublicanGuardshould constitutionalcourt shouldclarify the be withdrawnfrom sitesthat are linked to regulationsin the constitutionand legal code the businessesof the presidentialfamily, regardingconflictsof interestfor public especiallyminingsites, unlessthere is an officials, includingthe president. overridingnationalsecurity interest.

PresidentJoseph Kabila, Zoé Kabila, and Jaynet Foreign investors in the Congo dealing Kabila should placetheir privatebusiness with Politically Exposed Persons should interests in an independentlymanagedtrust to be requiredto publish the financial avoid possible conflicts of interest. terms of their deals with PEPs .

3 All the President's Wealth

The Kabila Family Business

Methodology

This report relies almost exclusively on publicly available the Kabila family's business interests . For example , documents . We obtained land titles , incorporation CRG did not include several large ranches, buildings , documents , board meeting minutes , mining permits , media companies , and business ventures that are widely and shareholder agreements through Congolese courts believed to belong to the family , as we could not obtain and registries throughout the country and online . the relevant documentation to prove ownership . While in principle most of these documents should be available to the public " and all claims regarding Companies are also dynamic and their ownership structure company ownership here are backed up by official can change. Some companies listed in this report no longer documents or company websites in reality many operate; a few may no longer have ties to the presidential company files were incomplete or could not be found . family . When company ownership is first listed , it includes In several cases registry workers would not release at least one date , usually the most recent , on which that certain filings ,saying they were too sensitive . ownership was noted in official documents . CRG has tried to find the most recent shareholding , but publicly available CRG used these documents to amass a digital archive company documents are not always updated . This means that could be searched for links to the family . Those the current shareholding could be different than the links were then verified through interviews or other shareholding listed in this report. documents . Excerpts from some of those documents are available on the CRG website ( allthewealth . We have includedcompanies, businesses, organizations congoresearchgroup.org ) . The remainder is on file at and assetswith currentor previouslinksto the family CRG . Some responses may be published on the CRG throughownershipor directorshippositions. website at the time of publication or later . Companies that are no longer operational or that are The investigation coincided with a Bloomberg News no longer directly linked to the family are still included investigation into the Kabila family's assets.18 here, for several reasons . Even companies that went along with the Pulitzer Center on Crisis Reporting , out of business may have been profitable or helped helped fund one of the Bloomberg journalists . The accumulate wealth . Dormant companies may also have Pulitzer Center also provided funds for the above assets , liabilities or debts that could retain value . For mentioned website created in partnership with CRG instance , a dormant airline company could have valuable that presents documents and many of the findings of licenses , buildings , or planes that could be resold . Or if a this report in a visual format . company went bankrupt because a contractor never paid a bill , that debt could still be sold or held and repaid in EstablishingrelationshipsbetweenKabilafamily the future . membersis difficult, as explainedbelow. Interviews with dozensof peoplewho have had personaland CRG wrote to most of the people and companiesnamedin professionalrelationshipswith the family helpedto this reportdirectlyor throughrepresentatives, including establishthe listof familymembersused in this report. to PresidentJoseph Kabila and mostof his siblings, to ask Erik Kennes' EssaiBiographiquesur Laurent- DésiréKabila for commenton the claims made here. In some cases, we was alsoan essentialsource.19 were unableto findthe relevantcontacts. The responses we receivedare referencedand referredto throughout Because this report relies primarily on publicly available the text of the report. Furtherdetails of the responseswe sources , it is inevitably an incomplete assessment of receivedcan also be found on the CRG website. Contents

ExecutiveSummary 1

Recommendations 3

Methodology 4

PARTI Overviewand legalissues 6

Chapter : From poverty to riches : A family history 6 Chapter II: The family business today Chapter III: How much are the companies worth? 10 Chapter IV : Is this Legal? 10

PART 2 : The family businesses 12

Chapter V : President Joseph Kabila & Family 12 1. Properties owned directly by Joseph Kabila 12 2. First Lady Marie- Olive Lembe Di Sita and children 14 3. Jaynet Désiré Kabila Kyungu 17 Zoé Kabila Mwanzambala 24 Chapter : Other Family, Other Investments 27

Analysis 30

ANNEX A : Summary of Values and Company Revenues 31 ANNEX B : Relevant laws and regulations 32

Endnotes 34

5 All the President's Wealth The Kabila Family Business

PART 1

Overview and legal issues

CHAPTERI FROMPOVERTYTO RICHES: A FAMILYHISTORY

The Kabila family's business interests are vast and interlinked . While some family members have developed apparently autonomous companies , many of the largest endeavors are collaborative , involving several family members . In order to understand these dynamics , it is useful to examine their roots in business in the Congo .

Laurent - Désiré Kabila moved his family to Tanzania in the 1970s , after years of leading an unsuccessful rebel movement in Fizi, South Kivu , against Zairean dictator Mobutu Sese Seko . Laurent - Désiré Kabila was a wanted man, and the Kabila family lived discreetly in exile in Uganda and Tanzania through the 1990s.20

Family members used assumed names often versions of one of Laurent-Désiré's pseudonyms , Francis Mtwale and ran several small businesses including restaurants , bars, and markets . They imported food, and imported and exported other commodities from Congo through Dar es Salaam's ports . The family was protected by the Tanzanian government , and moved from house to house in the city's affluent neighborhoods to escape detection by Mobutu's intelligence agents . In the Mbezi Beach neighborhood , they held a large plot of land (which now lies in disrepair ) called Hewa Bora, after the rebel base in South Kivu where Figure 1 The Kabila family in Dar es Salaam . Laurent- Désiré trained his troops and where his Their mother Sifa Mahanya in the middle, the twins , Jaynet Désiré Kabila Kyungu and Joseph twinsJosephandJaynetat thefarright Kabila Kabange were born on 4 June 1971 .

6 1

Gloria, Masengo, and Make Mokolo wa Ngoy (also known as Makie Wangoi ) . Interviews with family members and longtime personal , political and business associates of the family have confirmed their identities as close relatives of Joseph Kabila report also covers assets linked to spouses or children of these family members .

It is difficult to assess the family's wealth before 1996; according to two people who knew the family in Dar es Salaam , as well as according to a Kabila biography , Laurent -Désiré Kabila struggled financially , although he was able to pay for private schooling for several of his children.25 In an interview in 2006 , Joseph's mother said : " If life in the bush (dans le maquis ) was difficult , in Tanzania it was much worse . We had nothing... a small field and sold my vegetables at the market , like all poor Figure2 | Kabila family Duringtheir time in Tanzania, the Kabila family African women ." 26 landin Dar es Salaam. grew in size and complexity . Laurent -Désiré's A sign on the wall says wife , Sifa Mahanya , ran the It is clear that the family's wealth increased " Hewa Bora .” household , and gave birth to a number of other children over dramatically after they arrived in power.In1996, the next twenty years . Another boy, Selemani , a regional coalition led by Rwanda, Uganda and became an adopted son after his father , one of Angola formed to overthrow Mobutu . It appointed Laurent- Désiré's rebel comrades , was killed. Laurent-Désiré Kabila as the spokesperson and then the leader of the Alliance des Forces In his travels around the world seeking support Démocratiques pour la Libération du Congo - Zaire for his fight against Mobutu, Laurent- Désiré (AFDL ), which ousted Mobutu from power in reportedly had children with a number of other May 1997. When Laurent- Désiré Kabila became women.22 While some of those women and president , he immediately used state assets to children still claim links to the Tanzania - based help repay allies for their contributions to the war, family led by Mama Sifa, as his wife is known , in particular through a business called Compagnie most are not part of the core group surrounding mixte d'import -export, or Comiex - Congo , that the current Congolese president . Officials in partnered with other companies in banks, mines , Congo often complain about people who claim and fuel distribution deals.27 Congo's former blood links to Laurent- Désiré or Joseph Kabila or auditor general said in 2007 that Comiex " was who invoke the Kabila name to assert their rights a private trust run by people close to President to assets or businesses , or to avoid taxes.23 Kabila , but entirely created with state assets "28 A parliamentary investigation in 2005 produced In the interest of space and clarity, this report evidence of $31 million in state funds transferred focuses on the three main political figures in to Comiex , much of which was sent to a bank the Kabila family Joseph, Jaynet, and Zoé account in Rwanda. Comiex also held around and seven other relations who are generally 49 % of shares in a company that held the rights understood to have grown up with Laurent to diamond mining concessions covering 274 Désiré Kabila and Sifa Mahanya in Congo and square miles and with reserves reportedly worth Tanzania: Josephine, Sissy , Cecylia, Selemani, $1.63 billion.29

7 All the President's Wealth The Kabila Family Business

The ownership and the full range of she incorporated a now defunct company Several other companies belonging Comiex's investments and the extent of in Texas , and, with her brother Zoé to family members obtained permits its involvement in Congo's economy are Kabila, founded another business around the diamond -rich regions of still unknown to the public. Almost none in Tanzania that became involved Mbuji-Mayi and Tshikapa. of the publications from the government's in mining, gemstones , commodity official registry known as the Journal trading , a travel agency , foreign Family members then invested in Officiel —from that period are available . exchange , and real estate, according transportation , infrastructure , and According to the 2005 parliamentary to its incorporation documents .34 farming , sectors in which demand investigation , the company was dissolved began to soar following the unification in 2003 and its assets were never fully By the time a peace deal was signed of the country . Grand Congo created recovered by the state . 30 to end Congo's wars in 2002 , the Wimbi Dira Airlines in 2003,37 while country's economy was ruined and Zoé Kabila's Number One Contracting After Laurent - Désiré Kabila's its infrastructure destroyed . After Company became the country's fourth assassination in January 2001, Joseph Kabila became president of largest road builder for a time , according Joseph Kabila became president ; his Congo's transitional government in to a World Bank report siblings - in particular his twin sister 2003 , Jaynet and Zoé Kabila and other Jaynet Kabila and his brother Zoé family members became involved in President Kabila himself appears in Kabila— became active in business . the diamond industry , which was by far government commercial records found During this period, their business the country's largest source of export by CRG soon after the 2006 elections , decisions began to raise more serious revenue at the time . the country's first multiparty vote in questions of conflicts of interest.31 forty years . On 22 December 2008 , the Two companies that are majority president directly obtained at least six Jaynet Kabila began setting up a series of owned by Jaynet Kabila and other plots of land , a total of 5,700 hectares, companies around the world soon after family members Grand Congo in Katanga province. The president her father's death . In June of 2001 she (now known as Acacia ) and Kwango continued to accumulate more land used the Panamanian law firm Mossack Mines - obtained nearly 100 exploration through his agricultural company, Fonseca to create a shell company in permits along the country's diamond Ferme Espoir ( Hope Farm), and added the South Pacific island of Niue through rich border with Angola.35 They tried to more than 60,000 hectares ( 148,263 which she would soon own a stake in the sign deals with several diamond traders acres) of agriculture and grazing land Congolese subsidiary of mobile phone and major firms , including De Beers , the when the company bought the Société operator Vodacom . months later world's biggest diamond company.336 des Grands Elevages du Bas- Congo, a

1996 Laurent-Désiré Kabila becomes leader of Alliance des Forces Démocratiques pour la Libérationdu Congo Zaire (AFDL )

4 June 1971 26 June1979 Jaynet Désiré Kabila Kyungu and Zoé Kabilabornin Dares JosephKabilaKabangeborn. Salaam , Tanzania

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livestock company , during his second airlines , hotels, and companies that businesses . Almost none of the locations term in office. deal in various kinds of trade . There are had any sign suggesting a company is companies that mine for diamonds , gold, based inside . Company documents reveal a Meanwhile, the Kabilas branched out. copper and cobalt . President Kabila and varying degree of caution in concealing the One sister took a 40% stake in a bank his family have business and financial identity of the owners . Some investments that is now run by brother Selemani. interests in almost every part of Congo , use shell or holding companies that A company owned by Zoé Kabila as well as real estate interests in conceal the personal involvement of family made millions consulting for a publicly South Africa and Tanzania . Companies members, such as Keratsu or Development traded gold miner.42 And, as the price use addresses as far from Congo as Trade and Investment Company SA.47 of diamonds fell and Congo's copper Panama , Niue, and Luxembourg . One In incorporation documents and board and cobalt industry revived, the family family business sold copper on Alibaba , meeting minutes for these companies , companies changed their focus again . China's version of Amazon . family members often use less common By 2010, Acacia began looking into versions of their names . For example , mining copper on a permit owned by It is not clear what many of the Jaynet Kabila is often known as Jaynet state -owned Gecamines . Other family family's companies do. Their articles of Ursula Kyungu.48 Zoé Kabila has at companies are also involved in the association(statuts) are often wide used the name Zoé Mtwale, while at copper and cobalt industry, which is now ranging. For example , the incorporation other times he has used his post-name, Congo's most valuable export earner.43 documents of Ferme Espoir, which Mwanzambala , identify himself.49 In is directlyowned by PresidentKabila one company , Sezo International Trading, and his two children, say the company all four of its original 2003 shareholders , CHAPTERII: not only engages in farming, but including Zoé Kabila, used Francis Mtwale" THEFAMILYBUSINESSTODAY also in mineraland oil exploration.45 as their last name such cases , CRG Another firm , Katanga Premier, which has used dates and locations of birth or The presidential family's business was founded in 2012 by Zoé Kabila further documentation to confirm the interests today are broad in terms of and his son, describes as a identities of these family members . geographic reach and the sectors it has telecommunications, manufacturing, invested in.44 Members of the family mining, customs, cement, travel, Finally, it is clearthat businessis seen as a partially or wholly own more than 80 informationtechnology, fast food, real family endeavor. Familycompaniesoften companies and businesses created over estate, brokerage, and architecture holdshares in otherfamilycompanies. the last sixteen years . There are farms , business. CRG visited the addresses Differentcompaniesbelongingto various banks , telecommunications companies , of more than three-dozen of the family's family membersoften list the samefew

May 1997 AFDL ousts Mobutu Sese Sekofrompower.

2006 2011 19 September 2016 January2001 JosephKabila Joseph Kabilaelected Kinshasa rocked by protests Laurent- Désiré electedpresident. forsecondterm. calling for Kabila to step assassinated, Joseph down. 17 people killed. becomes president.

9 All the President's Wealth The Kabila Family Business

addressesas their physicalplaceof business. Oneaddress, 83 Avenue de la Justice in Kinshasa, has at least fourteencompanieslinked to it, and at leastfive familymembersuse it astheir contactaddress.

CHAPTER III: HOW MUCH ARE THE COMPANIES WORTH ?

It is difficult to put a value on the various holdings of the family, almost all of which are private . Few of the Figure 3 83 Avenue de la Justice in Gombe, Kinshasa . companies release financial data in their publicly available documents . Congo's statistical agencies have wealth . We cannot rule out that the makinginvestmentsand accumulating published few production or tax family has other, considerable sources wealth. However, thereare severallaws records for the companies and there of income . In the past, senior Congolese in the Congothat regulatethe business is no legal requirement in the Congo officials used their office to extract activityof all publicofficialsandtheir to publish corporate taxes . bribes . For example , a recent settlement familiesandassociates, andthere between the U.S. Department of Justice , are particularlystrict rulesfor the Mining properties that have not been the Securities and Exchange Commission head of state. explored properly are hard to attach a and the New York- based hedge fund dollar amount to. For example, the Acacia Och - Ziff describes how a Congolese According to the Congolese constitution , and Kwango diamond mining permits , politician received nearly $11 million in a president cannot be involved in which stretch along much of Congo's illicit payments from an Israeli investor52 a professional activity , 56 nor can a border with Angola , could be worth during a three -month period in 2010 and president rent, buy, or lease state billions of dollars or very little, depending 2011.53 In total , Congolese government assets or participate in public tenders on the amount and quality of gems in the officials allegedly received more than for state assets , directly or through area, the cost of extracting them , and the $100 million in bribes between 2005 family members or representatives . A current price of diamonds.51 and 2015, the agreement with the U.S. president must also submit a declaration Department of Justice said.54 addition, to the Constitutional Court of all assets Nonetheless , some public documents a Global Witness report states that at the beginning and end of her or his do give a sense of the revenue flowing at least $ 1.5 billion in potential state mandate.57 a comparison of these through the various assets and their revenue was lost due to dubious mining declarations creates the suspicion of worth . Many of these are detailed in deals between 2010 and 2014, and unjustified enrichment , the matter can subsequent sections of this report, and that senior state officials could have be referred to the Constitutional Court we have summarized them in Annex benefitted from these deals.55 or the Court of Cassation . According to A. They add up to hundreds of millions news reports , President Kabila submitted of dollars and are just a sample of these declarations to the court in 2007 revenues and assets of some of the CHAPTERIV: and 2012.58 family's companies based on publicly ISTHIS LEGAL? available documents . Publicofficials, includingmembersof There is nothing wrong or illegal per parliamentand heads of state, must It is importantnotto conflatethese se with family members of a president adhere59 a code of conduct, which businessinterestswith the family's or parliamentariansowning companies , was passedin 2002and governs

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conflicts of interest . The code also while companies must abide by the directly from the state which might requires an annual declaration of various codes and regulations that be in violation of Article 98 of the assets to a monitoring body called govern particular industries , such as constitution, which states the president l'Observatoire du Code d'Ethique the mining code or rules governing land is not allowed to obtain state assets Professionnelle (OCEP , which was affairs.66 Some companies belonging or was bought from another private created in 2003. While members of to Kabila family members appear to individual.69Companies belongingin OCEP were appointed in 2003,60 the be in violation of the law . According to part to membersof the family have also institution does not appear to scrutinize the mining code, A person and his/ been able to win state tenders, including any of these declarations , according to her affiliated companies cannot hold for issuingbiometric drivers' licenses a Congolese legal NGO.61 While OCEP more than fifty exploration permits ." and for training youth in is active and has a website supported Kwango Mines alone has 53 exploration While parliamentariansare not explicitly by the United Nations Development permits.67 Kwango is controlled by Excel barred from biddingfor state contracts, Program, there is no public indication Holding, which is in turn controlled the status and influenceof the Kabila that they have checked to see which by Jaynet Kabila. family should normally prompt public officials have submitted their additionalscrutiny by parliament or declaration of assets or that they have Tax payments for many of the government agencies issuingtenders verified their contents . mining permits linked to the family because of potentialconflicts of interest have been suspended due to force and their relationshipto the president, It is not clear if national deputies Zoé majeure, which is covered in Article who is prohibitedfrom participatingin Kabila and Jaynet Kabila have made 297 of the mining code and sets tenders directly or indirectly. declarations of their assets . Several strict conditions as to when it can be parliamentarians contacted by CRG declared . In most jurisdictions , the There may also be conflicts of interest were not aware of this legal requirement kind of unforeseen event that would in how members of the Kabila family which is not repeated in the by- laws trigger force majeure includes wildcat obtained ownership of companies , of parliament. strikes, riots, insurrection, civilunrest, shares , or assets in the first place.71 social conflicts , government action Given the lack of transparency in the If they have made these declarations , without legal support , sabotage , country , however, we cannot ascertain none has ever been made public , in natural catastrophe , fire, acts of war how Jaynet Kabila obtained shares in spite of pressure from opposition or circumstances attributable to war . Vodacom Congo, for example , or how parties and Congolese NGOs such as Since the mines ministry's decisions she and her relatives obtained the vast Voix des Sans Voix and Toges Noires.63 regarding force majeure are not made diamond exploration titles along the There is no legal obligation for the public , it is unclear what events border with Angola . content of these declarations to be triggered force majeure. made public, but without access to the Finally , there are limits on how the declarations it is impossible to judge Congolese law governing conflicts President's Republican Guard can be their veracity and the exercise is of of interest is relatively vague . The legally used , according to the 2011 Law little use . According to a World Bank Code of Conduct of Public Officials on the Armed Forces, which limits the survey of 176 countries in 2012 , 43 says conflicts of interest arise from tasks of the guard.72 It says the force can of jurisdictions provide the public with a situation in which a public official of only be used to protect the president open access to public officials ' financial the state has an interest of a personal and distinguished guests of the republic, disclosures.64 In Africa , the practice is nature that influences or appears to presidential facilities , and provide an slowly catching on : South Africa , Cape influence the impartial and objective honor guard and escorts at the level of Verde, Liberia , the Central African exercise of his/ her official functions . " 68 the presidency . It does not say the elite Republic , and Sao Tomé and Principe There are several business endeavors unit is allowed to protect businesses or require public disclosures of assets.65 that deserve legislative and judicial mines belonging to the president's family , scrutiny. Joseph Kabila has been able to as we document below. Congolese public officials are subject obtain a large amount of land ; it is not to the country's civil and criminal laws, clear whether this land was obtained

11 All the President's Wealth The Kabila Family Business

PART 2 :

The family 1 Properties owned directly businesses by Joseph Kabila

All of the companies in which President Kabila has a direct CHAPTER V : stake and for which CRG was able to find documents are PRESIDENT JOSEPH KABILA real estate or farming ventures . He has obtained directly in & FAMILY his name at least 8,633 hectares (21,322 acres) of farm and pasture land in Haut Katanga and Maniema provinces from President Joseph Kabila , his wife the Ministry of Land Affairs.76 In January 2012 , the ministry Olive, and their two children, Sifa and also granted him six plots of unspecified size in Kailo in Laurent Désiré, own a cattle -breeding Maniema province.77 Kailo is the birthplace of Olive Kabila.78 ranch, a poultry farm , and have stakes It is not apparent in the documents obtained by CRG how in a construction company and over the properties are being used . In addition , the president 100 mining permits for diamonds and controls two large agricultural companies , Ferme Espoir and gold. They control a holding company Société des Grands Elevages du Bas-Congo . that leases rental property , owns more farms , and has stakes in an oil-trading a) FermeEspoir company and a former airline.73 President Kabila directly owns 80 % of the agricultural The total size of farm and pasture company, Ferme Espoir, with the remaining 20% owned land owned by the President and his in two equal parts by his daughter, Sifa , and son , Laurent immediate family exceeds 71,000 Espoir directly holds at least ten agriculture hectares (175,444 acres) This permits totaling at least 2,678 hectares (6,617 acres) in the figure does not include properties former Katanga province. Several other farms around Congo whose incorporation or ownership linked to the presidential family are also called Ferme Espoir; documents could not be obtained it is not clear if they are legally part of the same company. by CRG but that according to credible sources are believed to Accordingto its incorporationdocuments, Ferme Espoiralso belong to members of the family . has the righttoexplorefor oil and minerals.

70,000hectaresis a significantamount A websiteto encouragetourismin Katangahas a page offarmlandto own: it is roughlyten dedicatedto one 700- hectare( 1,729acres) part of Ferme timesthe size of the island of Manhattan; Espoir. The descriptionon the websitesays the farmgrows as of 2013, theaveragefarm size in maize, a staple food for manyCongolese, andthat it could the Congowas 1.4 hectares.75 be the second- largestpoultry- raisingfarm in Africa.82

In 2006 , Zoé Kabila's Strategic Projects and Investments ( SPI ) said it would invest at least $15.5 million in industrial agriculture , with most of the money going to Ferme Espoir . It is not clear from available documents if Joseph Kabila owned Ferme Espoir at the time ; it was described as a branch of the company's board minutes .

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Figure 5 President Kabila on Mateba Island in 201689

According to a 2012 promotional video for Olive Kabila's non- profit organization , Initiative Plus OLK , another de Ferme Espoir is located on the Bateke plateau between ayant rapport Jean , Pour direct ou indirect avec social que Kinshasa and Bandundu and has at least 30 hectares pouvant en faciliter la réalisation Kinshasa de la peut moment , le26 L'objet requises 2008 deliberant les conditions Le pour modificationdes statuts of farmland , a chicken and pig farm and 89 hectares of Jean Article forests and fruit trees . According to the video , the farm cours aujour de lasignaturedes presentsstatuts . Ferme de Espoir Ellepourra dissouteentour par générale danslesconditions was created in 1998 and has a small hospital on site for pourlesmodificationsaux les TITRE the local community.83 Josephine Capitalsocial sociales. 26 Hewa er juin 1971 Article5 , le18 par leur septembre , Le capitalsocial est fixe en francs JosephKabila congolaisde cinq cents dollarsaméricains. Il est résidant Colonel Kinshasaau représentéparcinqcentspartssociales valeurnominale b) Société des Comme et de croisement demilledollars Grands Elevages Gombe Boulevard chacune la Article 6 du Bas -Congo, GEL Lesparts socialessont TITRE souscritescommesuit - Kabila 400 sociales( 80 % ) soit USD

JoséphineSifaKabange50 partssociales( 10 % ) soit Article1" 50.000USD est Laurent cadrede sociales( 10 % ) Ferme Espoir also has a 100% stake in the Société des législation lespersonnes USD responsabilitélimitée congolaise, le Espoir Article 7 Grands Elevages du Bas- Congo.84 According to commercial Chaque associé n'est Lesiège Article2 que responsable des engagements de la Bora socialest concurrence de son apport la Provincequartier Lubumbashi, documents from GEL's former owners , the company Katanga Hewa sur peut Kampemba Article 8 transfere tout Lecapitalsocialpeut des autre des augmentéouréduit controlled about 40,000 hectares (98,842 acres) of La associés de la associésdélibérantdans par société modifications lesconditions peutavoirdes République aux statuts requisespourles d'exploitation des Lorsdetoute pastureland for cattle and sheep and around 20,000 localitésouagences, administratifs,des lesconditions augmentationducapital fixe l'étranger ou d'émissiondespartsnouvelles bureauxdans Les associés ont La Article 3 des parts nouvelles. de préférence pour hectares (49,421 acres) of farmland producing maize, agro- sociétéa pour absorbées par Les parts qui n'ont pas la et industrielles, objet les souscrites par desl'exercice du droit de été la les activitésactivitésagricoles, tiers agréés par les préférence peuvent être transformationconservation, de la relatives forestières associés manioc , soy and peanuts . This included Mateba Island activités la , l'élevage, l'environnement commercialisationdes la pêcherie, Article Le produits la Lesparts transport issus des socialessont relatives routier,aérien, jamaisêtre nominatives in the Congo River in Kongo Central province. also fluvialet représentées ellesne peuvent naturelles et la lacustre,les chaqueassocié pardestitres recherche activités ausiège seulementdu négociables. Letitre Elle peut des socialqui registredes de actes enoutre ressources le nombre contientla associéstenu et de parts désignationde controlled a phosphate mine near Boma , according to opérations au pays versements lui chaqueassocié financières ou effectués appartenantet . l'étranger, tous 11 peut être l'indicationdes a further agricoles frais , délivré l'associé company documents . The company obtained certificat constatant son qui le demande et à ses inscription au registre. 489 hectares (1,208 acres) of agro -pastoral land in the Ce 14 former Bas-Congo province from the Ministry of Land Les Affairs in 2013 , and another 506 hectares ( 1,250 acres) in 2014.87 According to company records, Ferme Espoir was Figure4 ShareholdingagreementFermeEspoir the full owner of GEL at the latest by March 2014.88

13 All the President's Wealth

The Kabila Family Business

Affairs.92 In 2014and 2015 it also receivedgovernment 2 . contractsthroughthe government'sBureauCentralde First Lady Marie- Olive Coordination( BCECO), whichoverseesthe management Lembe Di Sita and children of manydonor-fundedprojectsin the Congo, to provide school suppliesand build latrines.93Sincethereis no legalrequirementto makethe revenuesof non- profit organizationspublic, as in the UnitedStatesand the President Kabila's wife, the First Lady Marie- Olive Lembe UnitedKingdom, for example, it is impossibleto estimate Di Sita, network of business interests she controls the financesof IPOLK. personally or in conjunction with one or more of her children . She also runs a non -profit organization that The First Lady has been able to raise considerable promotes the rights of women and children . amounts for charitable efforts , although it is not always clear whether the funds pass through IPOLK . In 2013 , a ) Initiative Plus Olive Lembe Kabange the First Lady inaugurated the Cité Maman Olive Lembe Kabila ," a public housing project consisting of The FirstLady's InitiativePlusOliveLembeKabange, 120 three - bedroom houses , a school and a hospital on also knownas InitiativePlusOLK IPOLK, is active the outskirts of Kinshasa , described by the national TV throughoutthe country promotingagricultureand women station as " an initiative of the First Lady Olive Lembe."94 and children'srights and development. It fightsagainst The same year , she inaugurated a large technical school sickle-cellanemia, buildsschools and latrines, and has in Tshikapa , described by her foundation as a personal partneredon humanitarianprojectswithsuchcompanies donation to the local community.95 The UN radio station as BritishAmerican Tobacco. reported that she financed the construction of two technical schools in Maniema province % and news In 2013 , IPOLK obtained 9.4 hectares of agriculture reports suggest there are schools in Mbandaka , Gungu land outside Kinshasa from the Ministry of Land and Uvira also bearing her name.

Figure6 Maman OliveKabilaon the outskirtsof Kinshasa

14 2 OliveSifa Laurent Sociétéà ResponsabilitéLimitée Capital social 9.200.000 Francs congolais Siège social : , Boulevard du30Juin , commune de Gombe , Kinshasa République Démocratique du Congo

TITRE II DEMOCRATIONE Apports- Capital Parts ENTRE LES SOUSSIGNES OFFICE NOTARIA 1. Madame Marie Olive LEMBE KABILA , de nationalité congolaise , née Article 5 : Les apports Kailo, le 29 Juillet 1978, , avenue Ouganda, Quartier cliniques,commune de Gombe, à Kinshasa 2. Apports en numéraire LasociétéSentinelleInternationalGroupapporteaugroupement 2. Mademoiselle Joséphine KABANGE, de nationalité congolaise, la somme de 8.000.000 USD, somme mise disposition du née à Windhoek , le 26 avril 2000 , résidant au 5 avenue Ouganda , groupementdès signaturede cet acte. Quartier cliniques , commune de Gombe, à Kinshasa, ici représentée par Madame Marie - Olive LEMBE KABILA , majeur d'âge , domiciliée au 5 3. Apportsennature avenue Ouganda Quartier Cliniques commune de Gombe, Kinshasa;... La société OSIFAL Sprl apporte au groupement d'intérêt économique sous les garanties ordinaires et de droit, le bien désigné 3. Monsieur KABILA Laurent Désiré, de nationalitécongolaise, né le 18 ci- après : une concession foncière située à Lubumbashi. Cet apport septembre2008, résidantau n 5 , avenueOuganda, Quartiercliniques, est évalué 1.000.000 USD par les membres soussignés. communede Gombe, ici représentéepar Marie-OliveLEMBEKABILA, majeurd'âge, domiciliéeau avenueOuganda, communede Gombe, 4. Apports en industrie à Kinshasa La société Osifal Sprl apporte également au groupement d'intérêt économique ses connaissances professionnelleset ses est établi une société à Responsabilité Limitée conformément aux relationspersonnellesdans le domaine administratifet techniqueen dispositions statutaires pertinentes dont la teneur suit : République Démocratique du Congo. Cet apport est évalué à 1.500.000de dollars américains. Récapitulatifdesapports Apports en numéraire 8.000.000 USD Figure 7 Osifalarticles of association (excerpt) Apports en nature 1.000.000 USD Apports en industrie : 1.500.000 USD Total : 10.500.000 USD

b) OTJConstruction Article 6 Le capital Le montant du capitaldu groupement d'intérêt économique est fixé à 10.500.000 USD OTJ is a construction and civil engineering company founded Cette somme est divisée en parts égales de 105.000 USD chacune in 2010 and owned in partnership between the First Lady attribuées aux membres du groupement d'intérêt économique en and two Belgian men, Thierry and Jean Paul Adam , who fonctionde leurs apports. are reportedly her stepbrothers . CRG found little publicly available information about the company besides its incorporation documents , although a TV news report of the opening of Cité Maman Olive Lembe featured Thierry Adam and reported that OTJ construction built the complex.99 Figure8 La Pétrolièreincorporationdocument(excerpt)

c ) Osifal - Olive Sifa Laurent missionhad been leasingthis landfrom a private landlord Osifal, short for Olive Sifa Laurent , is the First Lady's main previously; the landlordthen sold the land to Osifal without holding company, which she owns in conjunction with her notifyingthe UN.104 two children.100 Its ownership has changed several times since it was founded in 2004 , and while they appear to have Osifal is also a shareholder in a number of other companies, used different names , the first lady and daughter seem to detailed below . have always been part of the shareholding.101 According to its incorporation documents , Osifal is involved in oil and mining, d ) La Pétrolière airlines , air and road transport , construction , travel, and real estate . It directly owns seven diamond and gold exploration Osifal created the fuel transport and storage firm, La permits; all are currently in force majeure.102 It also holds Pétrolière , with Sentinelle International Group Ltd. in 2006, farmland and property in North Kivu province and it collected and became an equal partner in 2007.105 Sentinelle has also a total of $ 270,000 in rental fees from the UN Department been involved in mining in Congo and has links in South Africa, of Peacekeeping Operations in 2015.103 The UN peacekeeping the British Virgin Islands and the Seychelles.106

15 All the President's Wealth

The Kabila FamilyBusiness

When Sentinelle and Osifal created La Pétrolière , Osifal According to its incorporation documents , the joint provided two assets to the company to meet its $2.5 million venture was set up to mine nine permit areas held by share capital contribution , according to La Pétrolière's Osifal , though documents seen by CRG do not say which incorporation documents .107 The first was a piece of land permits. 114 As of June 2017 , the company held two mining in Lubumbashi that the companies valued at $ 1 million. exploration licenses in diamond -rich Kasai Occidental The second was its “ professional contacts and personal under the name Hebron Holding DRC.115 CRG found no relationships in the administrative and technical domain other public documents detailing its current status . in the Democratic Republic of Congo ." The companies valued that contribution at $1.5 million 108 g ) COMINCA - La Congolaisede Mines et des Carrières In 2011, La Pétrolière had a contract with the state electricity company for $ 154,780 to provide Scotch tape COMINCAwas a miningcompanyfoundedin 2004.116 and other things ."109 In 2009, the Economic and Financial PresidentKabila'sdaughter, Sifa , who was four yearsold Commission of Congo's parliament raised questions about at the time , was a minority shareholder in the company . two La Pétrolière contracts worth more than $3 million COMINCA held permits for copper, cobalt , gold, tin, and total with the country's environmental ministry.'10 Most diamonds , according to the mining company of the money was earmarked for programs to educate or some of its shareholders apparently had a provisional youth in wood work ," even though La Pétrolière is meant agreement with diamond company De Beers that never to import petroleum products , according to its incorporation came to fruition after an intra- shareholder dispute at documents . The ECOFIN commission said the environmental COMINCA involving Another partner in the venture ministry had not abided by the normal financial and was her uncle, Patrick Bologna , who is currently a national tendering processes to favor the company . deputy and is married to the sister of First Lady Olive Kabila . By the end of 2005, Bologna took over the company with his CRG could not find public documents related to La Pétrolière's other immediate family members , and Sifa was no longer petroleum -trading business . part of the share structure. In June 2011, Bologna and his family ceded their shareholding . COMINCA no longer e ) Five Forty DRC SPRL appears to have registered mining permits.

Five Forty DRC, an airline and transport company , was another partnership between Osifal and the British Virgin Islands- registered arm of Sentinelle International Group Ltd. Just as in La Pétrolière, Sentinelle brought in $8 million in cash for its share capital while Osifal's $2 million share capital contribution was covered by the value of its “professional connections and personal relationships." 112 f ) Hebron Holding Congo

Osifalalso owns or owned 50% of HebronHoldingCongo. HebronHoldingsSA Pty, whichwas registeredin SouthAfrica aboutthree weeksbeforethe incorporationof the Congounit in June 2008, holdsthe other

Hebronis anothercompanywith diverseinterestsbut few knownactivities: its incorporationdocumentssay it is involved in goldand diamonds, civilandindustrialconstruction, transportation, financeandinvestmentfunds, the marketing of foodandindustrialproducts, and telecommunications.

16 2

AmongCWN'sshareholdersis a companycalled Keratsu HoldingLtd., with a 19.6% indirectstakein the company. Keratsuwas incorporatedin June 2001, six monthsbeforethe 3 . creationof VodacomCongo, in the tiny SouthPacificisland Jaynet Désiré Kabila Kyungu of Niue.128The holdingamountsto an indirect4.8% stake in VodacomCongofor Jaynet Kabila.

Incorporationdocumentsfrom Niue'scorporateregistryshow Jaynet Kabila was born in Hewa Bora , Fizi, South Kivu, in that she co-ownsthe companywith FeruziKalumeNyembwe, June 1971 and grew up mostly in Tanzania . Soon after her who has alsoserved as the coordinatorofthe FondationMzee father was killed in 2001 , she began setting up companies Kabila that Jaynet Kabila Feruziand JaynetKabila have in Tanzania , the United States , Panama , the island of Niue, knowneachotherfor years : Feruziis the son of Didier Kazadi and Congo.120 She has or has had direct and indirect stakes Nyembwe, the formerhead of Congo'sintelligenceagency, in at least 28 companies over the past fifteen years . Through the ANR, and a closefriendof Laurent- DésiréKabila.130 these companies she has stakes in more than a hundred mining permits . b ) Acacia (formerlyGrand Congo)

She is also the president of the Fondation Mzee Laurent As of September 2014 , Acacia was owned by Jaynet along Désiré Kabila , which , according to its articles of association , with President Kabila's 16-year old daughter, Sifa ; his brother, is an organization that works with vulnerable populations Masengo ; and his financial adviser, Emmanuel Adrupiako . Two including widows and orphans of war , HIV patients, and others have minority stakes. 131While the shareholding has child soldiers 122 changed over time , Jaynet Kabila has always been part of the company , according to more than a decade's worth of Acacia In 2011 she was elected as a national parliamentarian documents seen by CRG in Congo's official registry , and she from Kalemie , the lakeside capital of what is now called signed the company's most recent incorporation documents Tanganyika province. As a public official she is subject to on behalf of both her brother Masengo and niece Sifa.132 laws regarding asset declarations and conflicts of interest . Congo's code of conduct for public officials does not prohibit Acacia holds 43 diamond - mining permits directly and holds her from being involved in business . a minority stake in Kwango Mines,133 which has 53 permits. Together these permits stretch around 450 miles along a) KeratsuHoldingLtd. Congo's southern border with Angola.134 The permits also cover several rivers in Bandundu known to carry diamonds . Perhaps the most valuable known operating asset of Kwango's original total permit area of 21,948 square the Kabila family is an indirect stake in Vodacom Congo kilometers appeared to be bigger than the 20,000 square owned by Jaynet Kabila . Vodacom Congo is the largest kilometers allowed under the mining code.135 All of Acacia and mobile phone operator in the country . It had 8.5 million Kwango's permits are currently in force majeure, according subscribers as of March 2016 , and runs Mpesa , to the mining registry.136 Acacia has had a disputed but a mobile banking longstanding option agreement with Delrand Resources Ltd., a Canadian diamond miner listed on a Toronto stock exchange , The company is controlled by South Africa's Vodacom to develop some of its permits. Group , which owns 51% of shares through a subsidiary based in Mauritius. Vodacom Group's majority shareholder is There is currently artisanal diamond mining taking place on London- based Vodafone , one of the largest phone operators at least some of Acacia and Kwango's permit areas , according in the world.125 Vodacom Group created Vodacom Congo to Bloomberg However, CRG could not find any when it signed a joint venture on 11 December 2001126 with indication that either company has registered diamond a company called Congolese Wireless Network , which exports , according to publicly available mines ministry controlled a mobile phone operating license . CWN retains documents or in declarations to the Extractive Industries 49% of the company. Transparency Initiative . When Acacia and Kwango first

17 Emmanuel Sifa Jaynet Gibril ( Djibril) Adrupiako Kabange Kabila Masengo Financial Daughter Sister Brother

25

% 25 80%

Excel Acacia Holding

43 % 15 % 20 diamondmining permits % 20 29

100

Excel Development Multifunctional Director 30% 60% 75 % Finance Ltd. (UK ) 53 copper mines diamond Haut mining Katanga permits 10 Multidigital mining KwangoMinesSprl % permits Finance Ltd. ( UK ) WimbiDiraAirways 38 Sprl (WDASprl)

70% 50%

5 % 10%

% 12

Développement Tous 3 Azimuts Sprl / DTA Sprl mining permits Aviation Maintenance ServicesSprl 45

25 40% JNS CapitalSprl Société Internationalede Développement Sprl La Societe Congolaise d'Assainissement et Amitié CS RDC Sprl SOURCES

de Developpement / Incorporation documents from Congo and U.K .; | ACR SCADE Congo'sregistryof miningpermits

Note: Someofthesecompaniesare no longer active and / or their Figure 9 | The complex ownershipstructure of Acacia shareholdings may have changed

18 2

Kabila Family Mining Permits DemocraticRepublicofthe Congo

Mai-Ndombe

Sankuru

Kinshasa Kwilu Kasai

KongoCentral

Lomami Kasai CentralKasai Oriental Tanganyka Kwango

Haut- Lomami

Lualaba Haut- Katanga

Acacia COSHAInvestments Excel Development Osifal Hebron Holding GICC Kwango Mines Societe Renzo GomaMining Developpmenttous Azimuts

0 50 100 200 300 400 500 600 Kilometers

Source: CadastreMinierDRCongo, RGC/ IGC

Figure 10 Miningpermits partially or wholly owned by Kabilafamily members ( Permits belongingto the family in otherparts ofthe country are notvisible on this map, as well as those belongingto KalongweMiningand Sycamore Investment)

19 SOURCES

Companyincorporationdocumentsfrom Congo and Tanzania; Congo'sregistryofminingpermits Excel Holding Board Minutes, September 2014 Cecylia Chinn Mafika Zoe Kabila ExcelDevelopmentStatuesundatedbutafterMay Sister 2014, whenOHADArulestook effect Brother

ExcelConsultingStatues, September2014 % * Sycamoreshareholdingas of2005 of2010only 15 25 % CecyliaandZoewerelistedas directorsin Tanzanian Director companyfilings, whichdidnotincludeshareholding

Note: Someofthesecompaniesareno longeractive and/ or theirshareholdingsmayhavechanged 5 % SycamoreInvestments( T ) Ltd. Excel 29 53 diamondmining Holding permits 60%

% 50 % Kwango Mines Sprl Sociétédes Métaux % % Férreuxdu Congo/ SMFC 50 45 70 % Société 3 Société Minièrede Capital Sprl DéveloppementTous mining Internationalede AzimutsSprlDTASprl permits Tshikapa Développement/SID Mitshi La Societe Amitié CS - RDC Congolaise 25 % % d'Assainissementet de 40 ACR Développement /SCADE Sprl

received their permits , diamond production was Congo's Accordingto one study of loggingpermits in 2003, Acacia had most lucrative industry. In 2003 , when Kwango was created , the rightsfor loggingover 275,597hectaresof forest in former Congo's official diamond exports surpassed $584 million Equateurprovinceunder its former name , Grand Congo.144 and accounted for more than three -quarters of the country's export revenue.139 Acacia also controls or controlled at least three artisanal copper and cobalt mining sites known as Monde Arabe , Besides the diamond permits, Acacia was the main Kansonga , and Katekete ( Kateketa ), according to a shareholder in Wimbi Dira Airways , which operated in Congo 2014 report by French consulting firm Sofreco that was between 2003 and 2011, but is no longer According commissioned by the World Bank's Promines program in to two airlines industry publications , Wimbi Dira operated Congo.145 All three are located on a Gecamines permit around either thirteen or fourteen large aircraft during this period.141 Luisha in Haut Katanga province.146 Artisanal miners on Through Wimbi Dira , Acacia had another small shareholding the sites do not have employment contracts and receive in an aviation maintenance company.142 no social protection of any kind " the report says . Citing testimonies gathered from many artisanal miners operating Acacia's incorporation documents say that besides mineral on or near the concessions , it goes on to say that Acacia's exploration and exploitation ,the company is also involved in agents the report says are Lebanese - are protected investment , building , and real estate . A 2005 Environmental by Congolese soldiers . These soldiers ensure , if necessary by Ministry decree suggests it used to sell timber as well.143 force , that artisanal miners sell their production exclusively

20 Jaynet Kabila Gibril (Djibril) Masengo

Sister Brother

75 % 75 80% % 20

15 %

10 miningpermits Excel Excel 25 Development Consulting

% % 40 70% 38 85 %

Sycamore Cesco- Promedics Aviation InvestmentsSprl Enterprises Maintenance 2 Services mining permits Kupic Travels & Tours Ace Car Rentals Immobilière Property Developments Figure 11 The complex ownership of the Excel companies

to owners operating sites from which they extracted the ore civil society organizations , in 2011 , Acacia should have paid and to nobody else. The purchase prices set by companies $823,332 and Kwango Mines should have paid $1,009,408 are lower than the market and therefore very unfavorable to in surface rents alone.151 Any mining company that made artisanal miners " 147 payments to the government for over $500,000 in 2011 was also required to file with Congo's Extractive Industries NeitherSofreconor CRGcould determinewhetherAcacia had Transparency Initiative.152 ( The threshold for reporting was the legal rightto minethe Gecaminessites . Gecaminesdoes lowered to $200,000 in 2014.) 153 Neither company did this, not list Acaciaas one of its partnersand has not published according to the 2011 EITI report Congo did make a unilateral any contractwith Acaciathat would allowthe companyto declaration for Acacia that year, reporting the company paid mine on its concessions.148 suchcontractsexist, Gecamines only $81,662 in surface rents, while noting no payments is requiredto publishthem 149. When CRG visited the Katekete for Kwango.154 With all their permits in force majeure, both site in September 2016, two Republican Guard soldiers companies can now avoid these requirements .155 protected the site, and artisanal miners in the region said the mine was controlled by the presidential family . c) The Excel trio : Development, Holding, and Consulting156 The sheer enormity of Acacia and Kwango's permit area means they should incur large annual payments to the Three of the companieslinkedto JaynetKabila and otherfamily state, according to mining code regulations 150 According to membersuse the name" Excel" andare interwovenin elaborate

21 All the President's Wealth

The Kabila FamilyBusiness

and confusing ways . Jaynet Kabila is the majority shareholder in all three . Some of the companies directly own mining permits and indirectly own mining companies , pharmaceutical PARTICULARSOFTHE DIRECTORSOR MANAGERS(a )OF SYCAMOREINVESTMENTS( T ) importers , former airlines , and offer consulting work and LIMITED financial services . All are located at 83 Avenue de la Justice The Present former Nationality Nationality oforigin Any ( Ifother than the in Kinshasa ChristianNaneand christiannameor Surname namesor surname present Nationality)

None Excel Development Jaynet Ursular None Tanzanian Kyungu Jaynet Kabila is the majority owner ( 51% ) of Excel

None Development , while Excel Holding owns 29% and her brother Zoe FrancisMtwale None Tanzanian Masengo owns 20% .157 Excel Development directly holds None 10 quarry exploration permits in Kongo Central.158 It was the Cecylia Mtwale None Tanzanian largest shareholder in Aviation Maintenance Services SPRL , which was also partly owned by the airline Wimbi Dira.159 Both of these companies now seem to be inactive.160 Excel Development had a 40% shareholding in Cesco Enterprises,161 a transport company that was also involved in logging and insurance, and held a 70 % shareholding in Promedics , a pharmaceutical supplier CRG could not find further Figure 12 Incorporationdocument ofSycamore (T) , excerpt information about these two companies .

Excel Consulting its shareholderswere listed as Jaynet UrsulaKyunguand Zoé Jaynet Kabila directly owns 75% of Excel Consulting.163 The FrancisMtwale.170While both are listed as Tanzaniancitizens, company's other shareholder is Excel Development . Excel the birthdatesin the incorporationdocumentsin Tanzania Consulting has an 85 % stake in Sycamore Investments matchthose of Zoé Kabilaand JaynetKabila. (Congo), which owns quarry permits (see below).164 The only information CRG was able to obtain about the company Accordingto the documents, Sycamore( T ) is involvedin comes from the profile of its director general , wide array of activities, rangingfrom agricultureto mining, Herman Mbonyo.165 It states that Excel Consulting was hotel and restaurantservice, and real estate. A business involved in the “ strategic guidance , management, and registrationdocumentfor the company from 2010 lists monitoring projects by several companies, including ISIS the company directorsas sister Cecylia Mtwaleand Zoé Congo, which is owned by Zoé Kabila.166 ISIS Congo holds the FrancisMtwale. contract to issue drivers licenses and national ID cards.167 Another company called Sycamore Investments was Excel Holding registered in Congo in January 2012 , just after Jaynet and Excel Holding is 80% owned by Jaynet and her sister Zoé were elected to parliament . The Congolese version Cecylia , and their Tanzanian - based company Sycamore of Sycamore Investments is 15% owned by their brother Investment ( T ) Excel Holding owns 60% of Kwango Mines , Masengo, and 85% owned by Excel Consulting , giving Jaynet which holds 53 diamond mining permits and significant Kabila majority control of the company. The firm holds shareholdings in a number of other companies.169 Excel two permits to mine quarries on the outskirts of Kinshasa , Holding also holds 29% in Excel Development , and through although at least one is subject to forfeiture for missing that company has an indirect stake in Excel Consulting. required payments , according to the online map of the mining According to its incorporation documents , d) Sycamore Investments (T) Sycamore is engaged in various other sectors , but CRG could & Sycamore Investments ( Congo ) not find further details of its operations .

Sycamore Investments ( ) was created in 2001in Dar es Like many other family companies , Sycamore Investments Salaam, Tanzania . As of July 2001 and 31 December 2005, (Congo) is registered at 83 Avenue de la Justice in Kinshasa.

22 IN

e) Congotel accountantand auditorfrom Luxembourgsuggeststhat the companyhas at leastsomerevenue, or at leasthad A year after the Vodacom deal, Feruzi Kalume Nyembwe and inthepast Jaynet Kabila founded another telecommunications company , La Congolaise de Télégraphe & Télécommunication SPRL g ) La Société de Développement Tous Azimuts ( DTA ) (Congotel , May 2002.173 Incorporation documents list Feruzi and Jaynet Ursula Kyungu as equal shareholders in La Société de Développement Tous Azimuts SPRL (DTA )181 Congotel , and list Fizi as Jaynet Ursula Kyungu's birthplace controlled a number of companies in Congo , all of which and 4 June 1971 as her birth date , the same place and date of were linked to the presidential family . The company was birth as Joseph Kabila , Jaynet Kabila's twin brother . created on 28 December 2004 and is 70% owned by Jaynet Kabila's Kwango Mines . DTA currently controls two copper f ) DevelopmentTradeAnd InvestmentCompany and cobalt exploration permits just east of Pweto in the former Katanga province , as well as one permit to dig sand Development Trade and Investment Company SA ,174 was and gravel north of Lubumbashi.182 incorporated in Panama on 16 January 2003 , with Jaynet U. Kyungu another name for Jaynet Kabila as president.175 Besidesminingpermits, DTA has a joint venturecalled The company was formed a day after President Kabila's Amitié CS-RDC / ACR that it created21 March2011with finance adviser, Emmanuel Adrupiako , set up Panama a Korean partnernamed Corenco( Korenco).183 ACR's based Morayo Investments SA , using the same lawyers incorporationdocumentssay the companyis involved in and law firm mining, construction, transportand oil exploration.

DevelopmentTrade and Investmentcreated the Kisangani In 2008, DTAcreated La SocieteCongolaise based company Carrefourde Développement/ CARDEV d'Assainissementet de Developpementor SCADESPRL,184 a two years later on 11 October2005, and took a controlling Kinshasabased companythat does communitydevelopment, 80% stake.177 CARDEV'sincorporationdocumentssay it is mining, realestate, import-export,transport, construction, involvedin import-exporttrade , preciousand semi-precious andtransit. Apartfromits incorporationdocuments, SCADE's minerals, forestry, agro-industry, transportand tourism, recordsdo not appearin the officialgazette. amongother things. Zoé Kabila representedthe company. A companycalled MultidigitalFinancewas its “ commissioner," CRGwas unableto find evidenceof any incomeor accordingto board minutes. MultidigitalFinancewas investmentsbythesecompanies. In 2008, DTA attemptedto a London- based companyset up by Adrupiakowhose launch a smallrockettowardsspace knownas Troposphere incorporationdocumentssay it was involvedin health, social V onboard. The rocketcrashed, butthe video of work, and dentistry.178 the launch went viral.185

Fiveyears later, on 21July 2010, CARDEVset up Strategic h) FondationMzeeLaurent-DésiréKabila Metalsand Technologies( StrametCongo), a company createdfor the mining, processingand treatmentof minerals, The Laurent- Désiré KabilaFoundationis based in Kinshasa also headquarteredin Kisangani. CARDEVtook 25% of and, accordingto its foundingdocuments, workswith HIV Stramet, while 75% went to SPI, the company partlyownedby patientsand other vulnerablepopulations, especiallythose Zoé Kabila mentionedabove.179 linked to the wars in Congo . Its original board members included Jayent Kabila and her sister Josephine , as well It is not clear what any of these companies actually do or as the president of the country's 2011 electoral commission , did . CARDEV documents list an address for Jaynet Kabila's Pastor Ngoy Mulunda , and longtime business collaborator Panamanian Development Trade And Investment Company with the family , Théophas Mahuku.186 Like Olive Lembe at Grant Thorton Révision et Conseil in Luxembourg , “ an Kabila's foundation , there is no public record of its audit , tax , accounting and business advisory firm dedicated finances or activities . to serving the needs of individuals , businesses and other organisations , according to its website.180 The need for an

23 All the President's Wealth

The Kabila Family Business

His partner in the venture received World Bank contracts to build roads, bridges , and houses in Congo as well as risk 4 . insurance from the Overseas Private Investment Corporation Zoé KabilaMwanzambala (OPIC ), the U.S. government's private development agency . While the US government said at the time in an internal cable that the company did not have any political risk associated with it, proper due diligence would have revealed Zoé Kabila was born in Dar es Salaam , Tanzania on 26 Zoé's ownership of the company's Congolese venture : he June 1979. He has a son born in 2008 who is an occasional is directly listed in the Congolese company's incorporation partner in his companies. 187 His business interests range documents.197 While at the time of these contracts , Zoé from diamonds to construction to roadwork to mining, had not yet been elected to public office, he still would have transport , fuel , and farming . He has several investment been considered a politically exposed person" due to his agencies and recently built a hotel on Congo's Atlantic connections to the president.198 Coast called La Beviour through his Cosha Investments company . Cosha also holds gold and diamond mining Zoé Kabilaalso has a homein Johannesburg, South Africa , permits and has a stake in the Congolese subsidiary of which he bought in 2007for five million rand, about Nando's fast -food chain . Through its subsidiaries , Cosha $709,000at the time.199Manyof his investmentsare owns more mining permits as well as contracts with intertwinedwith his siblingsand alreadyoutlinedabove. multiple companies to mine tin, coltan, gold , copper and Otherinvestmentsare detailedbelow. cobalt.188 also indirectly owns the company that prints Congo's driver's licenses.189 Another company owned by a) Cosha Investments Zoé provided services to Ivanhoe's Kamoa mining project possibly the biggest undeveloped copper mine in Zoé Kabila owns 90% of Cosha Investments along with the world191—as well as to the Sicomines mining project, long-time partner and family friend Théophas Mahuku. 200 a cobalt and copper operation that is the cornerstone of The company holds eight mining permits quarries in Congo's $ 6.2 billion mineral -for - infrastructure deal with Kongo Central, and six diamond and gold permits northeast the Chinese government.192 Moise Ekanga , the head of the of Kisangani near Isiro.201 All eight are in force majeure. The office that deals with the China contract , worked for Zoé's company also holds a 12.29 percent direct stake in the Nando's Strategic Projects and Investments even after taking on his fast-food franchise in Congo.202 Cosha held a 20 percent current position.193 stake in Okapi Airlines , which was previously called One Time Airlines and was operational between 2011 and 2014.203 Zoé Kabila also owns a football club, the Shark XI, as well as a The company recently built a 59-room luxury hotel called La boxing gym and fitness center in Kinshasa called Shark Club.194 Beviour in Muanda on Congo's Atlantic coast . President Kabila inaugurated the resort in 2016 with a large delegation of dozens In 2011 he was elected as a national deputy from Manono , of government officials from Kinshasa and Matadi.204 in central Katanga , now part of Tanganyika province . As a public official he is subject to laws regarding asset Industrielle et Commerciale au Congo (GICC ) declarations and conflicts of interest . Congo's code of Several of Zoé Kabila's biggest investments have been made conduct for public officials does not prohibit him from through Cosha's 90% interest in La Generale Industrielle being involved in business . et Commerciale au Congo, or GICC.206 GICC owns 60 % of Imprimerie de Sécurité Informatique et Système ( ISIS-Congo) , He co -owned Number One Contracting Co., which was which holds the contract to print Congo's driver's licenses.207 the fourth - largest road construction group in Congo between at least 2003 and 2008 , accounting for about KalongweMining 11% of the construction market , with average sales of GICCalso holdsa 10% stakein KalongweMining, a copper about $ 14 million per year.195 In 2005 , the group received and cobalt projectrunby the publiclytraded Australian two contracts totaling $ 287,410 from UN agencies to company, NzuriCopperLimited(formerlyRegal Resources) provide road construction material.196 GICCsold30% of its stake in the projectto Regal/ Nzuri in

24 2

the company in exchangefor GICC'sservicesassisting Motowithobtainingthe necessarypermitsfor the Moto Gold project in northeastCongo.215At the time, Moto Goldmineswrote :

" In order to expedite the progress of the Moto Gold Project ,the Company has engaged Generale Industrielle et Commerciale au Congo ( " GICC "), a DRC- based consultancy group , to assist Moto in obtaining the Consolidated Lease Agreement , negotiating the documentation relating to the Moto Gold Project and obtaining of all relevant government approvals and consents to enable the development of the Moto Gold Project."

In 2009, Moto gave GICC nearly 1 million shares for its Figure 13 La Beviour Hotel205 work.216 A few months later, Randgold Resources and AngloGold Ashanti bought Moto Goldmines for around $500 Shareholders were offered $4.47 per share, 2016for a total of $4.255 million in cash and $1.255million which would have given GICC at least $ 4.3 million if they in shares.208As of February2017, it also directly held5.8% of still held the 981,193 shares they'd recently received from the Nzuri shares , worth about $2.5 millionat the time.209 company . CRG could not find GICC's exact shareholding in Moto at the time of the sale . GICC acquired the permit for Kalongwe in 2011 from a subsidiary of Mines Ltd. for $ 1.2 million, according to a - African Speciality Metals (ASM ) and Tantale June 2014 Regal announcement and Ivanhoe's prospectus for et Niobium du Tanganika ( . its initial public offering 210 Ivanhoe says an agent with power of The GICC website also mentions another company, ASM , attorney conducted the sale and the company did not know it which controlled a tin and coltan project in Manono that was dealing with GICC.211 Nzuri's exploration of Kalongwe has links to the Cosha Group of companies.218 ASM is short uncovered inferred resources of more than 300,000 tons of for African Speciality Metals, a defunct joint venture with contained copper and 42,000 tons of contained cobalt. a publicly traded Australian company called Noventa.219 According to company documents , Noventa controlled half GICC also directly holds nineteen mining permits, according of ASM , which in turn held 75% of Tantale et Niobium du to Congo's mining registry . Thirteen permits are in force Tanganika ( ), a joint venture with state mining majeure, including seven quarry permits in Kongo Central near company COMINIERE to develop two tin and coltan permits Tumba , and six exploration permits for tin and coltan north in Manono.220 This contract has never been published of Manono in Tanganyika province.213 recently obtained violation of a government decree.222 five other active exploration permits from a subsidiary of Ivanhoe.214 Neither Ivanhoe, which is publicly traded on the In 2012, Noventa announced it would provide $2.5m in loans Toronto Stock Exchange , nor GICC have announced the terms to ASM to develop the permits, but the company failed to of this deal publicly . Ivanhoe told CRG that the small value of repay one of its own creditors and was forced to leave the the contracts meant it wasn't required to report them under project in 2013.224 It is not clear if ASM is still trying to develop the applicable securities legislation . According to Ivanhoe , the the site with another partner. total payment for the five permits was $200,000 , with Ivanhoe retaining a 5% royalty - Iverland According to its website , GICC also has a fuel supply - Moto Goldmines contract with Ivanhoe Mines Ltd.'s Kamoa Copper SA project In 2007, publicly traded Moto Goldmines Ltd. hired GICC and with Iverland SARL , which runs the Lupoto copper mine for $ 2 million and the possibility of millions of shares in outside Lubumbashi.225 Documents leaked from BGFI DRC

25 All the President's Wealth

The Kabila FamilyBusiness

bank which is 40% owned by a Kabilasister and whose According to its website , TLM is a subcontractor for two CEO is Zoé's adoptedbrother, Selemani show Iverland of Congo's biggest mining projects, Kamoa and Sicomines . MiningCongo companypaid Cosha Investments$ 3 million Kamoa is run by the publicly traded Canadian Ivanhoe Mines in December2015.226 Ltd., which calls the project the world's largest, undeveloped , high - grade copper discovery "234 Ivanhoe was embroiled in c ) Kikwesa Farmland a dispute with the Congolese government when Kinshasa blocked its sale of a large stake in the Kamoa mine to the On 17 February 2010 Zoé Kabila's son, Nunez Taratibu Chinese Zijin Mining Group in May 2015.235 In an August 2015 Kabila , obtained 600 hectares (1482 acres ) of farming public filing, Ivanhoe said the company had hired Tanga to and pastureland in the Kikwesa region of Haut Katanga perform a number of small civil works" including a roadway , from the Ministry of Land Affairs.227 Nunez was eighteen sump and drain "236 In September, the government allowed the months old at the time . sale to Zijin to go through. d ) StrategicProjectsand Investments(SPI) There is no evidence that the contract with TLM was linked to a resolution of the dispute with the Congolese government . In 2006 , when he was only 27 years old , Zoé Kabila When contacted , Ivanhoe Mines stated that the company contributed $ 10,920,000 to the share capital of his and its representatives were never in touch with Zoé Kabila company , Strategic Projects and Investments (SPI ), regarding these contracts , and that TLM was unsuccessful in which was also part- owned by President Kabila's close its bid for a much larger contract worth $ 37.47 million. adviser, Augustin Katumba Mwanke.228 The firm was set to invest $15.5 million in agricultural projects , mainly in TLM provides stripping , mining , blasting and drilling for Ferme Espoir , which was described as a branch of Sicomines's Mashamba West Mine, according to the company its board minutes and is now fully owned by President website . Sicomines is the largest single investment in Congo's Kabila and his two children.229 history a 3.2 billion mining project that swaps Congolese copper and cobalt for $3 billion in infrastructure investments . held75% in StrategicMetalsand Technologies ( Stramet Congo), a companycreatedin 2010 for the d ) Shark mining, processingand treatmentof minerals, headquarteredin Kisangani.23 Shark is registeredas a non- profitorganizationwith a soccerteam, a boxinggymandfitness centerin Kinshasa MoiseEkanga, the headof the office that deals with Congo's calledShark Club.237The club also has a restauranton site. $ 6.2 billion contractwith China, becamethe chief operating Like the FondationLaurentDesire Kabilaandthe InitiativePlus officerfor January 2007.231 OLK , its finances are not available. e Katanga Premier SPRL ( KAP SPRL e Société Aketi ( SA SARL ) & Tanga Logistics & Mining SA ( TLM) Founded in 2016 , Société Aketi is owned by Zoé Kabila's wife Zoé Kabila createdKatangaPremierin June 2012, and and two of his children.238 (He is not a direct shareholder directlyholds 60%, while his sonholds 30% andThéophas himself . ) The company's incorporation documents say it Mahukuholds10% .232 Itsincorporationdocuments is involved in oil and gas sales , distribution , and transport ; describeit as a telecommunications, manufacturing, engineering and construction ; telecommunications ; travel and mining, customs, cement, travel, informationtechnology, tourism ; insurance ; agriculture and a number of other activities . fast food, realestate, brokerage, andarchitecturebusiness. CRG could find no other information about the company.

Tanga Logistics & Mining SA ( TLM) Katanga Premier is a 100% shareholder in Tanga Logistics & Mining SA ( TLM) , a logistics, public works, engineering and construction company based in Katanga.2233

26 2

CHAPTERVI: OTHER FAMILY, OTHER GomaMining INVESTMENTS Société privéeà responsabilitélimitée Procès- verbalde l'Assembléegénéraleextraordinairedu21avril We have highlighted three other 2008 business ventures by members En date que dessous et à Kinshasa, au n 83 de l'avenuede la of the Kabila family , as well : a Justice, dans la Commune de la Gombe, s'est tenue l'Assemblée controversial mining contract that générale extraordinairedes associés de la société dénomméeGoma Mining, sociétéprivée à responsabilitélimitée, ayantson siège social led to the suspension of IMF funding ; à Lubumbashiet immatriculéeau Nouveauregistredu commercede a fuel and transport company in Lubumbashi, sous lenuméro9521 ; Lubumbashi ; and an iconic building Sociétéconstituéepar actereçuetenregistréen date du 25 juillet in downtown Lubumbashi . 2005 par Monsieur Kasongo Kilepa Notaire de la Ville de Lubumbashi a) & Comide Goma Mining Le capital social de la société est de 200.000 $ US (Deux cent mille dollars américains), représenté par 2.000 parts sociales d'une A family member was also involved valeur nominalede 100$ US ( cent dollars américains), chacune. in a controversial copper project 1. Composition called La Congolaise des Mines et de Sontprésentsou représentés: Développement SPRL (Comide) that Madame Joséphine Tumaleo , résidant à Kinshasa, au n 9 de was cited in the 2012 decision by the l'avenue Okapi, Commune de Ngaliema, titulaire de 200 parts International Monetary Fund to cancel sociales représentant 20.000 $ US , soit 10% du capital its half- billion dollar loan agreement with social the DRC . In 2011, the government refused la société Big Mama Company Sprl, titulaire de 1.800 parts to publish sufficient information about a sociales , représentant 180.000 $ US , soit 90% du capital social, deal between three companies : Eurasian ayant pour gérante, Mademoiselle Nicole Mwamini, est représentée, uniquement aux fins des présentes, par Maître Resources Group, company owned by Israeli billionaire Dan Gertler called Straker International, and a Congolese company called Goma Mining. It involved a complicated swap for permits between CRG could not locate Big Mama's African Development Bank . Comide shareholders and Goma Mining incorporation documents 242 Goma programs also act as a bellwether in one of Congo's richest mining regions . Mining board meeting minutes show for other investment ; without an IMF When the government would not release Big Mama's representative was at program that includes oversight of the contracts related to the deal in one time Nicole Mwamini . According budgetary matters , many companies contravention of Congolese government to a biography of Laurent - Désiré are less willing to invest in an regulations and IMF and World Bank Kabila, Joseph Kabila's mother, Sifa unstable country like Congo , which agreements with the country , the Mahanya , had a daughter in her has a reputation for corruption.244 IMF stopped its loan program.240 first marriage who carried the name Mwamini , though the biography does The Comide deal was not the first time At the time , the owners of Goma not include her full name. CRG could Goma Mining had been involved in Mining were not publicly known , not confirm any relationship between a controversial mining deal . In 2007, but company filings show Josephine Nicole Mwamini and the Kabila family . Goma Mining created a joint venture Tumaleo , President Kabila's sister , has called Roq Mining to dig copper in been its chair since the company's The IMF decision to cut its loan Katanga with a subsidiary of the Swiss incorporation.241 As of 2008 , Tumaleo program cost the country about company Ameropa Holding.245 The also owned ten percent of the $225 million in loans from the Fund, two sides soon ended up in court company , while another firm called along with the possibility of $87 in a dispute about dividends and Big Mama Company owned the rest . million in budget support from the payments that lasted at least through

27 All the President's Wealth The Kabila Family Business

2013. Ameropa is no longer operating including a Tanzania -based travel c ) Mining Permit 13115 in Congo . Goma Mining still holds agency , night club, and clothing the mining permits , according to boutique , and a Congolese fuel In 2015 , Shaba Impex250 was involved the country's mining registry.246 company , Shaboil , that operates in an unusual transaction regarding a a 4.8 million liter capacity modern mining permit just east of Lubumbashi . b ) ShabaImpex depot at Ruashi and filling stations in In 2014 , the Lubumbashi - based Lubumbashi, according to an archived mining company , Chemaf, broke off Shaba Impex is owned by Kabila version of the Shaba Impex website . 248 a small piece of their mining permit sisters Cecylia Chinn Mafika ( 80 %) The company is also apparently involved PE 12113 , renumbered it PE 13115, and and Makolo wa Ngoy Kabila (20 %), in mineral trading : Shaba Impex ceded it to Shaba Impex.251 Instead also known as Makie Wangoi.247 The sells copper " and other minerals" of mining the concession , Shaba company has several subsidiaries , Alibaba , China's version of Amazon.24249 Impex transferred the permit to a

REPERTOIRE DES TITULAIRES DES DROITS VALIDES CLOTURE AU 31DECEMBRE 2015

TYPE DATE DATE SUPERFICE N TITULAIRES NF N STATUT ACTES ADMINISTRATIFS D'OCTROI D'EXPIRATION 320 CHEMAF PE 12 CHEMAF PE 322 KATANGA SPRL 2477 PR 220914 323 CHEMAF KATANGA 12424 PR 08/04/11 KATANGA PR 1904 325 CHEMAF KATANGA SPRL PR Act 190417 CHEMAF PE 327 PE Act 140941 12 329 CHEMAF MAKALA PE 25 15 PE 140941 5 330 PE 135 CHEMAF PE 2014

332 CHEMAFMAKALA PE 140941

333 PE 0771041

334 PE Act

CHEMAFMAKALA PE 250935

MAKALA 11557 PE 48

CHEW PE 140941 14 339 OF AFRICA 577 PE BANK(UK 6 PE 200109

CHEMICAL OF AFRICA PE de avec BANK(UK 230812 12113 IMPEX CHEMICAL OFAFRICA 12370 PR 180914 CHEMICAL OF 12371 180914

REPERTOIREDESTITULAIRESDESDROITSVALIDES CLOTURE AU 31 DECEMBRE2015

TYPE DATE DATE SUPERFICE N TITULAIRES N STATUT ACTES ADMINISTRATIFS PERVIS D'EXPIRATION CARRES 56 ADAMANTES SARL A 1274 PEPM 25 10 58 ADVANCED DRC SPRL 7493 PR 36 MINERALS DRCSPRL PR 8 50 SPRL PR 51 ADVANCED DRC SPRL A1216580E PR 4 SPRL 19031 PR PR AFRICA RESOURCES SARL PEPV Cession de Corporation AFRICAN MNES 13115 PE RESOURCES ARPC ARPC en 5

28 IN

company called African Mines Congo, or AMC, within less than a year . AMC is based in Kinshasa ; CRG could not find its incorporation documents .

In response to a correspondence from CRG , a representative of Chemaf explained that this part of their concession was occupied by farmers " under the management of Shaba Impex," and as there were no minerals there , they decided to sell it. Chemaf also insisted that they did not have any dealings with the Kabila family.252 d ) The BetamaxBuildingin Lubumbashi

The Shaba Impex Congo headquarters were located in the “Betamax building " in the center of Lubumbashi , an iconic building in the heart of the city that used to house a popular movie theater . In 2007 Make Makolo wa Ngoy obtained the legal title to the land and the building.253 According to Congolese press reports, she obtained a court order to evict the companies renting commercial space in the building ; court officials and around forty police arrived at the building early in the morning to evict the storeowners.254 Court cases about the ownership continue to this day 255

The building is currently being demolished and replaced . Before it was torn down, just above the arches on the building's curved red-and -white front was a sign that said " Bâtiment Shaba Impex - Lubumbashi. " The building was also home to Renzo, a company controlled by another sister , Sissy , according to signs on the building in September 2016 . It was protected by members of the Republican Guard, who said the building belonged to the presidential family.256

29 All the President's Wealth

The Kabila Family Business

Analysis

The Congo is entering into an extremely obtaining fiscal and legal records, and the lack uncertain , volatile period . Due to in the of transparency in declarations of assets made electoral process , national elections were by senior figures in government . not held by the end of 2016, as required by the constitution . However, the opposition and We then document the rise of the Kabila the government reached an agreement on 31 family, from their relatively austere life in Dar December 2016 allowing for President Kabila es Salaam to the pinnacle of state power in to stay in power until the end of 2017 , while Kinshasa . Their ascendance raises significant ushering in a power -sharing agreement with questions , which we have detailed here: Has the opposition to oversee the government the family benefitted from privileges not inthe interim .The implementation of available to most Congolese , including the that agreement , however , became mired use of the Republican Guard to protect their in controversy when Kabila named Bruno properties , or exceeding the number of mining Tshibala , a dissident opposition leader, as permits legally allowed ?258 Have there been prime minister on 7 April 2017 . conflicts of interest in how they obtained stakes in over 80 companies ? And have foreign This report, however , points to political donors and corporations been sufficiently problems of governance that go beyond the scrupulous when they have partnered with or peaceful and democratic transfer of executive supported these companies ? power. Elections alone will not be enough to redress the violence , poverty , and corruption The purpose of this reportis not to provide afflicting the country . For a large part, elections definitiveanswersto these questions that will in the Congo have produced the exchange be up to Congolesecourtsand watchdogs of power among political elites. There has but to illuminatethe issuesat stake. Greater been extremely little redistribution of wealth accountabilitywill only come with pressure by the government , and scant investment on Congoleseelites and their international in infrastructure , job creation , or social business partners to ensure ethical behavior. services . Throughout the peace process , Without greater transparency, more pressure the international community and Congolese on elitesto renderthem accountable, and elites alike have placed an emphasis on the clearer legislationregardingconflicts of trappings of democratic institutions interest, goodgovernancewill remain a creation of national and provincial parliaments , distantaspiration. the extension of state authority , and a liberal constitutional framework but have had little success in influencing the content of those institutions and rendering them accountable to the country's citizens .

What is lacking is an emphasis on accountability for political elites . In this report , we have highlighted structural weaknesses related to governance in the Congo : ambiguous conflict of interest legislation , the difficulty in

30 I

ANNEXA: SUMMARYOF VALUESAND COMPANY REVENUES

The following is a summary of what Zoé has a home inJohannesburg , companies have even tried can be gleaned from publicly available South Africa , which he bought in 2007 to put a value on the connections documents regarding the values and for about $709,000.265 that come from partnering with the revenues of companies and assets presidential family . Normally each mentioned in this report . DRC Bank , which is 40% partner in a joint venture will provide owned by a Kabila sister , Gloria share capital based on the percentage Jaynet indirect 4.8% Mteyu 266 and whose CEO is Joseph of its shares in the company Rather stake in Vodacom Congo , the adopted brother Selemani , is than make the Kabila family company , country's largest mobile phone the sixth-largest bank in Congo with Osifal, pay cash for its share capital in carrier , could be very roughly $209 million indeposits and $8.56 La Pétrolière and the airline company valued as low as nothing or as million in net assets through 2015 , Five Forty DRC , the British Virgin high as $72 million , depending on five years after its creation.267 Islands -based Sentinelle Group valued different estimates of the company's the “ professional connections and value , which have been as high as • According to leaked bank transfer personal relationships ” of Osifal at $1.5 billion and as low as zero.260 documents from BGFI, Iverland $3.5 million total intwo separate joint Mining, which holds rights to the venture contracts in 2006.273 members own more than Lupoto copper mine and has a fuel 71,000 hectares of land, as well as deal with GICC, 268 paid Zoé Kabilas • A company partly owned by Zoé numerous large houses in major cities . company Cosha Investments $3 Kabila, La Generale Industrielle et While the value of the land depends millionin2015.269 Commerciale au Congo (GICC ) sold on many factors, interviews with 30% of its stake in Kalongwe Mining in landowners in several parts of the ofthe family'sairlines 2016 for a total of $4.255 million, along country suggest that these holdings hadsignificantassetsbut have with $ 1.255 million worth of shares.275 are worth many tens of millions goneout ofbusiness. Forexample, of dollars . WimbiDira, whichexistedbetween • In 2007 , publicly traded Moto 2003and2014, ownedup to 14 Goldmines Ltd. hired GICC as a • In 2003 , a company partly owned by airplanes, including3 Boeing727 consultant for $2 million. In 2009, Zoé and his adopted brother Selemani DC-9, and3 Antonov12.270 Moto gave GICC nearly million sold $12.3 million worth of diamonds , shares for its work . Moto was soon according to government statistics.262 Some of the family's companies taken over in a deal valuing those have received contracts from shares at about $4.3 million.276 • In2006, when he was 27 years old, the Congolese government. La Zoé contributed $10,920,000 to the Petrolière, which is half- owned by share capital of his company, Strategic President Kabila’s wife, daughter, Projects and Investments (SPI) and son, had a contract with the state electricity company in 2011 • A company half- owned by Zoé Kabila, to provide “ scotch tape and other Number One Contracting Co., was things” for $154,780.271 This company the fourth -largest road construction came under scrutiny in 2009 from group in Congo between 2003 and the Congo's parliament for irregular 2008, accounting for 11% of the road contracting procedures involving construction market, with average more than $3 million in deals with the sales of about $ 14 million per year.264 country's environment ministry.272

31 Allthe President'sWealth The KabilaFamilyBusiness

ANNEX B: RELEVANT LAWS AND REGULATIONS

The Congolese memberswithinthirty days oftaking and members of parliament and all other office andagainwithinthirty days after public officials.286 Congo's 18 February 2006 constitution leavingoffice. The declaration, whichis has a number of articles restricting the submittedtothe ConstitutionalCourt, The code prohibits government officials business activities of the President. shouldlist: from making decisions on issues where there is a real or apparent conflict of Article 96 states, “ The functions of ... ]heir movable assets, including interest. The official should also end all the President of the Republic are stakes partnership shares, obligations, transactions and actions that result in a incompatible with the exercise of other assets, 280 bank accounts, their fixed conflict of interest. The code says conflicts any other elective office, any public, assets, including undeveloped lands, of interest arise from a “ situation in which a civil or military employment and any sts,plantations and agricultural public official of the state has an interest of professional activity .” The article lands, minesand other realproperty, a personal nature that influences or appears permits no exceptions , unlike the with indicationofthe pertinent titles. to influence the impartial and objective subsequent article, Article 97 which exercise of his/her official functions.9287 applies to members of government Thefamily patrimony includes the assets and allows them to engage in a limited of thespouse followingthe matrimonial All public officials are also required to number of personal business practices. regime, ofminors and ofchildren , even present a list of the assets belonging those above the age of18,281 the couple is to them and their family annually to Article 98 prohibits the President responsiblefor the Observatoire du Code d'éthique and government officials or their Professionnelle intermediaries from acquiring any assets President Kabila has reportedly followed that belong to the state and prohibits this article . He provided his first asset MiningCode them from participating inpublic tenders : declaration as president on January 3, 2007, according to press reports ,282 and The country's 2002 Mining Code governs During their functions , the President filed a second in 2012.283 behavior in the mining industry, and fully ofthe Republic and the members ofthe applies to mining activity the family Government may not, by themselves Congo's transitional constitution ,which engages in. The code governs among or through an intermediate person , applied between 2003 and 2006, also many other things – taxes and rents, the purchase, oracquire in anyother forbade any member of government or size and amount of permits one can hold, fashion, or lease an asset which belongs their intermediaries from purchasing or the declaration of force majeure , and the to the domain ofthe State, ofthe renting anyasset belonging to the state, use of artisanal miners . Provinces or ofthe decentralized entities . and required a declaration on their honor ” of all assets at the beginning and a) NumberofPermits They may not take part, directly or end oftheir term in office.284 “ On August indirectly, in public tenders278 the 28, 2003, President Kabila submitted to According to Mining Code Article 53 , “ A benefit of the administrations or of parliament a written declaration ofhis person and his/ her affiliated companies institutions inwhich the Central Power, wealth ” according to a 2005 IMF report.285 cannot hold more than fifty Exploration the Provinces and the decentralized Permits. administrative entities have interests . The CodeofConductofPublic OfficialsoftheState b ) Force Majeure Finally, Article 99 of the Constitution requires the Presidentto declare Passed3 October2002,the code of Many of the mining permits linked to his or her assets and those of family conductappliestothe headof state the family are inforce majeure, which is

32 covered in Article 297 ofthe code.The The amount of the annual surface say the elite unit is allowed to protect rules for what constitutesforce majeure area fees per quadrangle are specified business or mines belonging to the are strict: in the Mining Regulations so as to president's family. be the approximate equivalent to the Any event which is unforeseeable, amount per hectare provided for in the PoliticallyExposedPersons ( PEPs) unavoidable , insurmountable and paragraphs below . outside the control of the holder, Kabila family members would be preventing him, despite his best Theholderofan Exploration considered Politically Exposed efforts,from executing his obligations Licence pays annualsurfacearea Persons 291 or PEPs , in bank parlance. infull or in part or causing a fees per quadrangle in the amount Working with a PEP often requires significant delay in the execution of Congolese Francs equivalent to disclosure by foreign companies to thereof, constitutes a case offorce 0.03 USD per hectare for the first their stock exchanges , shareholders , majeure . Thefollowing events are two years of the first term of validity ; and governments , and leaves a company particularly considered as cases of the amount in Congolese Francs exposed to accusations of corruption , force majeure: wildcat strike, riots, equivalent to 0.31 USD per hectare for even if the charges are not true . insurrection , civil unrest, social the remaining years of the first term conflicts, government action without of validity ; the amount in Congolese The inter-governmental Financial Action legal support, sabotage, natural Francs equivalent to 0.51 USD per Task Force defines PEPs as individuals catastrophe, fire, acts of war or hectare for the second period of who are or have been entrusted with circumstances attributable to war . validity ; and, the amount in Congolese prominent public functions by a foreign Francs equivalent to 1.46 USD per country, for example Heads of State The eventof forcemajeuremay be hectare for the third period of validity or ofgovernment, senior politicians, allowedonly for breachesof those of his title. senior government, judicial or military obligationswhichcouldnothavebeen officials, senior executives of state executedon accountoftheoccurrence The holderof an Exploitation owned corporations , important political ofthis event. Licencepays annual surface area party officials . ” also says , “ The fees per quadrangle in the amount requirements for all types of PEP should An act or an omission attributable to of Congolese Francs equivalent to also apply to family members or close the holder does not constitute a case 5.00 USD per hectare regardless of the associates of such PEPs. offorce majeure . The conditions for term of validity of his title. application ofthepresent article are specified in the Mining Regulations. Republican Guard c) Surfaceareataxes The Republican guard is governed by the 11 August 2011 law on the Surface area taxesvary onthe nature organization and functioning of the of the miningpermit andthe number Armed Forces, which limits the tasks of ofyears the permit holder has held the the guard.290 It says the force can only permit. Thetext ofthe rule in English be used to protect the President and translationis below. distinguished guests of the republic , presidential installations , and to carry Article199 : Calculationofthe annual out the honor guard and escorts at surfacearea fees per quadrangle the level of the presidency. It does not

33 Allthe President'sWealth

The KabilaFamilyBusiness

ENDNOTES MinesLtd.'sKamoaCopperSA projectand Kabila. Coshaand GICCstatutes, bothfrom the Sicominescopper and cobalt project, August2014, onfile with CRG 1 US Departmentof State, Bureauof accordingto its website. http://www . Democracy, HumanRightsandLabor, Country tlmining.net/index-4.html(AccessedMay 10 Loi organique n ° 11/012 du 11 Août 2011 Reportson HumanRightsPracticesfor 122017) . Tanga Logistics& MiningSA , Portant Organisation et Fonctionnement 2016: DemocraticRepublicof the Congo ProcèsVerbalde l'AssembléeGénérale des Forces Armées de la République (Washington: USDepartmentof State,2017); Extraordinairedes Associés,10 July2014, on Démocratique du Congo , Section 9. A TransparencyInternational, Corruption filewith CRG CRG researcher observed Republican PerceptionsIndex2016 ( Berlin: Transparency Guards protecting the Betamax building in International, 2016); GlobalWitness, Congo's 6 United Nations Development Program, Lubumbashi , at Acacia's Katekete mine , and Secret Sales ( London: GlobalWitness, 2014) " United NationsSystem Annual Statistical at a Shaba Oil service station in Lubumbashi Report2005," July 2006, https:// www . in September 2016

2 FermeEspoirincorporationdocuments, ungm.org/Areas/Public/Downloads/ JournalOfficiel, No 11-11, 1June 2012.Minutes ASR_2005.pdf (accessed 2 March 2017 ); 11 Imprimeriede Sécurité Informatiqueet from generalassemblyof Sociétédes Grands US Department of State, risk Système ( ISIS-Congo) Statutes, September Elevagesdu Bas- CongoSa, 22 March2014, insurance will aid country in restoring 2014. Onfilewith CRG. Radio Okapi, RDC: reportedinJournalOfficiel, No , 1October infrastructure," 25 January 2006.http :// des permisde conduire biométriques 2015.Landgrantsin Kailodescribedin Journal reliefweb.int/report/democratic-republic disponiblesà Kinshasadepuis le début du Officiel12-1,15June 2012 congo / us-agency -helps-build-housing mois de mars," 7 March2012 democratic- republic - congo (accessed 29 3 Acacia SPRL ,minutes from general March 2017) 12 Michael Kavanagh . Halts Congo assembly, 11 September 2014 Kwango Mines Loans Over Failure to Publish Mine articles of association , 12 September 2014 . 7 Radio Okapi, Kabila declare son Contract ," Bloomberg News , 3 December Kavanagh , Michael,Thomas Wilson , Franz patrimoine " 4 January 2007 (accessed 2012. For incorporation documents , see Wild, With his Fortune at Stake , 24 March 2017 ); Kongo Times , Kabila Journal Officiel No 1-11, 1 January 2006 . President Kabila Digs In ." Bloomberg News . déclarer ses avoirs : Les membres du For Josephine Tumaleo's (Joseph Kabila's 15 December 2016 , https://www.bloomberg . gouvernement sous pression ," 24 January sister) directorship through 2013 , see com / news/ features / 2016-12-15 /with -his 2012 , http://afrique.kongotimes.info/ Journal Officiel No 23-1, 1December 2013 . family - fortune -at-stake - congo -president rdc / justice / 3712 -kabila - declarer -avoirs kabila - digs-in (accessed January 12,2017 ) procureur - gouvernement - justice -pression . 13 Article9, paragraph5 of Décret-Loi html (accessed 14 January 2017 ) 17/2002du 3 octobre2002portantCode 4 MossackFonsecaCompany, " New de conduitde l'Agentpubliquede l'État," Incorporation, Re: KeratsuHoldingLimited," 8 KwangoMinesarticles of association, 12 availableat: http://www.ilo.org/dyn/ Messageto Paul Banas, 19 June 2001. September2014. The permitscan be seen on natlex/docs/ SERIAL/ 84834/ 122179/ Email.https: //www.documentcloud. the website of the miningcadastre,http:// F309124789/ COD -84834 % 20 org / documents/ 2782966-Kyungu portals.flexicadastre.com/drc/en/(accessed ( CONSOLID).pdf. Jaynetdoc2.html(made availablethrough 24 March2017) . the InternationalConsortiumof Investigative 14 In Africa, five countries(SouthAfrica, the Journalists' PanamaPapersleakand last 9 Generale Industrielle et Commerciale CentralAfricanRepublic, Liberia, Cape Verde, accessed25 February2017) au Congo website ,http://gicc.cd/ours and SaoTomé and Principe) requirethepublic services / outsourcing / (accessed April disclosureof assets by governmentofficials. 5 Zoé Kabila's Tanga Logistics & Mining 27 2017 ) . GICC is 90 % owned by Cosha In Europe, almost everygovernmentrequires SA (TLM) has had subcontracts with Ivanhoe Investments , which is 90% owned by Zoé a degreeof disclosureby some officials.

34 Richard E. Messick , Regulating Conflict of com / news/ features / 2016-12-15 / with - his 25 Interviewwith Tanzanian security official, Interest: International Experience with Asset family -fortune-at-stake-congo -president Dar es Salaam, 13 January 2009; interview Declaration and Disclosure, Washington : The kabila -digs -in (last accessed 12 January 2017) . with Congolese security official, Kinshasa, 31 World Bank Group , 2007 . October 2009 19 Kennes, Erik,Essai biographiquesur 15 A draft law("Loisurl'accèsà l'information) Laurent-Désiré Kabila. Encollaborationavec 26 Colette Braeckman, " L'enfance d'un chef : was passedby the senateinOctober2015 MunkanaN Ge. Tervuren Institutafricain Entretien avec Maman Sifa à Kinshasa," Le Soir, but has not beentaken up by national Paris : L'Harmattan, coll. Cahiers africains 2 June 2006 assembly. Availableat: http://freedominfo. n° 57-58-59, 2003. org / wp-content/ uploads/ documents/ 27 Incorporationdocumentsof Banque de PROPOSITION% 20DE% , 20 20 This sectiondraws on dozensof Commerce et de Développement SARL,Journal VERSION % 20MOISE% 20FINALE.pdf. interviewsoverseveralyears with longtime Officiel No 10-11,15 May 2004 associatesof the family,as well as on: Colette 16 Décret n° du 20 mai 2011portant Braeckman, “ L'enfanced'un chef: Entretien 28 Jason K. Stearns , Dancing in the Glory of obligationde publiertout contrat ayant pour avec MamanSifaà Kinshasa," LeSoir, 2 June Monsters : The Collapse of the Congo and the Great objet les ressourcesnaturelles. 2006; EssaibiographiquesurLaurent-Désiré War of Africa (New York : Public Affairs, 2012 ), Kabila, op . cit. p . 291. COMIEX was never registered as a 17 Articles 3 and 4 of Decree No. 046-A parastatal and put under the official control of / 2003 of 28 March 2003 establishing , the 21 Using the spellingfor Mahanya based on the state ," Mulumba , the auditor general " Official Journal of the Democratic Republic incorporation documentsfor SociétéAketi, at the time , remembered . It was a private trust of the Congo " say that its mandate is : in which Zoé's daughter, Nefertiti Mahanya run by people close to President Kabila , but " Publication and dissemination of the laws Kabila, is a shareholder. entirely created with state assets ." and regulations adopted by the competent authorities in accordance with the 22 Essai biographique sur Laurent- Désiré 29 Assembleenationale, Commission Constitution ; publication and dissemination Kabila , op. cit , pp. 38-39 . spécialechargéede l'examende la validite of pleadings , acts of companies , associations des conventionsà caractèreéconomique and protests , political parties of industrial 23 Minister of Communication Lambert etfinancierconcluespendantles guerres designs , trademarks , service marks and Mende told a reporter, "You can find bad guys de 1996-1997et de 1999; Rapportdes other acts covered by the law ; the updating who are trying to use the names of authorities - travaux, partie, pp. 31-35. Available and coordination of legislative and regulatory to the family of the president , I belong at: http://www.congomines.org/system/ texts. " See, also , Article 97 of the Acte to the first lady.' Do you think the president attachments/ assets/ 000/ 000 / 209/ Uniforme relatif au droit commercial needs such a way to make money ?" BBC News . original/ Lutundula- 2006 -ReportComplet général révisé à Lomé le 15 décembre 2010 Why Congo miners fear presidential guards . pdf? 1430928066. / Organisation Pour l'Harmonisation En June 30, 2016. http://www.bbc.co.uk/news/ Afrique Droit Affaires (OHADA ) video and audio headlines / 36671661 ( last 30 Assembleenationale, Commission (2010 ),http://biblio.ohada.org/pmb/opac_ accessed January 9 2016 ) . spécialechargéede l'examende la validite css / index.php ?lvl = notice_display & id = 1830 des conventionsà caractèreéconomiqueet (Last accessed February 25,2017 ) . 24 Interviewwith Tanzaniansecurity financierconcluespendantlesguerresde official, Dar es Salaam,June 2016; interview 1996-1997et de 1999; Rapportdes travaux, 18 Kavanagh , Michael ,Thomas Wilson , Congolesegovernmentofficial, Paris, partie, pp.31-35. Franz Wild With his Fortune at Stake , December2016; ColetteBraeckman, President Kabila Digs In . Bloomberg News . 15 L'enfanced'un chef: EntretienavecMaman 31 See, for example, sectionson Acacia December 2016. https://www.bloomberg . Sifa à Kinshasa," Le Soir, 2 June2006. and Kwango. Allthe President'sWealth

The KabilaFamilyBusiness

32 MossackFonsecaCompany, Management 3 Country Department documents, Journal Officiel, No 1-11, Incorporation, Re: KeratsuHoldingLimited," AFCCD , " March2011. On file with CRG. 1 January 2014 Messageto Paul Banas,19June2001.Email. https://www.documentcloud.org/ 39 The Ministryof LandAffairsgranted 47 See below for incorporation documents documents/ 2782966-Kyungu-Jaynetdoc2. PresidentKabilaa seventhparcel in Sakania for these companies . html(madeavailablethroughthe International on the same date, but the ministerialdecreein Consortiumof InvestigativeJournalists' Panama the JournalOfficielis incompleteand does not 48 Kyungu is the name sometimes used for Papersleakand lastaccessed25 February2017) includethe size of the plot.See thedecreesin first - born twins in the Lubakat culture , while JournalOfficiel, No 8-1,15April 2009. Kabange is reserved for the second - born twin , 33 Saphir InternationalInc., official hence Joseph Kabila Kabange . documentscan be found on theTexas 40 Minutes from general assembly of Société Comptrollerof PublicAccountswebsite. des Grands Elevages du Bas- Congo Sa, 22 49 According to results from Congo's 2011 https://mycpa.cpa.state.tx.us/coa/ March 2014. Reported inJournal Officiel, No elections , when Jaynet and Zoé were both (accessed March13, 2017). CRG found no 19-11, 1 October 2015. elected deputies , Jaynet officially used the informationavailableabout theactivitiesof name Kabila Jaynet Désiré Kyungu while Zoé thiscompany. 41 BGFIBank DRCshareholdingdocuments used Kabila Mwanza Mbala Zoé . République 2014.On filewith CRG Démocratique du Congo , Commission 34 Memorandum of Association, Sycamore Nationale Electorale Indépendante , Elections Investments (T) Limited,18July 2001, on file 42 See below section on Moto Goldmines Des Deputes Nationaux De 2011 ( Provisional with CRG Moto Goldmines Agrees to Increase results ), 26 January On file with CRG . Interest in the Moto Gold Project and to 35 The companies still holdthe permits, Placement to Sam Jonah " December31, 50 Sezo International Trading Company which can be found on the website of Congo's 2007 http://www.marketwired.com/press Limited SPRL's shareholders were originally miningregistry, http: //portals.flexicadastre. release/ moto- goldmines-agrees-increase Selemani Francis Mtwale 35% / Francis com / drc / en / (accessed 20 February2017) interest-moto -gold - project- placement Mtwale 35%/ Masengo Francis Mtwale 15% sam - jonah -806434.htm (accessed 28 Mlindwa Francis Mtwale 15% . By 2008,Zoé 36 The De Beers deal fell through. See March 2017). had ceded his shares to Selemani,while a family Kavanagh, Michael, Thomas Wilson , friend from Tanzania, David Ezekiel , had taken Franz Wild " With his Fortune 43 Including the companies Goma Mining, three percent each from Mlindwa and Masengo. at Stake, President Kabila Digs In." Renzo, and Shaba Impex , part-owned by sisters Journal Officiel,No 2-11 , 15 January 2004 ; Journal Bloomberg News, 15 December 2016 , Josephine Tumaleo , Sissy Makolo , and Cecylia Officiel, No , Janaury 2010 . https://www.bloomberg.com/news/ Chinn Mafika respectively . Zoé Kabila's GICC features / 2016-12-15 / with - his -family and Tanga Logistics & Mining also subcontract 51 A decade ago the world's biggest fortune- at- stake - congo -president - kabila for copper and cobalt miners. See below for diamond dealer , De Beers, and smaller digs - in (last accessed January 12, 2017) references to ownership documents . companies like Canadian Delrand Resources (formerly BRC Diamond Core ) 37 Wimbi Dira incorporationdocuments, 44 See sectionsbelow for supporting tried to partner with the family to explore Journal Officiel, No 06-11 , 1August 2004 . sourcesfor these companies. the sites , but the contracts eventually fell apart and were only in the millions of 38 The World Bank, Report No.59631-ZR 45 FermeEspoirincorporationdocuments, dollars to begin with . Kavanagh , Michael, DemocraticRepublicof Congo Boosting JournalOfficiel, No 11-11, 1 June 2012 . Thomas Wilson , Franz Wild With his Growth and EmploymentVolume III: Sectoral Family's Fortune at Stake , President Kabila Studies, Poverty Reductionand Economic 46 Katanga Premier incorporation Digs In . Bloomberg News, December 15 ,

36 2016. https://www.bloomberg.com/news/ states : " In or about and between2005and 62 Telephone interviews with two members features / 2016-12-15 / with - his - family 2015, DRC Partner, togetherwith others, of parliament in Kinshasa, 11 December2016. fortune - at - stake -congo -president-kabila paid morethan one-hundredmillion U.S. digs-in(last accessed January 12, 2017 ) dollarsin bribesto DRC officialsto obtain 63 Radio Okapi, ONG réclame des special accessto and preferentialpricesfor poursuites contre les anciens ministres 52 The Israeli businessman in question is opportunitiesin the government- controlled qui n'ont pas déclaré leurs patrimonies," most likely Dan Gertler . When contacted miningsectorin the DRC." 26 May 26 2012. http ://www.radiookapi . by CRG , a company owned by Mr. Gertler net / actualite / 2012 / 05 / 26 / rdc-une denied all wrongdoing , stating : Fleurette 55 The figure comes from Global ong-reclame - des-poursuites-contre - les disputes any allegation of bribery. These Witness, " Outof Africa: Britishtax anciens -ministres - qui-nont-pas -declare allegations are motivated by a hedge fund havensand Congo's missing$1,5 billion," leurs -patrimoines (accessed 28 trying to put behind it problems sparked 4 May 2016 February 2017 ). by people that have nothing to do with Fleurette . " 56 Congolese law does not clearly 64 World Bank Press Release, "Only 43% of define what professional activity (activité Countries Disclose Public Officials ' Financial 53 The document, a deferred prosecution professionnelle) means. Assets, Says World Bank," 8 November 2012 agreement between Och - Ziff and the US government, speaks of DRC Officials 57 Constitution of the DR Congo, Articles 65 Income and Asset Declaration Requirements 1 and 2. There is no doubt that Official 96, 98 and 99 for Heads of State and Governments ,The World 2 is Augustin Katumba Mwanke : he is Bank Group ( Washington : The World Bank , described as a former governor of Katanga 58 See, for example, Radio Okapi, 2006 ) . who was an ambassador-at- large and declare son patrimoine, " 4 January 2007; a national parliamentarian who died on Kongo Times , " « Kabila déclarer ses avoirs 66 Legislatorsdo have some limited 12 February 2012. The agreement also : Les membresdugouvernementsous protectionsfromarrestand prosecution includes an excerpt from a Financial pression." 24 January 2012 accordingto Article107of the Constitution, Times article that identifies the person whichstatesthat a legislatorcan only be as Katumba Mwanke. It was not possible http://afrique.kongotimes.info/rdc/ arrestedor prosecutedwith authorization for us to definitively identify DRC Official justice / 3712 -kabila declarer -avoirs from the NationalAssemblyor Senate. 1.The agreement says that Katumba was a procureur- gouvernement -justice - pression. " close advisor " and " aide" to Official 1. The html ( last accessed January 14, 2017 ) 67 Article 53, Code minier de la République agreement quoted a text message from démocratiquedu Congo : " Unepersonneet Mr. Gertler after Katumba's death, saying : 59 Décret- Loi 017/2002du 3 octobre ses sociétésaffiliéesne peuventdétenirplus " I'm fine, sad but fine will have to help 2002portantCode de conduitede de cinquantePermisde Recherches. " [DRC Official 1 ] much more now See l'agentpublicde l'Etat Spécial_Code http://congoresearchgroup.org/oz-dpa de conduit, publishedin JournalOfficiel, 68 Code de conduite, op cit, Article11. signed-1 15 August2004 69 Severalfacts suggestthat some of the 54 DeferredProsecutionAgreement, 60 Observatoire du Code d'Ethique land may have beenobtainedfrom the state States DistrictCourt Eastern Professionnelle in Journal Officiel number 11-1, and not a privateindividual for all of the land DistrictOf New York, UnitedStatesOf 1 June 2003. cited here, PresidentKabilaobtaineddecrees America, Och-Ziff CapitalManagement from the ministryof land affairs, which is Group , 19 September2016. In 61 Interview Toges Noires representative , nota usualpracticefor the purchaseof land AttachmentA Statementof Facts: P A- , it Kinshasa , November 2016 . from a privateparty. The decreesall mention

37 Allthe President'sWealth

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thecreationof a plot of land," suggesting respective incorporation documents for 84 Minutes fromthe general assemblyof thatthe landdid not previouslybelongto a these companies . Sociétédes Grands Elevagesdu Bas- Congo privateparty. Ministerialdecreesfor thirteen SA, 22 March 2014. Reported in Journal plotsof landcan befoundin JournalOfficiel 74 At least 60,489 ownedby GEL, at least Officiel, No 19-11,1October2015. 23-1, December1, 2011; JournalOfficiel8-1, 15 2,678 owneddirectly by the president, andat April2009; and JournalOfficiel , 15June least 8,633 owned by Ferme Espoir, detailed 85 An archived page from the former 2012. CRG, however, was not able to obtain in sections below . website of the Blattner Group, which a copy of the sale agreementfrom the local used to run the company,says total land registryofficesto see who the previous 75 For Congo's average farm size, see www . landholdingsare about64,270 hectares. owner had been. ruralpoverty.org . Documentonfile withCRG

70 Imprimerie de Sécurité Informatique et 76 Ministerial decrees for thirteen plots of 86 2010 promotionalbrochureon agriculture Système (ISIS- Congo) Statutes, September land can be found in Journal Officiel 23-1,1 fromtheBelgian-Congotrade organization 2014. On file with CRG . http :// www . December 2011; Journal Officiel 8-1 , 15 April Beltrade,http://www.congoforum.be/ radiookapi.net/actualite/2012/03/07/ 2009 ; and Journal Officiel 12-1, 15 June 2012 upldocs/ Brochure% 20d % 20acheteurs% 20 rdc- des - permis -de - conduire- biometriques congolais-agro % E9levage-2010.pdf. Document disponibles -depuis-le -debut - du -mois-de 77 JournalOfficiel12-1, June 15, 2012 onfilewith CRG mars (accessed 28 March 2017) . National Assembly of the DR Congo, Commission 78 Perher biographyon the websitefor Olive Arrêté ministériel n 077 / CAB / MIN / Économique et Financiere , Rapport Kabila'sNGO, InitiativePlusOlive Lembe AFF.FONC / 2013 du 24 janvier 2013 portant Relatif Au Controle De L'Execution De La Kabila . The site is no longeroperationalbut création d'une parcelle de terre , à usage Loi De Finances De L'Exercice 2009, CRG retainsarchivedpagesin its files . mixte , n°2002 du plan cadastral du Territoire Semestre.," March 2010 pp. 25-6 . On file de Moanda in Journal Officiel 5-11 March with CRG 79 FermeEspoirincorporationdocuments, 2013 , and Arrêté ministériel n / CAB / JournalOfficiel, No 11-11, 1 June 2012 . MIN / AFF.FONC / 2014 du 12 novembre 2014 71 It is possiblethat membersof the portant création des parcelles n et 2314 Kabilafamily have plansto mitigatetheir 80 See land obtainedby Ferme Espoirfrom à usage Agro - pastoral du plan cadastral de conflictsof interest. Noneof the family the Ministryof Land Affairsinthefollowing la localité de Kitona ,territoire de Muanda , membersrespondedto ourrequestsfor more Journals Officiels: No , 15 June 2012; Province du Bas - Congo ,Journal Officiel , 1 informationinthis regard 1 August 2012; 11-1, 1 June2012; and , 15 December 2014 . July 2011 72 Loi organique n° 11/012 du 11aout 2011 88 Minutesfromgeneralassemblyof portant organisation et fonctionnement des 81 See FermeEspoir incorporation Sociétédes GrandsElevagesdu Bas-Congo Forces armées de la République démocratique documents, JournalOfficiel, No 11-111 2012 SA, 22 March2014. ReportedinJournal du Congo . Section 9 the Republican Officiel, No 19-11, 1 October2015 . Guard : The Republican Guard is a unit of the 82 http://www.katanga-tourisme.org/ Armed Forces whose mission is to provide : the ferme - espoir / last accessed December 5, 89 Published on Twitter by North Kivu guard and protection of the President of the 2016 Governor Julien Paluku (@julienpalukucom) Republic and the hosts of the republic ; security on 24 July 2016 of presidential facilities; escorts and honors at 83 Promotionalfilmof IPOLKfrom the level of the Presidency of the Republic." 2012https://www.youtube.com/ 90 In company documentsshe uses watch ? v = (accessed28 severalversions of her name, including 73 Seebelowfor the referencesto the February 2017). Marie- Olive Disita Sita, MarieOlive Lembe

38 Kabila, Olive Lembe Kabange , Lembeleo 20070818-00CNT1.html, accessed 104 In response to this information , a Disita, and Marie Olive Lembe Di Sita . 17 May 2017 spokesperson for the UN peacekeeping mission said : “ MONUSCO was leasing land 91 BAT Congo corporate brochure February 99 DigitalcongoTV , 1 July2013.https:// to accommodate a Formed Police Unit from 2011, on file with CRG. www.youtube.com/watch?v=BawedFcJkZM a private landlord . During the tenure of (accessed4 January2017) . This was the lease the private landlord sold the land 92 Arrêtéministérieln / CAB/ MIN/ confirmedbythe LinkedInpageof oneof Olive to Osifal ,without notifying MONUSCO . AFF.FONC/ 2013 du 13mars 2013 portant Lembe'spartners, ThierryAdam(https: // MONUSCO continued leasing the land from créationd'uneparcellede terre n°94475 www.linkedin.com/in/thierry-adam-b13710b1/Osifal due to operational requirements , à usageagricoledu plancadastraldela accessed25 January2017) which ceased in July 2016." Communede N'sele, Ville de Kinshasa, JournalOfficiel, No 8-1, 15 April2013 . 100 Marie Olive Lembe Kabila 40% 105 La Pétrolière'soriginalincorporation JosephineSifa Kabange 30 % Laurent-Désiré documentsare in JournalOfficiel 15 93 RépubliqueDémocratique Du Congo, Kabila 30 % , accordingto Olive Sifa Laurent April2007. Ownershipwas split between MinistèreDu Budget, DirectionGénérale Articles of Association, March , on file SentinelleInternationalGroup Ltd 50%/ Du Contrôle Des Marchés publics, Annual with CRG Osifal SPRL 50% as of January2007,Journal Report 2014 and Annual Report 2015, both Officiel March2007 on file with CRG. 101 Olive and Sifa owned 20% and 40% respectively , at the company's founding 106 Sentinelle International Group Ltd. , 94 June 2013 (https://www.youtube . under the names Sifa Kabange Joséphine using an address in the Seychelles , also com watch ? v = ). and Lembe Disita Olive , according to signed a joint venture contract for a gold incorporation documents in Journal Officiel mine in 2006. See : https ://www.mines-rdc . 95 https://www.youtube.com/ October 1 , 2005. In board meetings cd / resourcecontracts / contract / ocds watch? v =DuGc6jc , accessed4 April 2017 over the years , Sifa seems to have also used 591adf -7186545344 / view # / pdf, the name Safi Kabange Alida , while Olive last accessed 5 December 2016 . 96 Radio Okapi, "Olive Lembe inaugure seems to have used Lembeleo Disita . The 2 écoles techniques à Kindu" shareholding as of 2015 uses the names 107 Journal Officiel No 8-11, 15 April 2007 11 September 2015. Marie Olive Lembe Kabila , Josephine Sifa Kabange , and Kabila Laurent Desire . All 108 Sentinelle provided$ 8 millionin cash to 97 Report on DigitalcongoTV, published articles of association and board meeting cover its share capital contribution. Osifal's on YouTube12 September2015. https:// minutes are on file with CRG . shareholdingwas later increasedto 50%. www.youtube.com/watch?v=sNnO2eCoSJU accessed 4 April 2017. 102 As of January 2017, according to Congo's 109 RépertoireDes DocumentsRelatifs mining registry website http://www.cami.cd/ Au RecensementDes MarchesPublics 98 Marie- Olive Disita Sita 60 % / Thierry et 2ème Phaseversés aux Archives, which Adam 10% Paul Adam 10% OTJ 103 See UN Procurement documents for coversgovernmentcontractssignedin 2010, Contruction SPRL Articles of Association , Osifal , June 2015, https://www.un.org/Depts/ 2011, and 2012.Documentonfilewith CRG March 22 2010 , Journal Officiel 11-1 May ptd / purchase-order-awards/peacekeeping 2010. Colette Braeckman , L'épouse de Purchase -Orders / 2200023216 and UN 110 The parliamentaryreportconcluded: Joseph Kabila, président de la République Procurement documents for Osifal , July 2015 "Unmontantde 1.729.187euros a été démocratique du Congo , est de passage à https://www.un.org/Depts/ptd/purchase payé à la Société« la Pétrolière»pour Bruxelles. " Le Soir, 18 August 2007. http: // order-awards/ peacekeeping -Purchase achatdes équipementset matérielspour archives.lesoir.be/olive-lembe-di-sita_t Orders / 2200024760 laformationdesjeunes au métierde bois.

39 Allthe President'sWealth

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Le bon d'engagement y relatif porte des No 4-11, 15 February 2009 122 JournalOfficiel No 24-1, 15 December armoiries qui n'ont pas court légal en RDC . 2001 Le Ministre est passé outre l'observation 114 JournalOfficielNo 4-11, 15 February de la chaîne de la dépense pour ordonner 2009. 123 Vodacom Integrated Report for the year un deuxième paiement en dépassement ended 31 March 2016,p.51. Availableat http:// de crédit de 1.093.780 USD , la décision 115 CAMI www.vodacom.com/integrated-reports.phpLast du Conseild'adjudication en désignant la accessed 27 February2017 Province de Bandundu en lieu et place de 116 DRC Mining Cadastre Portal, http :// la Province Orientale . " National Assembly portals.flexicadastre.com/drc/en/ 124 Vodacom International Ltd. registration of the DR Congo , Commission Économique accessed 17 July 2017 . documents on file with CRG . Et Financiere , Rapport Relatif Au Controle De L'Execution De La Loi De Finances 117 CAMI, Repetoire des Titulaires des Droits 125 https://www.vodafone.com/content/ L'Exercice 2009, 1er ., " March 2010 Miniers, 2006. On file with CRG dam / vodafone-images / investors/ pdfs / group pp. 25-6 . On file with CRG. factsheet - dec-2016.pdf 118 See Cominca incorporationdocuments 111 SentinelleInternationalGroup Ltd. 80% from November2004 for original 126 Vodacom Annual Report2003 , p120: " The ( BVI) ; Osifal 20%,JournalOfficiel No 15 shareholdingand August 25, 2005 Group acquired its interest in Vodacom Congo April 2007 board minutes for dispute over De Beers ( RDC) s.p.r.l.on 11 December2001" negotiations. JournalOfficielNo 5-11 , 1 March 112 Journal Officiel No 8-11 15 April 2007. The 2006.On file with CRG . 127 Keratsu has shares in CWN through its company was created in 2006,the same 49 % stake in Réseau des Télécommunications year that Five Forty Aviation Ltd, a budget 119 COMINCA board minutes 1 June 2011 , ( RESOTEL SPRL), which in turn holds 40% of airline , was launched in Kenya . The latter Journal Officiel No 9-11, 15 May 2012 CWN . Congolese Wireless Network, Procès company later created Five Forty Ghana verbal de l'Assemblée Générale extraordinaire , and Five Forty Angola However ,CRG has 120 For Niue: Mossack Fonseca Company , 20 April 2010 been unable to find any official connections Incorporation ,Re : Keratsu Holding between the Congolese companies and Limited," Message to Paul Banas , 19 June 2001, 128 MossackFonsecaCompany, New these other entities , nor does Five Forty DRC email : https://www.documentcloud.org/ Incorporation, Re: KeratsuHoldingLimited," appear to be active . World Airline News documents / 2782966 - Kyungu -Jaynetdoc2. Messageto PaulBanas, 19 June 2001. " Five Forty Aviation and Lonho Aviation html(accessed 25 February 2017 );for Email. https://www.documentcloud.org/ Fastjet part ways," February 2013. https:// Tanzania: Sycamore Investments (T ) Limited documents/ 2782966-Kyungu-Jaynetdoc2. worldairlinenews.com/2013/02/06/five Memorandum of Association from 18 July html(accessed25 February2017) forty -aviation -and-lonho -aviation - fastjet 2001; for U.S.: Saphir International Inc., part-ways / official documents can be found on the Texas 129 Application for Reregistration of Comptroller of Public Accounts website . International Business Company 2 December 113 Hebron Holdings SA Pty was https://mycpa.cpa.state.tx.us/coa/(accessed 2011 , for Keratsu Holding Ltd. On file with incorporated 3 June 2008 in South Africa , March 13 , 2017 ); for Panama : Development CRG . Radio Okapi's interview with Feruzi according to its company documents from Trade and Investment Company S.A company Kalume Nyembwe , 12 January 2011. La South Africa's Companies and Intellectual documents from Panama's online company Fondation Mzee Laurent Désiré Kabila et la Property Commission on file with . registry on file with CRG . réalisation des projets sociaux ." http :// www . Hebron Holding Congo's shareholding was radiookapi.net/nationale/2011/01/12/la notarized 23 June 2008 : Osifal SPRL 50%, 121 See belowsections on Kwangoand fondation -mzee -laurent-desire - kabila - et -la Hébron Holdings SA Pty 50%.Journal Officiel Acacia realisation -des - projets -sociaux

40 130 Radio Okapi's interview with 136 DRC Mining Cadastre Portal, http: // while her sister owned 29% and Djibril Didier Kazadi, 20 June 2011, at http:// portals.flexicadastre.com/drc/en/ , accessed Masengo owned 20 %. Excel Development's www.radiookapi.net/emissions-2/ 26 March 2017 . incorporation documents on file with CRG le - grand- temoin / 2011/ 06 / 20 / didier and original shareholding inJournal Officiel kazadi-nyembwe-personne-na-mieux 137 Kavanagh , Michael ,Thomas Wilson , No 15June 2004 . gere -les-services -de-renseignement Franz Wild , “ With his Family's Fortune at comme-je - lai-fait. Stake , President Kabila Digs In," Bloomberg 143 Ministerial Order No. 044 / CAB / MIN News , 15 December 2016. And Delrand / ECN- EF / 22 July 2005 repealing 131 As of September 2014 , Acacia's Resources Limited ,“Management's Convention No. 042/03 of 26/03/2003 shareholding was : Jaynet Ursula Kyungu Discussion And Analysis Of Financial concerning the granting promise of 25 % / Sifa Kabange 25% Masengo Condition And Results Operations As At guaranteed timber supply for company Djibril 20 % / Adrupiako Emmanuel 15% And For The Three And Nine Month Periods Grand Congo . (Grand Congo was the former / Francine Tshipau 10% / Benoit Kambili Ended March 31, 2014 ," p 8. Document on file name of Acacia . Journal Officiel No 16-1, 5% . Acacia SPRL , Procès Verbal De L ' with CRG 15 August 2005 Assemblée Générale Extraordinaire , 11 September 2014 . 138 Kavanagh, Michael,Thomas Wilson, 144 Nicolas Bayol , " Assessment of the Franz Wild, " With his Family's Fortune at typical logging practices in the Maringa 132 lbid. Stake , President Kabila Digs In," Bloomberg Lopori -Wamba Landscape ," Conservation News, 15 December 2016. International ,September 2005 . 133 KwangoMinesarticlesof association, 12 September2014, has shareholdingat 139 African Development Bank / OECD, 145 SOFRECO, Rapportfinal sur l'Evaluation Excell(sic) Holding60% / Acacia 30 % African Economic Outlook 2004/2005, StratégiqueEnvironnementaleet Sociale / EmmanuelAdrupiako5%/ PatrickIgor (Abidjan:African Development Bank , 2004), Sectorielle( ESESS du secteurminieren Mpiana5 % . As of September2014, Jaynet p . 181 RDC," March2014. Availableat:http:// owned80% of ExcelHolding. Hersister www.prominesrdc.cd/fr/Rapport/sofreco.pdf Cecyliaowned15%, while a companyJaynet 140 WimbiDira'sshareholderswere: Grand (accessedJanuary 15 2017) . Kabilafounded in Tanzaniathat Cecylia CongoSPRL 75% TimothyJ. Roman15%, becamedirectorof, SycamoreInvestment, Yeza Feza10% , accordingto JournalOfficiel 146 Gecamines' ExploitationPermit PE 2603. held 5% 06-11, 15 March2004.Acacia was knownas See DRC MiningCadastrePortalat http:// GrandCongoSPRLuntilDecember2004, portals.flexicadastre.com/drc/en/ 134 As of 17 July 2017, CAMI'sonline map when it changedits nameto Acacia,Journal says Acacia owns 43 permits, while Kwango OfficielNo ,1February2005. 147 Interviewswith four artisanal miners in owns 53 September 2016 outside the same Gecamines 141 www.aerotransport.organd www. permit area confirmed this assertion . 135 21,948 is the total size of Kwango's airlineupdate.com,accessed4 January 2017 permit area according to CAMI's 2006 list 148 Gecamines partnershipsare listedat of mining permit holders . Article 53 of the 142 AviationMaintenanceServices http://gecamines.cd/html/participation. 2002 mining code says : the surface area SPRL, whoseshareholderswere Zaabu html# tableau partenariat(last accessed 24 granted to [ a permit holder ] may not exceed InternationalSPRL25%, WimbiDira Airways February2017) . 20,000 on the entire national territory . SPRL 12% Excel DevelopmentSPRL 38%, It is possible the total permit area no longer AviatechpromSARL25% . JournalOfficiel 149 Accordingto a May 2011 government surpasses 20,000 as the size of permits No 20-11, 15 October2009.JaynetKabila decree, all contracts involvingnatural can be changed upon renewal . alsoowns 51%of Excel Development, resources in the Congo must be published

41 Allthe President'sWealth

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withinsixty days fromthe datetheyenter assets / 000 / 000 / 613 / original /Rapport 163 Excel Consultingincorporationdocuments intoforce. DemocraticRepublicof the Congo, de -Conciliation - ITIE - RDC - 2012 - Final- from September 2014 on file with CRG Ministryof Mines, "Décretn° 011/26du pdf? 1430929391 ( accessed 13 May 2017 ) 20 mai 2011portantobligationde publier 164 Excel ConsultingS.p.r.l. 85% / Masengo toutcontratayantpour objet lesressources 155 Article 287 of the MiningCode allows Djibril 15%,JournalOfficielNo 17-11, 1 naturelles," 20 May 2011. On file with CRG permits in force majeure exemption from September 2014. Its permit holdings are surface fees . accordingto CAMI as of January 2017. 150 Surface area taxes are covered in Article 199 of the mining code . See Annex for text . 156 CRG has on file shareholdingsfor the 165 https://www.linkedin.com/in/herman three Excelcompanies. mbonyo -5556457a, accessed 4 January 2017 . Calculations from the Plateforme des

Organisations de la Société Civile intervenant 157 Excel Development :Jaynet Ursula 166 See below for details on ISIS Congo . dans le secteur Minier ( POM) in collaboration Kyungu 51 %/ Excel Holding represented by with The Carter Center, for the 2011 EITI Cecylia Idji Mafike 29% / Gibril Masengo 167 RadioOkapi, : des permisde scoping report (July 2013 ) . Document on file 20% as of October 2005 in Journal Officiel conduirebiométriquesdisponiblesà Kinshasa with CRG . In 2011 Acacia and Kwango were in No 1February 2006. The shareholding depuisle début du moisdemars," 7 March the process of renewing most of their permits remained the same in an undated re-filing 2012; RépubliqueDémocratiquedu Congo, and were not in force majeure , according to of the company statutes following new laws BCECO, Décisiond'attributionprovisoire mining registry documents . that went into effect in May 2014. Articles of No/ Inter-Gouv/ BCECO/ DG / DMP/ association on file with CRG. PGN/ 2015/ MF," August2015 . 152 RapportITIE- RDC2011, Secteurdes Mines, 30 December2013 , p . 11 http://www. 158 http://www.cami.cd/ accessed 168 Cecylia Idji Mafike15% / Jaynet Ursula itierdc.net/ accessedFebruary272017) 17 January 2017 Kyungu 80% / Sycamore Investment ( T) 5 . September 2014 Excel Holding incorporation 153 RapportITIE RDC 2014, December2015, 159 AviationMaintenanceServices: Zaabu documentson file with CRG . p 11 http://www.itierdc.net/ accessed InternationalSPRL25%, Wimbi Dira Airways 27 February2017 SPRL12% Excel DevelopmentSPRL 38%, 169 IncludingDéveloppementTous AviatechpromSARL25%,Journal Officiel No Azimuts SPRL, Société Internationale 154 Rapport ITIE- RDC 2011 Secteur 16-11, 15 August2009 de DéveloppementSPRL, Amitié CS - des Mines . P. 36 http : www . RDC SPRL , and La Societe Congolaise congomines.org/system/attachments/ 160 According to two independent websites , d'Assainissementet de Développment, all assets / 000 /000 / 510 / original/ Rapport www.planespotters.net and airlineupdate.com of which are detailedelsewherein Mines-ITIE-RDC-2011- -31 12 2013- (accessed on 22 May 2017 ),all of Wimbi Dira's the report Adopt_C3_A9e.pdf ? 1430929020 (accessed planes have been destroyed , sold, or are in 13 May 2017) In 2012, the state's unilateral storage . Wimbi Dira's website is also no longer 170 OriginalshareholdingJaynet Ursula EITI declaration noted nothingfor Acacia and working . CRG could not find any evidence that Kyungu75% / Zoé FrancisMtwale25%, $3,010 in payments by Kwango to DGRAD. Aviation Maintenance Services is operational . accordingto SycamoreInvestments(T) Republique Democratique du Congo, Comite LimitedMemorandumof Associationfrom Executif de l'Initiative Pour La Transparence 161 Cesco incorporation documents in Journal 18July 2001on file with CRG. Dans Les Industries Extractives, Rapport Officiel No 20-11, 15 October 2004 . de Conciliation ITIE RDC Exercice 171 Cecylia was born in Tanzania in 1975, 2012. Décembre 2014. http: www. 162 Promedicsincorporationdocumentsin and is also known as Cecylia Chinn Mafika. congomines.org/system/attachments/ JournalOfficielNo 1 December2005. One company document includes the name

42 Chinn crossedout in pen . Her birth date on 178 MultidigitalFinancewas createdin Philo10% / Lissola Mbela3% , JournalOfficiel thedocumentsmatchesother incorporation theU.K.in 2003 and dissolvedin 2006, No1-11, 1 January2010. documentsin Congofor Mafika . Cecylia runs accordingto documentsfrom Companies a numberof businessesin Dares Salaam Londonhttps://www.companieslondon. 185 http://mentalfloss.com/article/27244/ and in Congo, some of which are mentioned com / accessedMay14 2017.) However, brief - history - congolese-space-program , last below. Documentsareonfile with CRG . boardminutesof the Congolesecompany accessed 28 February 2017 . DeveloppementTous AzimutsSprl from 22 172 http://www.cami.cd/last accessed1 January2009still list MultidigitalFinanceas 186 The original board members , some of March 2017 a shareholderwith a Londonaddress. whom are now deceased : Jaynet Désiré Kabila , Marini Bodho Mbuyi Kana Grégoire , 173 Incorporationof Congotel SPRL,Journal For more on Adrupiako's offshore interests,see Maître Louis- Léonce Ch. Mudherwa , Officiel No 15June 2002 . M... Belgique, " Les mystérieusesoffshoresdu Joséphine Kabila , Frédéric Etsou Zamungwabi , «dir ' fin' de Kabila," 2 April 2014 . Kakudji Gaétan , Philomène Omatuku , 174 Also knownas DéveloppementTrade Charles Deschryver, Théophas Mahuku , and InvestissementCompany S.A in some http://www.mbelgique.be/2014/04/les Elie Lungumbu , James Nzagi , Pasteur Ngoy company documentsinCongo. mysterieuses - offshores - du -dir - fin.html. Mulunda , Pasteur Albert Kankenza , Al Hadji Mudilo wa Malemba , Kisolokele Diangenda . 175 President Jaynet U. Kyungu,Treasurer 179 Incorporation of Stramet Congo , Journal Journal Officiel No 24-1, 15 December 2001 . John B. Foster, Secretary AndresM. Sanchez, OfficielNo 1 August 2010. accordingto Panama'sonline company 187 NunezTaratibu Kabila , born Johannesburg, registry, copies on file with CRG . 180 http://www.grantthornton.lu/online/ 7 June 2008, accordingto JournalOfficiel1-11, www / navMain/ homepage / ENG / index.html 1January 2014 176 Morayo Investments SA incorporation (last accessed 19 January 2017) documents from Panama's online registry 188 Generale Industrielle et Commerciale au on file with CRG . There a Larissa Morayo, 181 Fullshareholdingat 2004incorporation: Congo (GICC) Statutes, August 2014. On file who was the representative for Adrupiako's KwangoMinesSPRL70%/ WorldContact with CRG London-based Multifunctional Finance SPRL15%/ MultidigitalFinanceLimited10% Ltd in its joint venture with Kwango Mine's / MathyA. Keren5% in JournalOfficielNo 189 Imprimerie de Sécurité Informatique et subsidiary DTA called SCADE . (For more 9-11, 1 May 2009 Système (ISIS - Congo) Statutes, September information on these companies see below .) 2014. On file with CRG Morayo has also been a board member 182 As of January 2017, according to Congo's of First International Bank , where Kazadi mining registry 190 IvanhoeMinestold CRG that itsofficialsand Nyembwe is the chairman of the board . representativeshaveneverhad contactwith Zoé All incorporation documents from London 183 Société DéveloppementTous Azimuts, Kabilaandthat it was not awarewho the owners and Panama from public online company DTA SPRL 40% SPRL 60% Journal of GICC were . IvanhoeMines, “ IvanhoeMines registries and on file with CRG . Officiel No 17-11, 1 September2014. Corencois issuesfact- basedresponseto CongoResearch also knownas Korencoand has been active in Grouponcertainbusinessactivitiesin the 177 Full shareholding: DéveloppementTrade miningin Congofor severalyears. DemocraticRepublicof Congo," 15June2017 and InvestementCompanyS.A80 [sic] / MokeniEkofiKaneRaymond20%.Journal 184 Société DéveloppementTous Azimuts, 191 Cecilia Jamasmie, " IvanhoeMines' DRC Officiel 15 February2006. Raymond DTA SPRL 25% MultifunctionalFinance Ltd project likely Africa'stop copper discovery Mokenihas beenthe headof Federationdes 5% / Keveluc SPRL, 10 % Serquip SPRL showsfresh drillingresults," www.mining.com Entreprisesdu Congofor OrientaleProvince. 40% / Groupe Yodade SPRL 7 % / Ngowa 11 August 2016

43 Allthe President'sWealth

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192 According to the website for Tanga filewith CRG . http://wikileaks.lwise.es/ 205 Twitter, @labeviourhotel, 12 February Logistics and Mining SA .http:// www . cable/ 2004/ 11/ 04KINSHASA2021.html 2017 tlmining.net/index-4.html (Last accessed 27 March 2017 ) . TLM is 100% owned by 198 The Financial Action Task Force of the 206 Generale Industrielle et Commerciale au Katanga Premier, according to company board Organisation for Economic Cooperation and Congo ( GICC ) Statutes , August 2014. On file minutes from 25 March 2015 on file with CRG . Development first proposed this term in its with CRG Tanga Logistics and Mining SA Procès Verbal 2003 report, recommending enhanced due de L'Assemblée Générale Extraordinaire des diligence . It defined a PEP as : " Politically 207 Imprimerie de Sécurité Informatique et Associés 25 March 2105. Katanga Premier Exposed Persons " ( PEPs) are individuals who Système ( ISIS-Congo ) Statutes , September is 90% owned Zoé and his son,for are or have been entrusted with prominent 2014. On file with CRG . http ://www . incorporation information see below . public functions in a foreign country ,for radiookapi.net/actualite/2012/03/07/ example Heads of State or of government , rdc - des - permis -de-conduire -biometriques 193 Curriculum Vitae for Moise Ekanga senior politicians , senior government , judicial disponibles -depuis - le - debut- du -mois - de from Rebranding Africa Forum, 3eme or military officials , senior executives of state mars (accessed 28 March 2017 ) Edition, Brussels, October 13-15 2016 , owned corporations , important political on file with CRG party officials . Business relationships with 208 NzuriCopperLimited (formerly Regal family members or close associates of PEPs Resources Limited), Half Year Report 194 Shark XI is registeredas a non-profit involve reputational risks similar to those for the Six MonthsEnded31 December company(ASBL) , Journal 14-11, with PEPs themselves. " Financial Action Task 2016.http://www.regalresources.com.au/ 15July 2010. Force, The Forty Recommendations . Paris : wp - content/ sharelink / 20170316-2016 Organisation for Economic Cooperation and half-year-report-18967ef90d7d65ce4cb8 195 ReportNo.59631-ZR Democratic Development , 2003 . 9607898a0b86.pdf(last accessed March Republicof CongoBoostingGrowthand 27 2017). The transfer took place in two EmploymentVolumeIII:SectoralStudies 199 Public documents from Pretoria Deeds transactions in July for $1.255million March2011 PovertyReductionand Economic Office provided by online search firm alongwith sharesfor GICC in Nzuriand in Management3 CountryDepartmentAFCCD Windeed . On file with CRG . Novemberfor $ 3 million Africa RegionWorld Bank (draft copy) . 200 Cosha Investments SARL Statutes , 209 Nzuri Copper Ltd. A New 196 United Nations DevelopmentProgram, August 29 , 2014. On file with CRG. Chapter, February2017. http ://www . United NationsSystemAnnualStatistical regalresources.com.au/wp-content/ Report2005. New York: UnitedNations 201 Accordingto the website of Congo's uploads / 2017 / 02 / 170201- Investor-Update DevelopmentProgram, 2006.https:// miningregistry, CAMI,as of January 2017 Capetown - Nzuri- version -FINAL-Rev - 1 www.ungm.org/Areas/Public/Downloads/ pdf (accessed April 27 2017) . Share value ASR_2005.pdf(accessed2 March2017) 202 The stake was reduced from 20% in April , calculated from January 27 2017 price of 2011. Journal Officiel No 7-11, 1 April 2012 . $ 0.225 with a marketcapitalization of $ 42.9 197 The cable did notmentionNumberOne's million,accordingto the Nzuri presentation. affiliationwith Zoé Kabila. US- basedNumber 203 One Time Airlines, Procès-verbal de According to Nzuri'swebsite , GICC's stake One ContractingCorp.was part owned l'Assemblée générale extraordinaire du 28 had reduced to 4.8% as of 27 February by Tim Roman, whowasalso President février 2011. Journal Officiel No 10-11, 15 May 2017, http://nzuricopper.com.au/top-20 Kabila'spersonalpilot and went on to create 2014 shareholders/ accessed14 May 2017) . other companieswith family members, includingWimbi Dira Airlines. NumberOne 204 See http://www.labeviourhotel.com/en/ 210 Regal Resources Ltd. , Media / ASX Contracting'sownershipdocumentsareon (last accessed12January 2017 ) . Release. Kalongwe Project Permit ( PR

44 12198) Transferredto KalongweMiningSA . consultant/messages/ 1104421( Last 224 Paragon ResourcesPLC , Final Results 20June 2014,http://www.asx.com.au/ accessedMarch28, 2017) for the 17 Month Periodto 31 May 2013 asxpdf/ 20140620 / pdf/ . & Appointmentof Director, 30 July 2013 pdf(LastaccessedMarch272017) . Ivanplats 217 Randgold Resources and Moto http://www.paragon-resources.com/pr/ PreliminaryProspectus, 10September2012, Goldmines enter into Business Combination PDF/ rns/ 20130730- FinalResults.pdf( Last p 115, onfilewith CRG 5 August 2009. http ://www.newswire . accessed28 March 2017) ca /news-releases / randgold -resources 211 IvanhoeMines, " IvanhoeMinesissues and-moto -goldmines -enter -into -business 225 http://gicc.cd/ours-services/ fact-based response to Congo Research combination -538155391.html ( last accessed outsourcing accessed1May2017) . Copyof Group on certain business activities in the 28 March 2017 ) webpage on file with CRG DemocraticRepublic of Congo," 15 June 2017. 218 http://giccgroupe.com/Corporate/ 226 BGFI , Demandede Virementfrom 212 http://www.regalresources.com.au/ team.html (last accessed 9 March 2017) . IverlandMiningCongoSarl en faveur de Cosha (lastaccessed27 March2017) Pageon file with CRG InvestmentSprl 30 Decemeber2015, dollars américainstrois millions. Copyon file withCRG . 213 Accordingto CAMI'sminingpermitmap 219 Noventa is now called Paragon Resources asof July 2017 Plc and is no longer part of the joint venture . 227 Arrêté ministériel 183 CAB /MIN / AFF.FONC / 2010 du 17 février 2010 portant 214 GICC's website says it owns PR 707, 220 NOVENTA LIMITED Company Update création d'une parcelle de terre 23 à usage 803 , 804,805 , 806 , and 12112. See http : // 27 June 2012 http://www.paragon agro-pastoral du plan cadastral de la localité de giccgroupe.com/1/concessions.html ( Last resources.com/pr/PDF/rns/GAM-contract Kikwesa , Groupement Shindaika , Secteur de accessed 27 March 2017 ) . The first five announcement- and- production-update Bukanda , Territoire de Kipushi, District du Haut permits were still registered to Ivanhoe Final-27 -June-2012.pdf ( Last accessed 27 Katanga dans la Commune du Katanga .Journal Mines Exploration DRC but were en cours March 2017 ) OfficielNo5-11 March 2010 . de cession totale " as of January 2017 according to the mining registry map . As of 221 Only two of COMINIERE's contracts are 228 The originalshareholdingwas Zoé February 2017 , the CAMI map had changed published on the Mines Ministry website MwanzambalaKabila70% ownership of the permits to GICC . http://mines-rdc.cd/fr/index.php/contrats MwankeAugustin20%/ MulindwaFrancis et -partenariats - cominiere( last accessed 28 Mtwale10% . SPl incorporationdocuments, 215 Moto Goldmines Agrees to Increase March 2017 ) JournalOfficiel, No 12-11,15 June 2006. Interest in the Moto Gold Project and to Placement to Sam Jonah December 222 DecretNo11/ 26 du 20 mai 2011 229 See section above on Ferme Espoir. Ferme 2007 http://www.marketwired.com/ portantobligationde publiertout contrat Espoir incorporationdocuments, Journal Officiel, press -release / moto - goldmines -agrees ayant pourobjet les ressourcesnaturelles. No 11-11,1June 2012.The rest of the money for increase-interest-moto -gold -project Available at http://mines-rdc.cd/fr/ the company came from Katumba Mwanke and placement - sam -jonah - 806434.htm documents/ decret_011_26_pm.pdf Mulindwa Francis Mtwale . (accessed March 28 2017 ) . (accessed 17 May2017). 230 Incorporationof Stramet Congo,Journal 216 Moto Announces Issue of 981,193 223 NOVENTA LIMITED Operations Update Officiel No 15-11 1 August 2010. Shares to Consultant, 31 March 2009 28 November2012 http://www.paragon http://agoracom.com/ir/Moto/forums/ resources.com/pr/PDF/rns/Operations 231 Curriculum Vitae for Moise Ekanga from discussion / topics / 325404 -moto Update- FINAL-28 - Nov-2012.pdf( Last Rebranding Africa Forum, 3eme Edition, announces- issue -of -981-193 -shares-to accessed 27 March 2017 ) Brussels, October 13-15 2016 on file with CRG.

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232 Katanga Premier statutes , 11 June 2012 , Mine Contract." BloombergNews, 3 246 For the most recent public update of the notarized 20 June 2012. Journal Officiel No December2012. Reuters, " IMF halts court dispute see Journal Officiel No 23-1 , 1 January 2014 Congo loan over miningcontract concerns," 1 December 2013 3 December2012. 233 Tanga Logistics& MiningSA , 247 Makolowa Ngoy Kabila alsogoes by ProcèsVerbal de l'AssembléeGénérale http://www.reuters.com/article/congo MakieWangoiinotherfamily company Extraordinairedes Associés, 10 July 2014, democratic - imf- idUSL5E8N3F6G20121203 documentsincludingMamaand No Limits. on file with CRG . See TLM'swebsitehttp:// For Impexincorporation, see Journal www.tlmining.net/index-1.html(Last 241 Tumaleo, who was and may still be OfficielNo 2-11,15January 2013. All other accessed27 March2017) on the boardof the Laurent DesireKabila documentsare on file with CRG Foundation(JournalOfficiel 234 Ivanhoe's website https:// www . 12004), was chairof GomaMining's 248 Shaba Impex archived website pages on ivanhoemines.com/projects/kamoa-kakula managementboardfrom the npany's file with CRG project (last accessed March 27 2017 ) creationin 2005throughat least2013 , accordingto incorporationand court 249 http://m.zr108864974.fm.alibaba.com/ 235 Tom Wilson, Congo Approves Ivanhoe documents. For incorporationdocuments, ( accessed May 14 2017.) Kamoa Stake Sale to Zijin , Ending Dispute, " see JournalOfficielNo 1-11,1January2006. Bloomberg News22 September2015. For JosephineTumaleo'sdirectorship 250 Shaba Impex Articles of Association, through2013 , see JournalOfficielNo 23-1, May 2007 : Journal Officiel No 2-11, 236 IvanhoeMines Press Release, 1 December2013 . 15 January 2013 " IvanhoeMinesAnnouncesFinancial ResultsAnd ReviewOf OperationsFor 242 Thereis, however,anothercompany 251 Cadastre Minier de la République The SecondQuarter 2015," 12 August calledMamathat is ownedby family démocratique du Congo , Repertoire Des 2015.http://www.theglobeandmail.com/ membersincludingGloriaMteyu, Makie Titulaires Des Droits Valides (2015 ). The globe-investor/ news-sources/ ?mid = cc Wangoiand Masengo. MamaSARL Articles registry lists the transactions as shown in nm.20150812.201508121021035001(Last of Association, undated. On file with CRG and the screenshots from the document pasted accessed28 March2017) availableat http://fr.guichetunique.cd/spip. into this report . The mining cadastre also php? article1242(accessed14 May2017) . lists Shaba Impex as the holder of 13115 in 237 Shark - 11 Asbl statutes , 20 July 2007 in December 2014 , making it difficult to know

Journal Officiel No 14-11, 15 July 2010 . 243 Kennesp . 298 when the transaction between Chemaf and Shaba Impex was finalized . 238 Nita Bukani Kabila % Taratibu 244 DRC is ranked156 out of 176 countries

Kabila 25% / Nefertiti Mahanya Kabila25% in TransparencyInternational'sCorruption 252 Emailcorrespondencewith Chemaf, SocieteAketi Articles of Association, 23 May PerceptionsIndex2016http://www. 18 July 2017 2016, on file with CRG transparency.org/news/feature/corruption_ perceptionsindex 2016 , accessed12 253 République démocratique du Congo, 239 A Kazakhcompany that at the time February2017 Certificat d'enregistrement original No was known as Eurasian Natural Resources 181921, December 2007. On file with CRG Corp. and listed on the London Stock 245 Thejoint venture was meant to develop Exchange. Goma 1and Goma2 open pit deposits 254 Le Phare, “ Evoquantla suspicioncontre southwestof Kolwezi, accordingto The les cours et tribunauxde Lubumbashi : 240 Michael Kavanagh, Halts Cobalt News, publishedby The Cobalt Sociétéde Créditfoncierdemandele renvoi Congo Loans Over Failure to Publish Institute, July 2009 p 8. On file with CRG. dejurisdiction," 17 November2010; Willy

46 Kabwe, L'affaire immeuble Betamax à la Group'sannualfinancialstatement, the 268 lverland has a rental contract with base d'une grogne sociale à Lubumbashi," SouthAfrica- basedcompanystill claimed Gecamines for PE 2590,which covers Le Potentiel, 9 April 2008. a net loss of $ millionfor itsCongo Lupoto mine. Cadastre Minier, REPERTOIRE operationsin 2015/2016. VodacomGroup DES TITULAIRES DES DROITS VALIDES 255 Interviewswith plaintiffsin Kinshasa, LimitedIntegratedreportforthe year ended CLOTURE AU 31 DECEMBRE2015. P. 26 November2016 and BrusselsOctober2016 . 31March2016 and VodacomGroupLimited Publiclyavailablecourt documentsshow Consolidatedannualfinancialstatementsfor 269 BGFI,transfer request No 0097446 cases through at least2012. Journal Officiel theyear ended31March2016, p 68. http :// between Iverland Mining Congo SARL and No13-1, 1 July 2012 www.vodacom.com/annual-results.php Cosha Investment SPRL, 30 December2015 . ( last accessedFebruary21,2017.) Onfile On file with CRG . 256 Personal observation by CRG researcher , with CRG September 2016 . 270 http://www.airlineupdate.com/ 261 Telephoneinterviewwith landowner content_public / airlines / airlines - con 257 EuropeanParliamentresolution on the in Goma, December2016;telephone godr / wimbidira.htm (accessed 02 situation in the DemocraticRepublicof the interviewwith landownerin Lubumbashi, March 2017) Aero Transport Data Congo, 28 November 2016; Congo Research 18 December2016; telephoneinterview Bank has a similar list: http :// www. Group, A Perilous Election Battle, 5 August with land ministryofficialin Kinshasa,18 atdb.aero/php/go.php?query=opera 2016 December2016. tor & luck = 1& where = 112540 (accessed 5 March 2017) . 258 For miningpermits, see above; a CRG 262 Accordingto recordsfromthe Mines researcherobservedthe presenceof Ministry'sCentred'Evaluation, d'Expertiseet 271 RepertoireDes DocumentsRélatifsAu RepublicanGuardsat Shaboil, Shaba Impex, de Certificationonfile with CRG . RécensementDes MarchesPublics, et Betamax, and Renzoin Lubumbashi, as 2ème Phaseversés auxArchives, Ministryof well as at the Kateketeminingsite linkedto 263 incorporationdocuments, Journal Financesof the DemocraticRepublicof the Acacia in September2016 . Officiel, No June2006. Congo. Thesedocumentscover government contractssignedin 2010, 2011, and 2012.On 259 See below, p . 38 . 264Report No.59631-ZR Democratic filewith CRG Republicof CongoBoostingGrowth 260 Kavanagh , Michael and Nicky Smith . and EmploymentVolumeIII: Sectoral 272 NationalAssemblyof the Democratic " Vodafone's Congo Unit Faces Fight Over Studies March2011 PovertyReduction Republicof the Congo, Commission Capital Plan . Bloomberg News , April 6 , and EconomicManagement3 Country EconomiqueEt Financiere, RapportRelatif 2010. This is a very crude valuation that DepartmentAFCCDAfrica Region World Au ControleDe L'ExecutionDe La Loi De presumes no extra payments are made to Bank (draftcopy) FinancesDe L'Exercice2009,1erSemestre " Jaynet Kabila's company, Keratsu , and which Palaisdu PeupleKinshasa/ Lingwala, March is based on nothing more than multiplying an 265 Deeddocumentson file withCRG 2010, p . 25. On file with CRG assumed total net present valuation of $1.5b by 4.8% . However, without a contract that 266 DRC2014 shareholding BGFI documents 273 Five Forty DRC and La Petroliere includes the terms of Keratsu's shareholding on file with CRG . DRC executives incorporation documents, Journal Officiel in Vodacom , it is impossible to do an accurate confirmed Mteyu'sshareholdingin a press April 15 2007 valuation . In addition , while Vodacom conference in Kinshasa November2, 2016 Congo has significant revenue (in fiscal 274 Generale Industrielle et Commerciale au year 2015-2016 , its total gross revenue was 267 BGFI Bank Annual Report 2015 pp . 24 Congo (GICC ) Statutes , August 2014. On file about $414 million),according to Vodacom 26. On file with CRG with CRG Allthe President'sWealth

The KabilaFamilyBusiness

275 http://www.regalresources.com. portant Code de conduite de l'agent public de au / wp -content / sharelink / 20170316 l'Etat - Spécial_Code de conduit, published in 2016 - half-year-report-18967ef90d Journal Officiel, 15 August 2004 . 7d65ce4cb89607898a0b86.pdf(last accessed March27 2017 ) . 287 lbid, Article 11 .

276 Randgold Resources and MotoGold 288 Ibid, Article 9.5 . minesenter into Business Combination August 5, 2009. http://www.newswire.ca/ 289 Article 53: Restrictions "Une personne news-releases/ randgold - resources-and -mo et ses sociétés affiliées ne peuvent détenir to - goldmines - enter-into -business-combina plus de cinquante Permis de Recherches " tion -538155391.html( last accessed March A société affiliée is defined by the code as 28 , 2017) a company where more than half the voting rights are held by another company . See 277 Unofficialtranslation 2002 Mining Code Article 1: Definition of Terms , # 47 [FOR REFERENCE : Affiliated 278 Article 98: aux marchés publiques " Company : Any company which directly or indirectly holds more than 50 % of the 279 " compris actions" holder's voting rights or one in which the voting rights are directly or indirectly held 280 " leursbiensimmeubles" by the holder . ]

281 "même majeurs " 290 Loi organiquen ° 11/012du 11aout2011 portant organisation et fonctionnement 282 See , for example , Radio Okapi January 4 des Forces armées Section 9 : De la Garde 2007 on http://www.congoplanete.com/arti- Républicaine : La Garde Républicaine est cle.jsp ? id = 4526680 (last accessed une unité des Forces armées ayant pour 7 April 2016) mission d'assurer la garde, la protection du Présidentde la Républiqueet les hôtes 283 KongoTimes, " Kabiladéclarer ses avoirs : de marquede la République; la sécuritédes Les membresdu gouvernementsous pression." installationsprésidentielles; les escorteset 24January 2012 les honneursà l'échelonde la Présidencede la République. JournalOfficel Special Issue 284 Article 90 Constitutionde la Transition 22 August 2011 Signed in Pretoria17 Dec 2002, (JournalOfficiel NuméroSpécial- 5 avril 2003) 291 FATF ( 2012 ) , International Standards on Combating Money Laundering and the 285 International Monetary Fund 7 February Financing of Terrorism & Proliferation , 2005. Postconflict Economics in Sub -Saharan updated October 2016 , FATF, Paris, France . Africa , Lessons from the Democratic Republic of www.fatf-gafi.org/recommendations.html the Congo ( Jean A. P. Clément , editor) - 291 (accessed 20 February 2017 )

286 Décret- Loi 017/2002 du 3 octobre 2002

48

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Center on International Cooperation New YorkUniversity [email protected]

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