DRC: is the State planning to buy Dan Gertler's assets for $300 million?

DRC: is the State planning to buy Dan Gertler’s assets for $300 million?

ByThe Mwebantu Team

Israeli businessman Dan Gertler, who is currently under US sanctions, is in negotiations with Washington to sell his Congolese assets to Kinshasa for around $300 million, according to the Financial Times.

Dan Gertler, an Israeli billionaire sanctioned by the United States since 2017 for corruption, could thus be authorized to transfer financial assets linked to three mines to the Congolese government. The negotiations involve the businessman, Washington and the Congolese authorities.

Indeed, the Americans aim to facilitate investments by companies consistent with their interests in the DRC by ensuring Gertler’s departure from the country. However, for this deal to come to fruition, sanctions against Gertler must be lifted. Jean-Claude Mputu, spokesperson for the NGO, confirmed that the Congolese government had offered to buy Gertler’s assets for $300 million.

In addition, these 300 million would cover the purchase of the royalties that Gertler still receives from three tin and cobalt mines in the DRC (Kamoto, Mutanda, Metalkol). For civil society, it is unacceptable to pay compensation to Gertler. “Congo should not pay $300 million. Our estimates show that royalties have already earned him $1.9 billion, even though he obtained them illegally through his dealings with former President Joseph Kabila.underlines Jean-Claude Mputu.

However, several players believe that it is unlikely that Gertler will accept this offer. The latter, who has always denied accusations of corruption, could demand an even higher sum.

As a reminder, in 2022, Gertler had agreed to sell its shares in the three mines in Kinshasa, while retaining the associated royalties, up to 2.5% of product sales from each of them, according to the Financial Times.

The Mwebantu Team
The Mwebantu Team

Led by Nia, the insightful editor-in-chief, Kwame, our technology expert, and Amara, the bold field reporter, the Mwebantu team weaves the vibrant narrative of Africa every day, forging a narrative bridge between the continent and the world. Their shared passion illuminates the mission of Mwebantu News, making African voices resonate on the global stage.