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DRC: four truths around the « IGF » mission on the $ 15 million haircut!

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DRC: four truths around the "IGF" mission on the $ 15 million haircut!

[ANALYSIS] – The investigation by the Inspectorate General of Finance (IGF) is « irregular. » The transfer of the $ 15 million of the discount to be paid into the accounts of the Petroleum Products Price Monitoring Committee is « illegal. The financial advisor at the Ministry of the Economy and the Secretary General for the Economy are the only accountants to justify the funds collected. Finally, the chief adviser of the Head of State at the Economic College who supervised this mission did not have the quality to commit his hierarchy in this process of violation of procedures.

This is essentially what should be remembered in the process of control of payment of losses and shortfalls of oil companies made by the General Inspectorate of Finance (IGF) last July.

What about the $ 100 million credit?
Following the Government’s request made on 16 May 2019 by the outgoing Minister of National Economy in his attributions, by his letter of 16 May 2019, a credit line of 100 million USD was opened by the BCC at two commercial banks to disengage oil companies.

According to the report of the IGF, this down payment to be deducted from the overall envelope of their debts valued at 267 million USD is due to the tankers for losses and loss of profits. The latter result in particular from the non-actualization, at their actual values, of the main parameters of the fuel price structure. Added to this are the revenues collected from security stocks, products delivered to Transco, claims from oil-producing shipowners and deliveries to government services that have been included in cross-debts.

If the SEP could not provide clearing documents to verify these balances, the IGF inspectors found it difficult to confirm the amount certified by the Petroleum Products Price Monitoring Committee. .

Illegal transfer of 15% to the CSPPP
According to the IGF, the Petroleum Products Price Monitoring Committee has unduly benefited from the 15% of the amount granted to each mining company. If this share of the haircut fell to the public treasury under « Parafiscal », the CSPP was entitled to only 5% of the total receivables.

As a result, the inspectors found an irregularity that violates the legal and regulatory provisions governing public finances as long as there has been a change of destination of these funds comparable to the non-deduction of the discount in the credit granted by the Treasury. public.

« Given the discount obtained from the oil companies, the credit granted to the State should be 85 million USD corresponding to the net actually paid to tankers. State ownership of the haircut and the related interests entail a loss to the public treasury of about $ 18 million if the state credit was $ 85 million, « reads the report. report.

Two collectors of identified funds

The adviser in charge of financial affairs and strategic products at the Cabinet Ministry of Economy, Georges Yamba Ngoie and the Secretary General for the Economy, Célestin Twite Yamwebo are, according to the IGF the only accounting of the justification of funds collected on behalf of the said Committee.

Between May 26 and June 7, 2019, they made cash outflows of US $ 14,775,000 on behalf of the Petroleum Products Price Monitoring Committee.

This diverted money, reports the IGF, has landed respectively in two accounts (USD and CDF) of the Petroleum Products Price Monitoring Committee and in two other accounts (USD and CDF) of the Ministry of National Economy.

The said report indicates nowhere that the chief of staff of the Head of State, Vital Kamerhe, or the Congolese State Treasury or any member of the Presidency of the Republic has received this money after an approach begun since 2017.

Quality defect of the Senior Adviser
Experts in public finance are of the opinion that the IGF, as an instrument in the service of the Presidency of the Republic, can only seize a file with the express authorization of the Cabinet, on the instruction of the President of the Republic. In this case, the chief adviser of the Head of State at the Economic College who ordered this mission was not qualified.

This is a flagrant usurpation of power and a proven indiscipline in the head of Marcellin Bilomba, bordering his deliberate refusal to refer to his hierarchy to regularize the approach of the Inspectorate General of Finance.

Alas, deplore informed analysts, this adviser to the President of the Republic has obviously trained a whole body of trades to the commission of professional misconduct that discredits at the same time he improvised « inspector of finance. »

It is also he who would be singled out as the one who is keen to force Vital Kamerhre out of the office of the head of state’s cabinet. Hence, some analysts believe, the meaning of the series of cabals and the relentlessness that tend to make disturbing proposals.

In this regard, voices are raised to urge the head of state to get rid of such collaborators who tarnish the image of the Presidency of the Republic and desecrate the first institution of the country.

Therefore, it is time for him to restore discipline in his ranks.

Emilie MBOYO

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Kinshasa: the Presidential Clinic with a new Pavilion

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Kinshasa: the Presidential Clinic with a new Pavilion

The Presidential Clinic of the Cité de l’Union africaine has a new Pavilion. This building, named after the First Lady of the Republic, Denise Nyakeru Tshisekedi, was inaugurated on Wednesday, September 11, 2019 in Kinshasa, capital of the Democratic Republic of Congo.

The Denise Nyakeru Tshisekedi Pavilion is equipped with the latest generation of state-of-the-art equipment capable of treating a maximum of 100 patients per day. It includes two hospital rooms, two consultation booths, a sampling room, a laboratory and a reception area equipped with 25 seats.

Kinshasa: the Presidential Clinic with a new Pavilion

Two highlights marked the inauguration ceremony presided over by the First Lady.

First of all, the occasional word from the medical director, Dr. Joseph Kangudia Mbaya, who paid tribute to the Head of State, Felix-Antoine Tshisekedi Tshilombo, for his clearly expressed commitment to the country’s overall development, particularly in the health and well-being sector.

This Brigade general indicated that the inauguration of the Denise Nyakeru Tshisekedi Pavilion is in line with the logic of continuing the materialization of an old project to provide the presidential clinic with the necessary and modern infrastructure for its proper functioning.

The symbolic ribbon was cut by the First Lady to the frenetic applause of the medical staff and patients present at the site.

Kinshasa: the Presidential Clinic with a new Pavilion

This ceremony ended with a visit to the various departments of the new pavilion. Denise Nyakeru Tshisekedi signed the guest book marking her visit to the African Union Presidential Clinic, the second since the inauguration of her husband, Head of State Felix Tshisekedi Tshilombo.

Nadine FULA

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DRC: ARCA reminds the respect of article 286 of the Insurance Code!

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DRC: ARCA reminds the respect of article 286 of the Insurance Code!

DOCUMENT] – The Insurance Regulatory and Control Authority (ARCA) in the Democratic Republic of Congo reminds us of the scrupulous respect of article 286 of Law No. 15/005 of 17 March 2015 on the Insurance Code. It published a circular note on 6 September 2019 for the attention of authorised insurance operators. Below, the content:

DRC: ARCA reminds the respect of article 286 of the Insurance Code!

DRC: ARCA reminds the respect of article 286 of the Insurance Code!

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DRC: Bussa notes the invalidity of the orders issued by the temporary worker in Foreign Trade

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DRC: Bussa notes the invalidity of the orders issued by the temporary worker in Foreign Trade

Foreign Trade Minister Jean-Lucien Bussa Tongba has just put an end to a series of flagrant irregularities in certain acts committed during the interim period. The latter violated the Prime Minister’s formal injunction given to the temporary workers on 22 March 2019 to refrain from making arrests pending the installation of the new Government.

Legalistic, the new Minister of Foreign Trade found in the remission files and repeated a series of ministerial orders issued during this period of current business being conducted by the acting minister.

Without, however, annulling them by a contrary act, Jean-Lucien Bussa merely declared them invalid. This means that they are considered null and void.

« Any economic operator concerned by these provisions is requested, as of today, to contact the services of the office of the Minister of Foreign Trade for a review of the files in accordance with the regulations in force« , according to an official press release dated 10 September 2019 received by Zoom Eco.

For Minister Jean – Lucien Bussa, it is a question of maintaining the momentum of the business climate through efficient regulation of imports and exports, in the best interests of the Republic.

It therefore invites the Secretary General for Foreign Trade, the General Directorate of Customs and Excise (DGDA), the Congolese Control Authority (OCC), the General Directorate of Migration (DGM) and the Directorate of the National Programme for Border Hygiene (PNHF), each in its own right, to comply with these provisions and to ensure their prompt implementation.

Emilie MBOYO

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