DRC's ex-govt 'stole' $1.3bn

2008-07-25 10:55

Kinshasa - An investigation showed that $1.3bn was stolen or lost in corruption and mismanagement of government agencies and state-run businesses in the Democratic Republic of Congo in 2006-2007, reported Reuters.

According to reports, dozens of officials who worked in the post-war transitional government, headed by President Joseph Kabila, were being investigated. Those found guilty would be asked to reimburse money and could face prison, a minister involved in the inquiry said late on Tuesday.

DRC became a by-word for corruption, as it remained mired in poverty and conflict despite its vast wealth, ranging from copper, cobalt and gold mines in the east to swathes of timber in the heart of the country and oil fields in the west.

Relative peace had returned to some parts and foreign investors were flocking to the central African giant after elections in 2006 saw the country reopen for business.

"The result of the work (the investigation) ... so far is ... the discovery that $1.3bn was embezzled or is missing from the earnings," Godefroid Mayobo, minister for the prime minister's office, said.

The government had opened disciplinary proceedings against 53 people believed to be responsible, he added, as he announced preliminary findings of two commissions looking into corruption and the recovery of state assets.

- News24