The Democratic Republic of Congo’s state-owned copper and cobalt miner, Gecamines is challenging a ruling by a local court that it owes an Israeli billionaire, Dan Gertler, a $168 million loan.
Gertler’s Fleurette Mumi Holdings Ltd. offered a 200 million-euro line of credit to Gecamines in October 2017, two months before he was sanctioned by the U.S. government for alleged corruption related to Congo deals.
Gecamines announced in a statement that Fleurette Mumi has since changed its name to Ventora Development Sasu, one of Gertler’s companies, following the sanction.
Last month, a Lubumbashi-based commercial court ordered Gecamines to repay the principal loan and interest to Ventora Development Sasu, one of Gertler’s companies singled out by the U.S. sanctions.
Copyright: News Central TV
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.