Audio By Carbonatix
Congo President Joseph Kabila and his family own stakes in more than 80 companies at home and abroad that are likely worth 10s of millions of dollars, a report by a U.S.-based body said on Thursday.
The report by the Congo Research Group at New York University is based almost entirely on public records like land titles and incorporation documents. It is the most comprehensive mapping to date of Kabila and his family's fortune after two decades in charge of Africa's top copper producer.
[click here for the full map]
Reuters was not immediately able to independently confirm the information in the report, which does not allege wrongdoing by Kabila. The president is barred by Democratic Republic of Congo's constitution from being involved in a professional activity but not from owning companies or making investments.
"No one is barred from having assets because he is from the Kabila family," government spokesman Lambert Mende told Reuters.
"If someone thinks that (Kabila) committed an objectionable act related to those assets, (that person) can address the justice system."
Before Kabila's father, Laurent-Desire, came to power in 1997, he and his family lived in exile in Tanzania, where, according to the report and other accounts, the family struggled financially.
Now, the Kabila family's holdings include over 70,000 hectares of farmland, a lucrative stake in Congo's largest mobile phone network and over 100 mining permits for diamonds and gold, the report said.
"A conservative reading of public documents suggests that their companies have had hundreds of millions of dollars in revenues since 2003, and that they own assets that are easily worth many tens of millions of dollars," the report said.
Kabila, who succeeded his assassinated father in 2001, refused to step down when his mandate expired last December, citing budgetary constraints and delays enrolling voters for an election to replace him.
Congo Research Group is a non-profit body directed by Jason Stearns, a former U.N. investigator in Congo and author of a well-known book about Congo's civil wars.
Latest Stories
-
Ghana handed tricky draw at 2026 Amputee World Cup
2 minutes -
2024 Nyankpala election violence: Youth group petitions authorities over slow probe
6 minutes -
Ghana, UNICEF strengthen partnership to advance child protection
30 minutes -
Day Two of 3rd Republic Bank-JoyNews Habitat Fair ends with great homeownership offers and financing solutions
34 minutes -
Guinness Ghana DJ Awards 2026 Pub Fest celebrates Ghana’s DJ culture as Accra turns up the energy
52 minutes -
10th woman found dead in South Africa’s string of killings
52 minutes -
French Embassy trains Ghana Police CTU in counter-terrorism operations
1 hour -
UPSA uncovers mass results manipulation involving 178 students, over 500 results compromised
2 hours -
ECG announces planned power outages in parts of Tema from Sept. 29 to October 1
2 hours -
Sylvester Mensah urges Latenu FM to promote trade, export opportunities in Ga
3 hours -
Ga language under threat of decline as children shy away from speaking it – Sylvester Mensah
3 hours -
‘Let every Ga child you raise know the Ga language and story’ – Sylvester Mensah
3 hours -
‘We are not deterred’ – Ablakwa responds to backlash over South Africa evacuation
3 hours -
Day Two: Republic Bank-JoyNews Habitat Fair gains momentum at Junction Mall
3 hours -
NCA announces major voice and data disruption across Northern Ghana due to fibre cuts
3 hours