HomeBreaking NewsGOVERNOR IMPLICATED: Anti-Graft Body Reports Congo Central Bank Governor for Embezzlement

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GOVERNOR IMPLICATED: Anti-Graft Body Reports Congo Central Bank Governor for Embezzlement

July 23, 2024

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Democratic Republic of Congo’s central bank, Banque Centrale du Congo (BCC) Governor Malangu Kabedi Mbuyi has been reported to the authorities by the Anti-Corruption Association for embezzlement of public funds.

According to the Anti-Corruption Association’s report Kabedi connived with former Finance Minister Nicolas Kazadi to divert public funds from the BCC to their personal accounts.

The Anti-Corruption Association claim Kabedi had benefited US$27 million from the illicit transaction which was conducted between December 2022 and January 2023.

Kabedi is likely to be admitted to answer to these allegations alongside Kazadi who has already been implicated in another financial illegality related scandal.

Kazadi is accused of embezzling public funds amounting to over US$413 million in borehole and street lighting projects deals which were never carried out.

He has since had his personal accounts freezed and had earlier been banned from leaving the DR Congo.

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