150 million USD needed for the relaunch of MIBA in the DRC

Formerly the flagship of the economy of the Democratic Republic of Congo, Minière de Bakwanga (MIBA) fell into a black hole several years ago.

To allow this Congolese company to replay its former role, an investment of nearly 150 million US dollars is necessary.

This need was expressed by the delegation of the Steering Committee and Reform of Public Enterprises (COPIREP), which stayed in Mbuji-Mayi, capital of Kasai Oriental since March 6 to inquire about the situation of this company. of the Congolese State Portfolio.

Led by Alex Nkusu, Executive Secretary of COPIREP, the delegation has drawn up, together with the authorities of MIBA, a structural recovery plan requested by the Government of the Republic.

According to Alex Nkusu, this emergency plan for the revival of MIBA drawn up by this joint COPIREP-MIBA Committee is valued at nearly 150 million USD.

“This joint recovery plan (COPIREP-MIBA) is estimated at nearly 150 million USD. We should be optimistic. Today, there is a small production, it is necessary that other hands come to join this company which made not only the pride of Kasaï Oriental, but also of the Democratic Republic of Congo. “, he confided to the press.

For his part, the Acting Director General of MIBA indicated that this elaborate emergency plan contains all the necessary information on the current situation of MIBA and the appropriate solutions to promote its relaunch.

According to Danny Mukendi, an expert in the mining sector, the Congolese state is itself responsible for the situation that this public company is going through.
He indicates that the MIBA drags a social debt evaluated between 250 and 260 million dollars. That of suppliers is in the same proportions.

Today, MIBA’s real debt is valued at between 450 and 500 million US dollars.

Speaking on Radio Top Congo FM, Danny Mukendi estimated that this debt situation in which MIBA finds itself means that each time it should sell its diamonds in a normal channel, its creditors can seize of justice, the said stones.