American Firm Center-Ville Group Partners with MIBA in $45 Million Deal in DRC
Center-Ville Group, an American firm, has inked a partnership agreement with Bakuanga Mining Company (MIBA) in Kinshasa, totaling $45 million.
According to a press release by MIBA’s Chairman of the Board of Directors and Director-General, the contract, structured as a loan, is intended to finance MIBA’s minimum recovery plan for diamond marketing.
The funds, repayable over a seven-year period at a 3% annual interest rate, aim to bolster diamond sales both domestically and internationally.
MIBA’s management views the partnership as an opportunity to optimize diamond sales and maximize profits, with equal sharing between the two companies.
However, some analysts express skepticism regarding the agreement, citing concerns about the absence of minority shareholder SIBEKA during the signing.
Additionally, they highlight the lack of representation of Center-Ville Group in the Democratic Republic of Congo and the unavailability of information about the company on Google.
