Skip to content

Sanctioned Billionaire Finds a Haven in Tiny Congolese Bank

A year ago in June, a group of bankers marched into a U.S. Treasury office in Washington on perhaps the most important mission of their careers: to save a country from financial collapse. Among them was Willy Mulamba, Citigroup Inc.’s top executive in the Democratic Republic of Congo, a resource-rich but devastatingly poor nation in central Africa. Mulamba, a 51-year-old Congolese banker who had returned home after years abroad, was part of a small team desperate to dissuade Treasury officials from cutting the nation off from the U.S. banking system. In January 2018, a few weeks after the U.S. imposed sanctions on Gertler, a family friend named Shlomo Abihassira had walked into Afriland’s Kinshasa headquarters and opened an account for a newly registered company with the unpronounceable name RDHAGD Sarlu, bank documents show. Over the next five months, Abihassira, who lives in Israel, made 17 deposits totaling $19 million. That August, he transferred the funds in one go to another Afriland account registered to a company called Dorta Invest SAU, according to bank records.

SOURCE: BLOOMBERG

Subscribe

Stay informed and ahead of the game with our curated collection of the top 10 stories from Africa each day, Monday, Tuesday, Wednesday, and Thursday. On Fridays, gear up for the business world as we bring you the 10 most relevant and game-changing business stories. And on Sundays, prepare to be whisked away on a delightful journey through Africa’s vibrant lifestyle and travel scenes.