In an open letter addressed to the Minister of Mining, the organization emphasizes the importance of disclosing information about how the fund's revenues are managed in order to increase transparency and strengthen the trust of citizens. According to La Sentinelle, the recent appointment of new FOMIN leaders provides an opportunity to understand the numerous issues related to the management of this structure, created to preserve part of the income from mining for the benefit of future generations.
A non-profit organization dealing with management issues in the mining industry recalls that eight years after the Foundation was established, Congolese citizens still do not have sufficient information about the actual income received, investments made, expenses incurred and profits received.
In its appeal, the organization condemns the management, which, in its opinion, remains opaque and contradicts the requirements of openness established by the decree on the status, structure and functioning of FOMIN. In particular, she notes the lack of publication of independent audit reports, financial statements, as well as detailed information on funded projects and investment performance. «None of these data or documents were provided by FOMIN's management», La Sentinelle complains, believing that this situation deprives citizens of the right to know how the proceeds from the extraction of resources intended for future generations are used. This civic organization provides examples of several allocations made to the Fund in recent years: $100 million for the construction of the Katende hydroelectric power plant, $100 million invested in bonds from the Central Bank of the Congo, $17 million for the renovation of the CEEC laboratory, $50 million invested in DRC Gold Trading SA, as well as other professional development projects. education and mining industry.
According to La Sentinelle, a significant portion of these investments were made without a clear investment strategy or preliminary research available to the public. This situation puts the Fund at risk of ineffective management and failure to fulfill its main task. «The transfer of wealth to future generations is impossible without strict governance and adherence to the principles of transparency and accountability», the organization emphasizes, calling on the Ministry of Mining to take immediate action.
Given these concerns, she calls on the Minister of Mining to immediately initiate an independent audit to assess the Fund's resource management, establish accountability, and ensure that mining revenues intended for future generations are used for their intended purpose. This statement was made at a time when FOMIN received a new leadership team, appointed on June 3 by presidential decree, which was announced on national television. Kalaa Mpinga became Chairman of the Board of Directors, Godard Motemona assumed the position of CEO, and Eugene Bunga was appointed Deputy CEO.
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