Picture of Tradelink Electronic Commerce logo

536 Tradelink Electronic Commerce News Story

0.000.00%
hk flag iconLast trade - 00:00
TechnologyConservativeSmall CapContrarian

Congo to audit forest concessions, suspend 'questionable contracts'

By Hereward Holland
    KINSHASA, Oct 16 (Reuters) - President Felix Tshisekedi has
called for an audit of Democratic Republic of Congo's vast
forest concessions and the suspension of all "questionable
contracts" until the audit is concluded.
    Home to 60% of the world's second largest rainforest, Congo
plays a critical role in regulating Earth's climate but
conservation groups say corruption and poor governance make its
forests vulnerable to expanding agriculture and illegal logging.
    Tshisekedi said he wanted to examine the legality of several
contracts, including one granted in September 2020 covering
about 1.4 million hectares.
    On Sept. 12 last year, former Environment Minister Claude
Nyamugabo awarded six concessions to Tradelink SARL, a Congolese
company, covering a total of 1.38 million hectares.
    Tradelink's concessions exceed the 500,000 ha limit
permitted per company, Tshisekedi told ministers late on Friday,
according to minutes of the meeting published on Saturday.
    Tradelink and Nyamugabo could not immediately be reached for
comment.  
    Tshisekedi asked environment minister Eve Bazaiba "to take
stock of the exact locations and finances of all forest
concessions in the DRC, and suspend all questionable contracts
pending the outcome of the audit," the minutes said. 
    Irene Wabiwa, a representative of environmental group
Greenpeace, said the request for an audit was a "very good
thing" and hoped it would be carried out by an independent
commission.
    "Even if it's a bit late, it's better late than never," she
told Reuters. 
     In July, Bazaiba announced plans to lift a 19-year
moratorium on new industrial logging concessions, create a
regulator for the country's carbon market and reconcile data
between agencies involved in the environmental sector.
    Environmental campaigners worried that lifting the
moratorium would open up millions of hectares of forests to
industrial logging. Bazaiba said the move would help Congo
improve governance of the environment.

 (Reporting by Hereward Holland, Editing by Bate Felix and
Timothy Heritage)
 ((hereward.holland@thomsonreuters.com; +254 20 499 1232;
Reuters Messaging:
hereward.holland.thomsonreuters.com@reuters.net))

Recent news on Tradelink Electronic Commerce

See all news