Read

User menu

Search form

New Panama Papers Series Exposes Secret Deals In Africa

New Panama Papers Series Exposes Secret Deals In Africa
Wed, 7/27/2016 - by Will Fitzgibbon
This article originally appeared on The Center for Public Integrity

New revelations published Monday by the International Consortium of Investigative Journalists (ICIJ), in collaboration with more than a dozen news organizations in Africa, expose fresh details about the misuse of corporate secrecy and hidden wealth in Africa, the world’s poorest continent.

Released nearly four months after ICIJ and more than 100 media partners first published what is now known as the Panama Papers, 11. 5 million files from the Panama-based law firm, Mossack Fonseca, today’s investigations include new details about the middleman at the center of a probe into hundreds of millions of dollars in suspected bribes paid for oil and gas contracts awarded in Algeria.

The files also reveal the offshore assets, including a luxury yacht and jet, of a Nigerian aviation and oil magnate who is reportedly close to a former oil minister and has recently had some of his assets seized as part of a $1.8 billion probe into oil sales.

The revelations published by ICIJ and media partners include investigations from countries that are being examined for the first time, including Tanzania, Burkina Faso, Ghana, Mozambique and Togo.

Companies in 52 of Africa’s 54 countries used offshore companies created by Mossack Fonseca, a law firm that specializes in creating companies often sold and used for anonymity or lower taxes. In 44 countries, offshore companies were used to assist oil, gas and mining deals and exports, concerning advocates and governments in a continent where many nations rely on revenue from natural resources.

In total, the Panama Papers include more than 1,400 companies whose names alone indicate activity in the extractive industries. Although many of these companies do legitimate business, ICIJ identified 37 companies within the Panama Papers that have been named in court actions or government investigations involving natural resources in Africa.

In the oil-rich North African country of Algeria, for example, investigations continue into nearly $275 million in alleged bribes paid through a cluster of offshore companies to secure energy contracts. Twelve of the 17 offshore companies listed by Italian prosecutors as belonging to the alleged middleman, Farid Bedjaoui, were set up by Mossack Fonseca. Italian investigators described one of those companies, Minkle Consultants S.A., as a “crossroads of illicit financial flows” that channeled millions of dollars from subcontractors to an array of recipients whose identities are still being untangled.

In a written response to ICIJ, Mossack Fonseca said it follows “both the letter and spirit of the law. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. We’re proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.”

The release of today’s investigations is a major collaboration of media organizations in Africa that range from traditional newspapers in Namibia, to popular radio stations in Ghana and to innovative start-up websites in Morocco. The reporting partners include journalists who have previously published stories as part of Panama Papers as well as journalists from Ghana, Tanzania, Niger, Mozambique, Mauritius Burkina Faso and Togo who are publishing stories for the first time. Many of the journalists worked in collaboration, exchanging contact information and court documents and with the editorial assistance of the African Network of Centers for Investigative Reporting, an ICIJ partner.

Originally published by The Center for Public Integrity

3 WAYS TO SHOW YOUR SUPPORT

ONE-TIME DONATION

Just use the simple form below to make a single direct donation.

DONATE NOW

MONTHLY DONATION

Be a sustaining sponsor. Give a reacurring monthly donation at any level.

GET SOME MERCH!

Now you can wear your support too! From T-Shirts to tote bags.

SHOP TODAY

Sign Up

Article Tabs

Over the next two years, Democrats have the unfettered ability to be an albatross around the neck of the GOP — and to make sure that what little they manage to get done due to their paper-thin majorities becomes the reason for their undoing.

This last month has shown America that society will gladly tolerate vigilante violence, provided a vigilante chooses the right target.

President-elect Donald Trump isn’t just appointing incompetent buffoons to his Cabinet, but deeply immoral individuals who are completely lacking in family values.

Biden cared more about the appearance of having an independent DOJ untainted by politics than he did about holding an unrepentant criminal ex-president accountable.

The American people clearly spoke, and the drubbing Democrats received requires looking beyond just issue polls, voting patterns, campaign strategy, or get-out-the-vote tactics.

Over the next two years, Democrats have the unfettered ability to be an albatross around the neck of the GOP — and to make sure that what little they manage to get done due to their paper-thin majorities becomes the reason for their undoing.

This last month has shown America that society will gladly tolerate vigilante violence, provided a vigilante chooses the right target.

If the Democrats’ theme of 2017 was Resistance, the theme for Democrats in 2025 needs to instead be Opposition — and these two GOP senators may be the models to emulate.

President-elect Donald Trump isn’t just appointing incompetent buffoons to his Cabinet, but deeply immoral individuals who are completely lacking in family values.

Biden cared more about the appearance of having an independent DOJ untainted by politics than he did about holding an unrepentant criminal ex-president accountable.

This last month has shown America that society will gladly tolerate vigilante violence, provided a vigilante chooses the right target.

Posted 1 month 1 week ago

Biden cared more about the appearance of having an independent DOJ untainted by politics than he did about holding an unrepentant criminal ex-president accountable.

Posted 1 month 4 weeks ago

President-elect Donald Trump isn’t just appointing incompetent buffoons to his Cabinet, but deeply immoral individuals who are completely lacking in family values.

Posted 1 month 2 weeks ago

If the Democrats’ theme of 2017 was Resistance, the theme for Democrats in 2025 needs to instead be Opposition — and these two GOP senators may be the models to emulate.

Posted 1 month 2 weeks ago

Over the next two years, Democrats have the unfettered ability to be an albatross around the neck of the GOP — and to make sure that what little they manage to get done due to their paper-thin majorities becomes the reason for their undoing.

Posted 1 week 5 days ago