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

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.

The recent decisions by two of the most influential national newspapers of record to not publish their endorsements of Vice President Kamala Harris says a lot about how seriously they take Trump’s threats to democracy and his promises of vengeance against his enemies.

On the eve of the historic November vote, it seems important to ask: What's wrong with men, how did we get here, and can we change this?

As Trump’s campaign grows increasingly bizarre, his team appears to be more tightly controlling his movements and carefully scripting his public appearances to minimize the negative impact his erratic behavior may have on undecided voters in swing states.

Throughout history, fascist governments have had a similar reliance on the use of lies as a weapon to take and retain power.

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.

The recent decisions by two of the most influential national newspapers of record to not publish their endorsements of Vice President Kamala Harris says a lot about how seriously they take Trump’s threats to democracy and his promises of vengeance against his enemies.

On the eve of the historic November vote, it seems important to ask: What's wrong with men, how did we get here, and can we change this?

As Trump’s campaign grows increasingly bizarre, his team appears to be more tightly controlling his movements and carefully scripting his public appearances to minimize the negative impact his erratic behavior may have on undecided voters in swing states.

Throughout history, fascist governments have had a similar reliance on the use of lies as a weapon to take and retain power.

On the eve of the historic November vote, it seems important to ask: What's wrong with men, how did we get here, and can we change this?

Posted 3 weeks 3 days ago

Former President Donald Trump is now openly fantasizing about deputizing death squads against Americans.

Posted 1 month 1 week ago

The 2024 Republican ticket’s incitement of violence against Haitian migrants in Springfield, Ohio, is revealing in more ways than one.

Posted 1 month 3 weeks ago

Throughout history, fascist governments have had a similar reliance on the use of lies as a weapon to take and retain power.

Posted 1 month 6 days ago

What Britain needs now is more politics, not more police.

Posted 1 month 3 weeks ago

On the eve of the historic November vote, it seems important to ask: What's wrong with men, how did we get here, and can we change this?

The recent decisions by two of the most influential national newspapers of record to not publish their endorsements of Vice President Kamala Harris says a lot about how seriously they take Trump’s threats to democracy and his promises of vengeance against his enemies.