Africa: Bolloré targeted by a complaint for money laundering

The collective Restitutiofor Africa, which brings together 11 NGOs from six African countries, has lodged a complaint against the Bolloré group and its founder Vincent Bolloré with the Parquet national financier (PNF) in Paris.

They accuse the French group of recealment and money laundering, particularly in the management of African ports.

The NGOs are denouncing the resale in 2022 of Bolloré’s logistics activities in Africa, a transaction estimated to be worth more than 5 billion euros. According to them, these port infrastructures were developed thanks to undue advantages and questionable practices, before being resold with an enormous capital gain. They refer to this as ‘reverse ill-gotten gains’ and are demanding that these funds benefit the countries concerned, in particular Cameroon, Togo, Guinea, Ghana, Ibory Coast and the DRC.

This complaint marks a new stage in the challenge to Bolloré’s historic role in Africa. For decades, the group has been a key player in trade and logistics on the continent, controlling several strategic ports. In 2021, Vincent Bolloré admitted to corrupt practices before the French courts in order to obtain port concessions in West Africa. The collective intends to push for ‘more ethical international trade’ and is calling for greater transparency in the operations of multinationals in Africa.

source: EcoMatin