Post link 18 April 2016, 16:53
Steve Shepperson-Smith, a spokesman for Vodafone Plc, which owns 65 percent of Vodacom Group, declined to comment. Vodacom Congo Chief Executive Officer Murielle Lorilloux said by phone the company would analyze the information at a group level before responding.

“We need to study the content of the Panama Papers and are giving this our full attention,” Byron Kennedy, a spokesman for Vodacom, said in an e-mailed response to questions.

‘Rare Glimpse’

The International Consortium of Investigative Journalists on April 3 separately published two documents leaked from Panamanian law firm Mossack Fonseca, identifying Kabila as a director of Keratsu. One is a copy of e-mails from 2001 and the other is an undated e-mail text file that appears to be written after 2013. Neither could be independently verified by Bloomberg.“Jaynet Kabila’s stake in Vodacom offers a rare glimpse into what we assume is a large and diverse array of assets owned by the president’s family,” Jason Stearns, a senior fellow at the New York University-based Center on International Cooperation peace and security think tank, said in an e-mailed response to questions. Stearns is the author of a book on Congo titled “Dancing in the Glory of Monsters: The Collapse of the Congo and the Great War of Africa.”
The ICIJ said it had been leaked 11.5 million records outlining the creation of more than 200,000 offshore shell companies related to Mossack Fonseca. The cache includes offshore companies linked to 12 current and former world leaders, as well as hidden financial dealings by 128 more politicians and public officials, according to the ICIJ.

‘Illegal Acts’

In a statement, Mossack Fonseca said it “does not foster or promote illegal acts” and that the group’s allegations that it provides shareholders with structures “supposedly designed to hide the identity of the real owners are completely unsupported and false.” Mossack Fonseca co-founder Jurgen Mossack said in an interview on Monday the firm had been hacked and that its clients had been notified.
Using shell companies can be, and often is, legal and legitimate.

Keratsu holds its Vodacom Congo stake through its 19.6 percent indirect holding in Congolese Wireless Network Sprl, according to company documents. CWN owns 49 percent of Vodacom Congo. Keratsu’s holding amounts to an indirect 4.8 percent stake in Vodacom Congo for Kabila. Vodacom Congo was created less than six months after Keratsu’s incorporation in Niue in June 2001.
South Africa-based Vodacom Group owns 51 percent of Vodacom Congo. The unit’s subscriber numbers rose 14 percent to 11.9 million in the year through June, 2015.

‘Right to Work’

When Keratsu co-director Feruzi Kalume Nyembwe was asked by phone on Monday about Kabila’s stake in Keratsu, he responded:
“Each person has the right to set up a company and to work. If not, we would have to leave the large multinationals to have the companies in Congo. It would only be them and that would be unacceptable.” Kalume Nyembwe declined to confirm whether Kabila was a Keratsu shareholder.
Jaynet Kabila was elected to parliament in 2011. She also heads the foundation of her late father, Laurent. The Keratsu incorporation documents don’t use the name she uses in public. They refer to her as J. Ursula Kyungu, a name she uses in other company records. In her Lubakat culture, first-born twins are sometimes called Kyungu, while second-born twins are called Kabange, which is her brother’s third name. Her date of birth in the documents matches her brother’s.
MAP: Niue Bloomberg

Vodacom Chairman Peter Moyo, in a November interview with Bloomberg, said he only knew that CWN and its subsidiaries were shareholders, not which individuals had stakes in those companies. “CWN has got quite a lot of other shareholders,” Moyo said. “It’s got some American shareholders, it’s got some Congolese shareholders.”

Asked directly whether Jaynet Kabila was a shareholder, he responded: “Our shareholders are CWN and Vodacom International.” Moyo didn’t respond to a call and a text message on Monday. 1
Topic edited 1 times, last edit by RouTe, 18 April 2016, 16:57  

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