The man who became billionaire thanks to Africa minerals resource

Dan Gertler is an Israeli billionaire who made his fortune in Congo's vast mineral trade. He's just 38 years old and friend of President of Democrat Republic of Congo, Joseph Kabila. Mr Gertler says he deserves a Nobel Prizes because Congo needs people like him who are investing their money in country. According to Mr Gertler arrogance "They need people like us, who come and put billions in the ground. Without this, the resources are worth nothing."

But he is in fact making one the world's poorest countries even poorer buy taking the most resources out of country without benefit of local population.

How he become President's friend
Dan Gertler
Dan Gertler is getting richer but congolese
people are getting poorer.

In 1997 when Mobutu Sese Seko former President of DR Congo then it was called Zaire has been overthrow from power after three decades by Laurent Kabila the father of incumbent President Joseph Kabila. However, Laurent Kabila renamed Zaire to Democratic Republic of Congo (DRC) but he still not in control fully of country, he desperately needs funds to continue his push. There comes Mr Dan Gerter, by then just 23 year old the diamond trader, having learnt the trader at foot his father and grandfather, he had been buying diamonds in war torn Angola and Liberia, and flying them to wealth trading centres of the US, Israel and India.

After he arrived in the City of Kinshasa capital of Congo, he secured an introduction to Laurent Kabila's son by the city's chief rabbi. Also in his twenties, Joseph Kabila had recently been made the leader of his father's army. Dan Gertler was taking an increasing big role in the family diamond empire.

Joseph Kabila soon introduced Dan Gertler to his father who recognised in the rich Israeli a quick way to fund his war. According to Mr Gertler Laurent made him an offer, "get me $20m in cash to fund my fight, and I give you a monopoly over Congo's diamond sales". In few days Mr Gertler managed to raise the money and deposited it into Congo's central Bank account in Switzerland.

Doing Business in Congo

Although Laurent was assassinated by a body guard in 2001 and diamond monopoly was later rescinded, Mr Gertler's influence on Joseph also proved incredibly lucrative as he took over from his father after assassination.
 DanGertler in Joseph Kabiala's wedding
Dan Gertler in Joseph Kabila's wedding

Today, largely thanks to the exploitation of the Congo's huge mineral rights, Mr Gertler is one of the richest men in the World, with fortune of more than $2 billion. Thanks to his friendship with Joseph Kabila Mr Gertler take mineral as low price and sale them on to West countries and often British companies at a huge profit. According to Global witness organisation corrupt Congolese official could be benefiting from such deals.

He also involved in different type of business let look to this scenario where Mr Gerlter made big profit in one case. he earned a 500 percent return in just six months without risking a single penny as the middleman in a deal for Societe Miniere de Kabolela & Kipese SPRL, or SMKK, which owns a copper and cobalt deposit in the heart of Katanga's richest mining zone.

In 2009, SMKK was half-owned by the state's Gecamines, short for La Generale des Carrieres & des Mines, and half-owned by ENRC, the Kazakh-founded mining company that's listed on the London Stock Exchange.

In February 2010, Gecamines agreed to sell its shares in SMKK to Gertler's Emerald Star for $15 million, according to the sales agreement published by the mines ministry. Four months later, ENRC completed the transaction by buying Gertler's Emerald Star for $50 million paying a total of $75 million, or five times the price Gertler paid for the asset. Gertler says it's not his fault if the government didn't get a good price for its SMKK holding.

"That is what we know how to do better than anyone else: We know how to maximize value for our projects," Gertler says. "If the government would like to hire my services to maximize value for their stake, they should approach me. No problem."
Stop! Aren't there African or Congolese financiers or economic experts? Who couldn't see that Mr Gertler is treating Congolese like fool and financial illiterate?

Congolese People

Meanwhile, poverty in Congo continues to worsen, with 70 per cent of the population said to be malnourished and vast swathes of the country still without reliable electricity or running water. However, $50 million values of minerals shipped from the Congolese city of Goma each Month and Congo's global raking for production of the rare blue-grey metal tantalum is 3rd in World.
Congolese children in mines
Congolese children working like slaves in
Diamond mines.

African leaders are exploiting African people for their own gain and they are not interested in well being of their people. Joseph Kabila is getting his share from sale of mineral resources of DR Congo. Is he using the money to develop infrastructures of his Country? Is he investing money from minerals in education system or others projects in his country?

The international airport(N'djili) of DR Congo still the same since former master(Belgium) left it and Kabila can't even repaired or build new airport for image of he's own country. But for sure all the money he's getting from sale of mineral resources of Congo from Mr Gerter more likely could be find in Western Banks. Let look, he's looting mineral resources with his friend and deposited the money in Western Countries then who's benefiting for it Congolese people or the Western Banks!

It's amazing that mineral resources of any country it was sold for $20 million and been controlled by a foreigner, these type things can all happen in Africa. Moreover, lack of Financial education, lack of Economic expertise and combined with greedy to get rich quickly for the time they are power it is destroying African leaders judgments to improve the basics condition of living of African population. Also lack of a good education system in Africa is keeping its people oppressed or in darkness from corrupted African governments.

Mineral resources

Your comments

Gertler is giving African lesson how to do business. Unfortunatelly most african governmments are still lack of business knowedges. I Really feel bad for Congolese people. All your former Presidents from Mobutu and current President are all idiots. You're free from colonisation in term of politics now you've been colonised in terms of economy and finance. What lesson! only in Africa
James , Sydney, Australia

It's not fault of Mr. Gertler. If our governmments are corrupted and enable to apply commom sense of business then we never will have benefit of our minerals resources in Africa.
Kane , Lagos, Nigeria

I might sound like racist but this the true. African are not yet intellingent enough to control thier own resources. that why everyone with good financial or business knowedge can go in Africa and fool goverments. Gertler is doing that taking African from rider. Where is African intellectuals! Education is the key of Africa problems. not guns, not blame on colonialism. Education, education.
Jean , France, Paris

The same is true today in Ethiopia from China, Pakistan, India and so on. The new generation of Africa should stand together to avoid current African leaders. Only Writing is not a solution. Let us declare a war on African leaders to step the down.
Gadaa , Oromia, East Africa

@Gadaa, by writing we get informed what's going on in Africa. Information get you educated to be able to plan what you and others can do to find a good soluction for Africa. Thanks to My Continent to give us this platform to express our point of views in Africa and other continents issues.
James , USA, New York

To Solve the Mismanagement problem of our ressources, we need to come ALL Together & Fight CORRUPTION, the Root to misery. No country in Africa has been spared: from cape to cairo & dakar to mombassa same story of poverty WHY? Even without Diamond, Gold or OIL but with true leadership & Honest citizens we can build a better society, The Wise will always take advantage on the fool so just wake up
DFW , Royaume Kongo

Actually this is what always make me believe that Africa is not yet free from white people, the fact is our leaders work for white individuals like Dan gertler who uses our people, malnourished people who need humanitarian help but look what kapila doing now, he is punishing Congolese people...... wake up Afria.
haile , somalia

Dan Gertler are making capital out of democratic republic of conco whose government is filled up of avaricious people. "A fool will be the boss one day and it's a matter of time!" Definitely, Africans who will take good care of the continent are going to emerge in future.
T Kenga , Rotterdam

I realy do not know aniting about Mr.Dan Gertler but realy donīt tink that he is a goo example for busness in Afrika.He is probably very good israelieīs busnesman but not african.It seems me like movies about civil wars in afrikans countries and there reasons.
Yasna , Barcelona

A fuck over which benefits African resources. Of course, this kind of motherfucker think he 's done alone.
rodcaz , Toulouse

We Africans have nobody to blame except ourselves. We are no longer under colonial rule or slavery. We need selfless leaders who are above selfish interests. For as long as we lack capable leaders and functioning democracies, development will remain a far fetched dream. However countries like Botswana serve as a beacon of hope.
Musango Lungu , Hangzhou

I.m always asking myself why Congo is war torn area since the colonial era?.When rival mutiny solders are fighting innocent lives of children,women and old people is lost.Why Patrice Lumumba was assassinated?.The answer is clear.Minerals deposits in your country is all about these.Congelese stay together and resolve your differences and build your country which is very rich in minerals
Daudi Amiri Mbaga , Tanzania

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