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WikiLeaks: How Francophone Africa gets indebted through theft and manipulation

January 10, 2011

As we continue to deplore the continuous manipulation of Francophone Africa  by successive colonial administrators  and their master France, we also urged on the need for us to come together and take our own destiny into our hands. Among others, we have to cancel the so called “debts we owe” these vampires, as well as nationalise all their assets and related unscrupulously-privatised corporations in Cameroon and the rest of the continent. We express the urgent need to cut all monetary (FCFA) ties with France and implore on our imminent future leaders to work with them as partners if we must continue collaborating. Anything short of  this, we must also add and accentuate deals with potential partners like  Brazil, Turkey, Argentina, Venezuela, Iran, Sweden, Denmark, Norway, Mexico, South Africa, Malaysia, Indonesia etc. Below is a WikiLeaks  US Embassy-Cameroon confidential cable released on December 28, 201o and dated July 07, 2009. It reveals how the vampires ruling the Central African sub Region (CEMAC)  through the regional bank BEAC, connived with France to steal billions of our funds to fund French politics. Soon the same guys ruling us will go after loans from this same France and her allies with fabulous sums as interest rates. Read on

ID: 09YAOUNDE608
Dokument dato: 2009-07-07 12:12:00
Release dato: 2010-12-28 21:09:00
Kilde: Embassy Yaounde
header:

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RHMFISS/HQ USAFRICOM STUTTGART GE

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Hovedtekst:

C O N F I D E N T I A L SECTION 01 OF 02 YAOUNDE 000608

 

SIPDIS

 

E.O. 12958: DECL: 06/29/2019

TAGS:     

SUBJECT: (C) CENTRAL BANK SOURCE: "GABONESE STOLE $40

MILLION, FUNNELED SOME TO FRENCH POLITICS"

 

REF: YAOUNDE 147

 

Classified By: Political Officer Tad Brown for Reasons 1.4 b and d.

 

1. (C) Summary. Senior Gabonese officials in the Bank of

Central African States (BEAC) colluded to embezzle more

than 18.3 billion CFA (about $36 million) from the pooled

reserves of the six states of the Central African Economic

and Monetary Community (CEMAC) over the past five years,

according to a senior Embassy contact at the bank. In a

June 12 meeting with Poloff, the source, a senior

third-country national, said BEAC discovered the crime

during internal audits conducted in the wake of revelations

that Gabonese national and BEAC Governor Philip Andzembe

had covertly placed 500 million Euros in high-risk

investmentQwith French bank Societe Generale (reftel).

According to the Embassy source, senior Gabonese political

leadership, including the late President Omar Bongo and his

son, Defense Minister and presidential hopeful, Ali Bongo

benefitted from the embezzlement. The source said Gabonese

officials used the proceeds for their own enrichment and,

at Bongo"s direction, funneled funds to French political

parties, including in support of French President

Nicholas Sarkozy. End summary.

 

Audit Reveals Deeper Issues

---------------------------

 

2. (C) The BEAC official asked Poloff to meet on June 12

to discuss "a sensitive issue that I want the U.S. to hear

about from me, before it appears in the media." Recalling

the political tensions created by the revelation that BEAC

Governor and Gabonese national Philip Andzembe had, in

violation of BEAC regulations and unbeknownst to the BEAC

board, placed 500 million euro of BEAC deposits in a

high-risk investment with French bank Societe Generale

(Reftel), the BEAC official said the consequent review of

BEAC"s accounts had revealed even broader and more brazen

malfeasance linked to a hierarchy of Gabonese officials

throughout BEAC. (Note: Under the agreement that created

BEAC in 1972 it was decided that, in light of their relative

economic predominance in the region, Cameroon would host

BEAC"s headquarters while Gabon would maintain exclusive

power to appoint the BEAC Governor. For more information

on how the politics of oil of affected the region and BEAC

see reftel. End note.)

 

The Easy Way to Rob a Bank

--------------------------

 

3. (C) The BEAC official explained that Gabonese

President Bongo"s control of BEAC was more extensive than

the Governor"s office; the Director of Accounting, the

Deputy Director of Accounting, the officials overseeing

international wire transfers, and the accountant in BEAC"s

Paris branch have all been Gabonese nationals appointed by

Bongo. Working in concert, these officials were able to

subvert BEAC"s safeguards. The Paris accountant was, until

recently, Gabonese national Armand Brice Nzamba, who is a

close personal friend of Ali Bongo, according to Post"s

contact at BEAC. The BEAC official said BEAC had contacted

the Paris "financial police" who were investigating Nzamba

until he fled France earlier this year. Gabonese national

Maurice Moutsinga served as the Director of Accounting in

BEAC Headquarters for 20 years until his retirement in

2007.

 

4. (C) The embezzlement moved through three main

Channels, according to the official:

 

--in checks made out in the names of the BEAC officials

themselves; BEAC"s investigations have already tracked 18.3

billion CFA ($36.6 million) that were embezzled in checks

made out in the name of Gabonese officials. As a result,

Nzamba accumulated personal wealth of more than of more 1

billion CFA ($2 million) on an annual salary of about

$36,000;

 

--in checks made payable to shell companies; the main

recipients were Papieterie Classique and Tour 55 in France

and Chaiab in Morocco, and;

 

--in checks made out to Gabonese politicians, including the

wife of Leon Mebiane, who was Gabon"s Prime Minister from

1975-1990.

 

Did French Politicians Benefit?

-------------------------------

YAOUNDE 00000608 002 OF 002

5. (C) Asked what the officials did with the stolen

funds, the BEAC official responded, "sometimes they kept it

for themselves, sometimes they funneled it to French

political parties." Asked who received the funds, the

official responded, "both sides, but mostly the right;

especially Chirac and including Sarkozy." The BEAC

official said "Bongo was France"s favorite President in

Africa," and "this is classic France Afrique." He said

technocrats from the French Treasury were relatively

progressive in encouraging the francophone governments to

be more autonomous, but that the Banque de France

continued to exert an outsized influence.

 

CEMAC Presidency"s React

------------------------

 

6. (C) The BEAC official said the CEMAC Heads of State

were understandably upset to learn about the deeper

governance problems at BEAC. In a January 2009 meeting to

discuss Anzembe"s deal with Societe Generale, Biya had called

for Andzembe"s immediate dismissal. According to the

official, Biya pounded the table during a recent meeting

with his CEMAC counterparts and asked, in reference to his

own anti-corruption campaign, "Don"t you read the press?

We throw people like this in jail in my country!"

Equato-Guinean President Obiang, long-frustrated that his

deposits at BEAC exceeded his influence in the institution,

was more "patient," calling for audits because, according

to the BEAC official, "he knew what the audits would find

[regarding Andzembe"s malfeasance] and that the resulting

pressure to institute a Presidency that rotates among the

member states would be inevitable."

 

Audit of SG Placement Continues

-------------------------------

 

7. (C) The Audit Committee includes representatives from

the six CEMAC economies plus a representative from the

French Treasury. The Heads of States agreed to conduct two

audits, a general review of internal accounts and a

specific investigation into Andzembe"s unauthorized

placement of funds at Societe Generale. According to the BEAC

official, the investigators have yet to understand fully the

details of the SG account. "Even SG tells us that they are

unable to determine the structure of the investment that

Anzembe made!" he marveled. The official theorized that SG

had used the BEAC funds to help "plug the hole" created by

the Kerviel rogue trader scandal, but that the financial

crisis had overwhelmed SG and swallowed BEAC"s funds.

 

Jail for Some;

End of Gabon"s Monopoly

----------------------

 

8. (C) The BEAC official said his own government and

others would seek jail time for some of the officials, but

that there would be pressure to deal delicately with the

new Gabonese Government. Ali Bongo, he said, is close

personal friends with BEAC Governor Anzembe.

Institutionally, he predicted, these scandals will mean the

end of Gabon"s monopoly on the Governorship, which will now

rotate among the member states, and will lead to revisions to

internal

controls.

 

Comment: A Governance Lesson Learned

------------------------------------

 

9. (C) This tale of grand-scale corruption is

unfortunate, especially coming as it does during an

economic crisis that has depleted the region"s resources,

but the strong reaction from Biya and Obiang suggests

Gabon"s foul play might result in better management--more

transparency and autonomy--of BEAC"s resources. Our hope

is that CEMAC leaders internalize the lesson that secretive

management of public resources is a recipe for waste and

abuse and apply it to BEAC and their domestic

institutions. Post is unable to assess the veracity of the

allegation that French politicians benefitted from BEAC"s

loss, but it is the type of claim--that France encourages

and preys upon corrupt leaders in the region--that will

gain currency in popular opinion if, as the BEAC official

predicted, the story leaks to the press. End comment.

 

GARVEY 
(Elisabeth Janet Garvey- Former US Ambassador to Cameroon)

Go Back

Shocking!

Hip! Hip! HIP! Hurrah!!! For once, the World is getting to know French financial machinations in its ex-colonies and the reason why french speaking Africa is not only stagnant in terms of development.
For starters, the French say it loud that the CFA Fanc is not the ex-colonies' money but theirs - Frenchy's - and in addition that the ex-colonies know nothing concerning money and the workings of money. This is a truism. Anyone can differ here.

The French Banking conglomerate Société Générale with its sister accomplice Paris Bas have looted the African economies with impunity for far too long and this act should be reviewed by the International Community as Crimes against Humanity. The looting of funds from the colonies causes a lot of economic turbulence in these colonies - case of Cameroon - retirees can not be paid due to the fact that, by virtue of voodoo economic ties concocted at the time of "Independence" Cameroon's funds where supposed to be placed in the Metropolis for investments. Institutional investments were to be repatriated to the Metropolis. It is also verifiable that the obligatory withholding of 50% of annual receipts from
Internatnal Trade were to be "Withheld" by the French treasury and yet another 25% of the receipts to be withheld in a French Development Fund. Each ex-colony now was left with just 25% to carryout its internal development.

This voodooism resulted in shortage of funds for these colonies to draw up meaninful development projects hence, the resultant and constant shortfalls in finances always surely lead these newly Independent ex-colonies to go back to the French to borrow capital at World Market rates to carryout projects within their respective countries. And so the dance went. This is the crux and harbinger of the Ivorian crisis. The World is going to witness the on-going Ivorian Crisis throughout French Africa. The UNO, AU and the International Community should brace themselves for more upheavals from this linguistic speaking part of the World.

If the International Community continues to stand by just to be observing and each time there is a hotspot without trying to understand the fundamental issues underlying these occurences then the International Community shoul also be ready under the beck and call of France, the veto weilding Super Power to raise troups each time there is a flair up to supply fresh troups as is presently the case in the Ivory Coast.

Good points Tanjong.

I am one who, however, believe that the French were right to force us to SAVE - something that is not in the African mentality. Financial discipline doesn't come easy to the African person. You can see how our African people at home have a tendency to earn and spend immediately until the money runs out.

Besides, during independence, the financial ignorance of our political leaders means that this money would have been misused. You can see how even as late as the eighties Paul Biya encouraged a spending spree that I had never seen in Cameroon.

I was always complaining to a friend that there's something not quite right with what was going on. I was worried that with the kind of spending on partying I was seeing we would soon run out of funds to finance the scholarship programme. And it wasn't long before I was proved right.

After all that spending, Cameroon faced a severe economic crisis. You can imagine what would have happened if Paul Biya's administration had access to all that foreign reserves we have in France.

Last, but not least, is our corruption. Almost all of the 25% that is available to Cameroon has been embezzled. The idea of development is not natural to African leaders, who think they are there to fill their pockets.

You can also see why it is important that in the next presidential term of office we have a responsible problem-solving leader who will right the wrongs of our country and get it moving in the right direction.

Once we are satisfied that corruption has been put in check we can push France to make more money available. We can't ask for all because we always need a safety buffer.

You never know how things may change and we may have to go to war with someone. Then you need savings to finance the war effort. In peace time you must always be prepared to go to war whenever the need arises.

EXCELLENT COMMENTS FOLKS.

When will all this end? Africa, when it comes to diversity we are the first but when development is looked at we are the last.
These are the results of colonialism from a humanistic point of view. The results are clear; colonialism is EVIL. Our colonial masters know exactly what they are doing and it is left to us to see things from God's point of view and take things from here, move forward for a change. There was suppose to be give and take fairly so that we all enjoy the benefits but for a small group of indivs to handle the innocent in such a way is bad. We need a solution and Africans themselves must fight for that change.
Look at the present situation in Ivory Coast. Souls are being lost because of France's egoistic policies to the Francophone nations in Africa. Our leaders must seek for a way, the truth and secure the life of humanbeings. All this is happening for a reason but if we are ignorant of these signs then we are going to find things more difficult in the future.
Whatever way that PEACE has to come for the greater good let it be. We have been patient for long God.

Thanks for being there folks.

Stanley.

We as a nation must be willing to change. It falls to the individual family to lay the foundation of honesty, probity, integrity, honour and consideration for other in every child. The future of Cameroon is too important to be left exclusively in the hands of our leaders. We, the people, must together, actively rebuild our nation and set it on the path of righteousness.
Collen
http://www.healthyhairhighlights.com

Hey Collen,
It's not family alone that should do the moral thing.The government has its part to play and if gov't is corrupt,believe me,it will spill down to the family.All must be balanced.

Those colonial stooges ruling Africa today were not products of today's society.They were all supposedly well-bought-up.They were supposed to be from families with good values.

How come they are the most corrupt of earth's leaders today with absolute disregard for the well-being of its people?
This is because the "white man" bewitched these idiots.
The white man wiped clear their HDs and now they have no inkling of any moral obligation towards their societies.

We Africans cannot sit at the sideline and see our resources continuously being siphoned by greedy Europe and its puppets.

we should forget about the sad and bitter past and look forward.
So, could this people stop exploiting us?
What do we need to do so that this can occur peacefully?
Does the United Nation know about this?
What are they doing?



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