Central African Republic

President dismisses two ministers for fraud


Published

President Francois Bozize has dismissed two of his senior ministers for fraud.

The two ministers, Minister in Charge of the General Secretariat and Institutional Relations, Michel Koyt and Minister in Charge of Good Governance, Abdallah Kadre were sacked for establishing a shell company which then siphoned off around 2.5 billion CFA francs (£3.1 million; $4.8 million) from a Indian government loan.

According to Reuters, the money was part of a 16 billion CFA loan from India to build a cement plant and a state urban transport company.

As yet the two ministers have not been replaced.

Tagged with:

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com