ECair and South African Allegiance Capital's agreement turns sour
Six months after ECair and South African investor Allegiance Capital signed an agreement, there is already much disagreement between them.
The institution headed by former Gabonese prime minister Daniel Ona Ondo has set its 2022 spending programme at 94bn CFA francs. This looks like an increase on the previous year but, in fact, the failure of member states to pay their contributions will lead to a drastic reduction in its operating costs.
The Minister of International Cooperation signed a strategic partnership with the South African company Allegiance Capital at the beginning of January in order to relaunch ECAir. Denis Christel Sassou Nguesso has won over the Minister for Major Works, Jean-Jacques Bouya.
Because Congo's exasperated creditors keep a constant eye on it, the country's presidential Falcon 7X has flown furtively for months. Alas, an oversight allowed Mohsen Hojeij, who says Congo owes him vast sums of money, to take possession of the jet on 6 June.