Trading & Financial News
No Result
View All Result
Monday, June 30, 2025
  • Login
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
Subscribe
Trading & Financial News
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
No Result
View All Result
Trading & Financial News
No Result
View All Result
Home Markets

Congo scraps $1.2 billion biometric ID project over cost concerns

by Tradinghow
September 4, 2024
in Markets
A A
0
Congo scraps .2 billion biometric ID project over cost concerns
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

The Democratic Republic of Congo has scrapped a $1.2 billion project to establish a national biometric ID system, following concerns raised by a government watchdog about cost overruns and potential funding issues, Bloomberg reported.

The deal, which involved French biometrics company Idemia working through an intermediary called Afritech to create a civil registry and produce ID cards, was officially terminated on August 12, as confirmed by Richard Ilunga, Director General of Congo’s National Office for Population Identification.

Ilunga shared that the decision came after a meeting between various government agencies and the Idemia-Afritech partnership. However, when asked for further details, he declined to explain the specific reasons behind the project’s cancellation.

The World Bank had refused to fund the biometric ID project due to concerns over the absence of a competitive tendering process. In 2023, civil servants at ONIP (National Office for Population Identification) circulated a confidential memo which raised serious concerns about the Idemia and Afritech proposal, pointing out “flagrant overpricing” and warning that the contract could potentially become an “enormous scam.”

In June, the Inspectorate General of Finance, a Congolese government watchdog, released an internal investigation that raised red flags about the cost of the biometric ID project.

The report revealed that the proposed financing mechanism for the system was “illegal or impossible.” Following the report, President Felix Tshisekedi called for a detailed briefing on the contract from the Interior Minister.

The $1.2 billion price tag for Congo’s proposed ID system and infrastructure was more than three times ONIP’s initial estimate. If the deal had gone through, it would have ranked among the most expensive digital identity contracts ever.

Congo currently lacks a national ID system, which complicates basic tasks for its citizens, such as opening bank accounts, obtaining official documents, and registering to vote.



Source link

https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB
  • Trending
  • Comments
  • Latest
The Evolving International Cannabis Landscape

The Evolving International Cannabis Landscape

March 20, 2024
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

July 29, 2023
China tech groups lead multibillion-dollar campaign to help exporters sell at home

China tech groups lead multibillion-dollar campaign to help exporters sell at home

April 20, 2025
Uniswap Launches Permissionless Bridging Across 9 Networks

Uniswap Launches Permissionless Bridging Across 9 Networks

October 24, 2024
High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

0
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

0
Learn how to trade. For beginners

Learn how to trade. For beginners

0
Trading for beginners

Trading for beginners

0
Tanzania, Kenya, and South Africa dominate 2025 World Travel Awards in Dar es Salaam

Tanzania, Kenya, and South Africa dominate 2025 World Travel Awards in Dar es Salaam

June 29, 2025
Mcap of nine of top-10 most valued firms surges by ₹2.34 lakh crore; Reliance biggest gainer

Mcap of nine of top-10 most valued firms surges by ₹2.34 lakh crore; Reliance biggest gainer

June 29, 2025
3 Forces Driving the Energy Transition

3 Forces Driving the Energy Transition

June 29, 2025
Afreximbank’s next president: George Elombi In?

Afreximbank’s next president: George Elombi In?

June 29, 2025

Recent News

Tanzania, Kenya, and South Africa dominate 2025 World Travel Awards in Dar es Salaam

Tanzania, Kenya, and South Africa dominate 2025 World Travel Awards in Dar es Salaam

June 29, 2025
Mcap of nine of top-10 most valued firms surges by ₹2.34 lakh crore; Reliance biggest gainer

Mcap of nine of top-10 most valued firms surges by ₹2.34 lakh crore; Reliance biggest gainer

June 29, 2025

Categories

  • Business
  • Crypto
  • Economy
  • Forex News
  • Investing
  • Markets
  • More
  • Stock Trading
  • Trading for beginners

Site Navigation

  • Home
  • Contact Us
  • Stock Trading
  • Markets
  • Investing
  • Other Links
  • Privacy & Policy
Trading & Financial News

We bring you the fastest breaking news on Trading, forex, and finance submitted from credible and reliable news sources around the world.

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

No Result
View All Result
  • Contact Us
  • Home
  • Economy
  • Crypto
  • Investing
  • Markets
  • Forex News
  • Stock Trading

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In