Two Norwegians charged over bribes to Congo-Brazzaville president
Norwegian Company and Executives Charged with Bribery
Norwegian Company and Executives Charged with Bribery
On Mon, Norwegian prosecutors charged an oil company and two executives for allegedly paying bribes to Republic of Congo President Denis Sassou Nguesso and his family.
The investigation was initiated after Norwegian police received a request for legal assistance from Monaco authorities concerning a suspicious bank transaction.
It is alleged that approximately $25 million was offered to the president and his family in 2016 when the Norway-based oil group applied for an offshore licence.
Additional improper payments were allegedly made as undue advantages and loans, according to the indictment.
Norwegian Company and Executives Charged with Bribery On Mon, Norwegian prosecutors charged an oil company and two executives for allegedly paying bribes to Republic of Congo President Denis Sassou Nguesso and his family.
The implicated company, Hemla Africa Holding, is a subsidiary of the Norwegian group PetroNor E&P, listed on the Oslo stock exchange.
Sassou Nguesso’s family reportedly controls the Congolese company MGI International, which owned 25% of Hemla E&P Congo, the entity awarded the licence.
Prosecutors claim that the two Norwegian executives facilitated the regular payment of dividends from Hemla E&P Congo to MGI, providing an advantage worth at least $24.68 million to the president through family connections.
Following the charges, PetroNor's share price experienced a decline of over 14% before partially recovering. The company denies the allegations, stating, "The company categorically contests the indictment of Hemla and welcomes the opportunity to have the case thoroughly examined in court."
The two Norwegian executives, identified as Hemla board members Gerhard Ludvigsen and Knut Sovold, were arrested in 2021 in relation to the case. They were initially held in custody for two weeks before being released and have denied the charges.
Their legal representative, Halvard Helle, expressed that collaborating with local partners for licence shares is a standard practice in global oil operations.
President Sassou Nguesso has governed the Republic of Congo, a country rich in oil, for over forty years across two terms.
Based on reporting by Africanews.
