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According to the agreement signed by the Congolese presidency on March 2, Khaled Sadek has just four months to complete his proposal to acquire the Congolese company Congo Airways. For this operation, he had announced that he could invest 1.3 billion dollars. If he continues to assert the “seriousness” of his project, the general director of the A&M Development group admits he will face a “huge problem”.
“The company's current management hides all data, documents, financial security and does not collaborate in any way with our team”, explains the potential buyer. In a letter addressed to the general director of Congo Airways, with a copy from President Tshisekedi, Prime Minister Sama Lukonde Kyenge and the Ministers of Portfolio and Transport, he explains that he had to cancel, due to lack of access to information relating to the company, the meeting scheduled for Paris on April 12th. It was a question of discussing the acquisition of two Airbus A320s, which should allow the continuation of the activity there company.
Complicated mobilization
An appointment for which great resources were expected according to the director of security at A&M Development, consultant Andrew Martorell, also general director of Silverback Africa LTD, a British private security company. In a letter he addressed one Khaled Sadek who young Africa was able to consult, lament the useless protection of a device intended to protect the meeting: armed security agents brought in by private plane, armored utility vehicles, medical evacuation equipment... Everything to £ 130.000 (almost 147,000 euros), according to him.
curious choice
According to the estimate that the meeting would be held at the meeting, and that young Africa could read, however, the coveted aircraft were not Airbus A320s, but a Russian military aircraft type Ilyushin II-76 and a Boeing 737-400. “We have other agreements in France to buy another two Airbus 320s, these two more intended for cargo”, says Khaled Sadek.
“There was never any question of the Ilyouchine planes”, says a source from Congo Airways who specifies that he does not believe “in any way” in the project, which was however signed to give an opportunity to a potential investor.
The quote itself, which is over US$2 million per plane for the first month (which includes a security deposit), is overly considered by the airline finance professionals we interviewed. It was contracted with Inter Aero Business, a company best known in the helicopter leasing sector, but which also offers aircraft.
The designated client is not A&M Development, but Afric'Ompagny SARL, a company mentioned as “in the process of creation” and whose headquarters should be in the 14th arrondissement of Paris. Its manager, Rengou Ouzerou Junior, launched a pan-African sports channel in 2016, Africa stadium, disappeared today.
general waiting
Questioned by JA, Michel Bidoux, managing director of Inter Aero Business, indicated that he was mandated exclusively to make planes available to A&M Development and Afric'Ompagny SARL. It made several offers, including the Iliouchine and the Boeing 737-400, but also ATR 42s, Dash 400s and, more recently, two A320s that should be available to the Congolese company within four months.
“They were simple proposals, no appointment was made to validate them”, he says, adding that he received a negative response to the purchase of the Russian plane. Registered in Kyrgyzstan, it would be “not welcome in the DRC”. Cargo planes are intended to transport bauxite, he believes, while A&M Development intends to rely on its mining activity to finance its aerial projects. But before accepting with his client, the intermediary wants to have a document proving his solvency.
“Minor concerns”
Before continuing, the director of security at A&M Development suggests that the bill for securing the aborted meeting be paid by Congo Airways. “We have already lost prestige with our airline partners, do you think we can get involved with Airbus or other companies, while the Congolese partners do not provide even an operational or financial document? asks Khaled Sadek.
If young Africa failed to get an official reaction on this file, neither from the Ministry of Portfolio nor the Ministry of Transport – the latter referring to the management -, sources close to the Government evoke “small problems to be resolved” at the level of A&M Development, particularly with regard to the reality of its turnover. They fear that the signature, on the initiative of the Presidency of the Republic, was made “a small fast".
