THE GOVERNMENT HAS YET SAYS NOTHING ABOUT THESE REVELATIONS SERIOUS! Do they really sold our shares of DP WORLD DAKAR? Note beyond legal committee of the PDS on the DP World case Following the meeting in Paris with leaders of DP WORLD who will manage the container terminal of the Port of Dakar, the President of the Republic Macky Sall, directs judges CREI, to lift the interim administration. The joint statement from the meeting between President Macky Sall and DP WORLD whitens our brother Karim Wade, and nullified the charges of the Special Prosecutor. Statements of Mr Macky Sall in Paris are an affront that will eventually bring down all illicit enrichment charges brought against Mr. Karim Wade. We must remember that DP WORLD DAKAR represents 391 billion CFA francs on 694 billion CFA Francs constituting the alleged fortune charged by the Special Prosecutor Karim Wade. To hide this snub, and the turnaround that eventually discredit the proceedings against Karim Wade, the Minister of Justice, Ms. Aminata Toure, trying to explain that DP WORLD DAKAR agreed to pay 24 billion Francs CFA which correspond to the second part of a ticket that was never paid during the concession of the container terminal. What is not said Aminata Toure, Minister of Justice, is that when the tender for the concession of the container terminal of the Port of Dakar (PAD), DP WORLD in his tender proposed CSA to choose between: the payment of a single entrance ticket 54 billion in shares without the operating company; or the payment of an entrance 30 billion and the provision of 10% of shares in the company operating the container terminal ticket, namely DP WORLD DAKAR SA. The company DP WORLD funding participation PAD throughout the duration of the concession is twenty five (25) years, and the total investment. This means that the CSA has not released a franc for the 10% and it can sell its stake at any time. In its notice, the Special Prosecutor Mr. Alioune NDAO said the company DP WORLD DAKAR in which the PAD was 10% of the shares, worth 391 billion CFA francs. So according to the Special Prosecutor, the actions of PAD are now worth 39 billion CFA francs, or 15 billion CFA francs more than 24 billion CFA francs as Aminata Toure wants DP WORLD pay in exchange for giving PAD by its 10% stake. The Directorate General of PAD at the time, has been inspired by choosing to take 10% of shares for PAD, because after four (04) years of concession, that 10% are now worth 39 billion francs CFA, which means that if the PAD sold its 10% shares in the company DP WORLD DAKAR, he would have won today 69 billion CFA Francs in total (30 billion CFA Francs entry ticket and 39 billion CFA Francs in the present value of the 10% share of the PAD). It is well above the 54 billion constituting the option of non-equity entry which had been bought by the authorities of the time ticket. The option has therefore won the PAD a gain of 15 billion CFA Francs in four (04) years. We are able to ask what will be the amount of the value of 10% of shares of PAD in twenty (20) years? The example of SONATEL in its infancy and the value of its shares now. Some experts believe that in twenty (20) years, the actions of the Port will be worth a hundred billion CFA Francs, so why ask therefore DP WORLD to resume 10% and pay 24 billion CFA Francs? One again, Aminata Toure is not telling the truth, and the government misrepresents the facts: it is not for the government to receive 24 billion CFA Francs. It is for the government to ask the CSA to abandon its 10% stake in DP WORLD DAKAR in exchange for the payment of 24 billion CFA francs. In other words, Ms. Aminata Toure wants to sell shares to 24 billion CFA francs, while the Special Prosecutor assesses participation PAD 39 billion CFA Francs, so there is a net loss of 15 billion CFA francs. Aminata Toure tries to present the disavowal that Senegal has received as a victory by explaining: DP WORLD that has agreed to pay 24 billion CFA francs corresponding to the remainder of the entry ticket, it does not say is that there is evidence that DP WORLD agreed to pay the 24 billion CFA, the PAD will lose its 10% stake in the operating company and its director positions in DP WORD DAKAR, Senegal to remove the right to look into the functioning of DP WORLD SA DAKAR, and management the Container Terminal. That, moreover, neither DP WORLD DAKAR SA (dealer) or the PAD is the grantor, do not confirm the terms of such an agreement on the payment of 24 billion by DP WORLD. Finally, it will require the President Macky Sall and Aminata Toure (advocating good governance and virtuous management) explain the Senegalese, how they sell 10% of shares of the company DP WORLD DAKAR worth by the Special Prosecutor 39000000000 CFA Francs (value of the company 391 billion x 10%) at a price of 24 billion CFA Francs? We are therefore able to ask the question: Where will spend the 15 billion CFA Francs? Aminata Toure to save face in his "hunt for ill-gotten gains" to interfere in the management of PAD, decides instead of the Board of Directors, and it loses 15 billion CFA Francs. The real reasons for the reversal of Mr. Macky Sall on DP WORLD are: Threats DP WORLD: DP WORLD, according to information in our possession, had early last week sent a letter to the State remains immediately remove the power interim administration, and gave the state 48 HOURS failing to pursue arbitration before the Court of Arbitration in Paris. The likely financial risk for Senegal is to be ordered to pay all capital and operating losses on twenty five (25) years of concession and pay several hundred billion CFA francs as damages and allowances. The warning from the World Bank: Through its insurance company (MIGA insures investments that Dubai in Senegal), the World Bank has threatened to call in the event of the guarantee by DP WORLD, following the entry into administration temporary freeze a number of projects in Senegal, and turn against the state. The warnings of the African Development Bank (ADB): The ADB is the main funder of DP WORLD DAKAR threatened to withhold funding for its projects in Senegal. In other words, the disaster was averted because Aminata Touré Alioune NDAO and could cost hundreds of billions of francs CFA that the state would have had to pay under DUBAI PORT damages and compensation. Moreover, it seems that all companies implicated by CREI and placed under provisional administration are preparing to take legal action against the State of Senegal, which ultimately could cost hundreds of billions of CFA francs to the poor taxpayer Senegal, who must pay damages to the shareholders of these companies who have serious points to make about the illegality of the CREI, under the Constitution of the Republic of Senegal, and Judgment February 22 2013 by the Court of Justice of ECOWAS, and especially the illegality of the actions of the Special Prosecutor and the Judges of the Commission of Education of the CREI. Donors are also concerned because the decisions of the CREI may ultimately weigh on public finances and fiscal balances. In the end, Ms. Aminata Toure, Mr. Alioune NDAO, and Judges of the Commission of Education of the CREI, constitute a serious threat to the balance of our public finances, since there is a high probability that instead of 4000 chimeric billion that would fall into the coffers of the state we find ourselves condemned to pay hundreds of billions in damages to people we installed in a judicial proceeding just to settle scores with political opponents.
Posted on: Sun, 16 Jun 2013 14:39:08 +0000
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