Latest news with #MassadBoulos
The National
9 hours ago
- Business
- The National
DRC and Rwanda sign 'Washington Accord' peace deal
Rwanda and the Democratic Republic of Congo (DRC) signed a US-brokered peace agreement in Washington on Friday, ending three decades of conflict and ushering in billions in foreign investment to the region. President Donald Trump, flanked by his Vice President JD Vance and Secretary of State Marco Rubio, said the foreign ministers of the two countries signed the agreement in the Oval Office. "They were fighting for years, and it was machetes, it was vicious, people's heads were being chopped off," Mr Trump said at a news conference earlier on Friday. "And I have a man who's very good in that part of the world, very smart, and put them together," he said. "First time in many years, they're going to have peace. And it's a big deal." Mr Trump had enlisted the help of Massad Boulos, a Lebanese-American businessman and the father-in-law of the President's daughter Tiffany. Qatar also joined in mediating the process. Born in Lebanon, Mr Boulos has ties to Africa, having lived and owned businesses in Nigeria. Last month, Mr Boulos said the DRC and Rwanda had submitted a draft peace proposal. Speaking in the Oval Office, Mr Boulos said he had first engaged with the two sides in early April, and the final agreement will be known as the Washington Accord. "There's an economic aspect as well that is extremely important for both countries," Mr Boulos said. "There would be some bilateral agreements with negotiating a mineral deal with the DRC for critical minerals - many American companies have shown interest in investing in the DRC," he said. "Same thing with Rwanda. " The agreement would bring to an end a three-decade conflict in the eastern DRC which escalated earlier this year, when the Rwanda-backed M23 rebels seized the key cities of Goma and Bukavu. A draft of the agreement provided by the state Department includes the disengagement of Rwandan forces and the voluntary repatriation of refugees. It also called for the monthly rotating meetings between DRC and Rwanda, with the US and Qatar attending as observers. Another joint meeting was to be held in Washington within 45 days. The fighting has killed about 3,000 people and displaced hundreds of thousands of others. The DRC, United Nations and the US have long accused Rwanda of providing weapons and training to the M23 rebels. Rwanda denies supporting M23, and says its forces are acting in self-defence against the Congolese army and Hutu militias linked to the Rwandan genocide of ethnic Tutsis in 1994. The conflict is fuelled by the rich mineral resources in eastern Congo. The DRC is the world's largest producer of cobalt, a mineral used to make lithium-ion batteries for electric vehicles and smartphones. The country also has substantial gold, diamond and copper reserves. M23 and Rwanda are accused of exploiting these resources. On Thursday, Reuters reported that the DRC had dropped its demand for the immediate withdrawal of Rwandan troops, paving the way for the peace deal. Physicians for human rights, an organisation that has worked in the DRC for more than a decade, said the agreement does not ensure that hostilities would not resume through proxy armed groups, and has no reparations component. "We welcome any dialogue and de-escalation in the devastating conflict in eastern DRC, but it is important to note that the new agreement between Rwanda and DRC contains major omissions and does not adequately safeguard civilians in the region," Sam Zarifi, executive director said in a statement on Friday. "There can be no durable peace without meaningful justice. But the agreement signed today sidelines human rights and fails survivors," he said. The economic incentives involved remain unclear as Mr Trump seeks to compete with China in investing in the region's abundant mineral wealth. Mr Trump said it included the US getting "mineral rights" from the Congo. The draft agreement said it would shut down 'illicit economic pathways' and instead "formalise and audit" cross-border mineral trade.
Yahoo
11 hours ago
- Business
- Yahoo
Trump to host DRC-Rwanda peace deal — adviser
US President Donald Trump expects to host the heads of state of DR Congo and Rwanda in the 'coming weeks' to sign a peace agreement to end a decades-long conflict in eastern Congo, his senior Africa adviser said on Tuesday. The foreign ministers of both countries will also be in Washington on June 27 for a signing ceremony after the text of the agreement was agreed last week, said Massad Boulos. Boulos, who was speaking at the US-Africa Business Summit in Luanda, Angola, championed the prospect of lasting peace creating an environment where US businesses would be more willing to invest. He said conflict had hindered the Great Lakes region from unlocking the 'full potential of its people and natural resources.' The eastern Congo region in particular has many valuable resources, including rare minerals such as tantalum and tungsten. Access to those minerals has driven some of the conflict, which has displaced millions of people and killed thousands of others. The Trump administration has dangled the prospect of a minerals deal with Kinshasa as part of its push for peace in the region.
The National
13 hours ago
- Business
- The National
DRC and Rwanda to sign peace deal in Washington
Rwanda and the Democratic Republic of Congo (DRC) are set to sign a US-brokered peace agreement in Washington on Friday, ending years of conflict and ushering in billions in foreign investment to the region. President Donald Trump will host the foreign ministers of the two countries in the Oval Office after the official signing in the State Department. "They were fighting for years, and it was machetes, it was vicious, people's heads were being chopped off," Mr Trump said in a news conference on Friday. "And I have a man who's very good in that part of the world, very smart, and put them together," he said. "First time in many years, they're going to have peace. And it's a big deal." Mr Trump had enlisted the help of Massad Boulos, a Lebanese-American businessman and the father-in-law of the President's daughter Tiffany. Qatar also joined in mediating the process. Born in Lebanon, Mr Boulos has ties to Africa, having lived and owned businesses in Nigeria. Last month, Mr Boulos said Congo and Rwanda had submitted a draft peace proposal. The agreement would bring to an end a three-decade conflict in eastern Congo which escalated earlier this year, when the Rwanda-backed M23 rebels seized the key cities of Goma and Bukavu. The fighting has killed about 3,000 people and displaced hundreds of thousands of others. The DRC, United Nations and the US have long accused Rwanda of providing M23 rebels weapons and training. Rwanda has long denied supporting M23, and says its forces are acting in self-defence against Congo's army and Hutu militias linked to the Rwandan genocide of ethnic Tutsis in 1994. The conflict is fuelled by the rich mineral resources in eastern Congo. Congo is the world's largest producer of cobalt, a mineral used to make lithium-ion batteries for electric vehicles and smartphones. The country also has substantial gold, diamond and copper reserves. M23 and Rwanda being accused of exploiting these resources. On Thursday, Reuters reported that the DRC had dropped its demand for the immediate withdrawal of Rwandan troops, paving the way for the peace deal. Few details have been made available about the deal, or the economic incentives involved, as Mr Trump seeks to compete with China in investing in the region's abundant mineral wealth.
Eyewitness News
15 hours ago
- Business
- Eyewitness News
US companies sign Africa deals in 'trade over aid'
LUANDA - US companies pledged investments in Africa ranging from power lines to digital infrastructure at a business summit that underscored Washington's push for growth through trade, not aid, US authorities said Thursday. The deals were agreed at the US-Africa Business Summit of African leaders and representatives of the US government and private sector that wrapped up in Luanda Wednesday, the US embassy in Angola said in a statement. Angola is the key US partner in one of its most ambitious projects on the continent focused on a railway line transporting critical minerals from the Democratic Republic of Congo (DRC) and Zambia to Angola's Atlantic Ocean port of Lobito from where they can be exported. It is seen as a US counterpoint to China's expanding economic influence in Africa. The Lobito Corridor -- also funded by the European Union and African multilateral institutions -- aims to set up logistics and agricultural production zones along the railway line through private investment. One of the deals from the meeting was for a US consortium to work with an Angolan group to construct and operate 22 grain silo terminals along the Lobito Corridor, the statement said. Another was a memorandum of understanding on the construction of a 1,150-kilometre (720-mile) electricity transmission line between Angola and the DRC, it said. Other planned collaborations included for boosting digital infrastructure and cybersecurity in Angola, to develop West Africa's first terminal for US-sourced LNG in Sierra Leone, and for a US stake in a hydropower project spanning Rwanda and the DRC. "The Trump administration views this moment as an opportunity to deepen our engagement across Africa's economic landscape," the president's senior advisor for Africa, Massad Boulos, was quoted as telling the meeting. "We believe that business and trade, not aid, are the engines of long-term, sustainable growth," he said. Since taking office in January, President Donald Trump has announced major cuts in US foreign aid including for projects in Africa.
Zawya
3 days ago
- Business
- Zawya
African Union Commission (AUC) Chairperson held a bilateral meeting with United States (US) @StateDept Senior Advisor for Africa, H.E. Massad Boulos, & Senior Bureau Official, Hon. @tdf_dc
H.E. @ymahmoudali held a bilateral meeting with US @StateDept Senior Advisor for Africa, H.E. Massad Boulos,&Senior Bureau Official, Hon. @tdf_dc, on the sidelines of the US-Africa Business Summit in Luanda. The Chairperson welcomed renewed US engagement in Africa, particularly in trade, investment,&peace&security. He underscored the importance of fostering a mutually enabling environment, including on trade, investments&market access to promote&advance a more balanced&partnership. Distributed by APO Group on behalf of African Union (AU).
