{"id":459275,"date":"2018-04-11T15:58:15","date_gmt":"2018-04-11T14:58:15","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=459275"},"modified":"2018-04-11T15:58:15","modified_gmt":"2018-04-11T14:58:15","slug":"the-accounts-of-arcelormittal-senegal-blocked","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/04\/11\/the-accounts-of-arcelormittal-senegal-blocked\/","title":{"rendered":"The accounts of ArcelorMittal Senegal blocked"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The world steel giant Arcelor Mittal is facing a tax recovery of more than one billion CFA francs in Senegal. The case revealed by the local press indicates that the group has seen its bank accounts blocked by the Administration, including the office of Ngor-Almadies which triggered a process of seizure assignments.<\/p>\n<p>The group based in Luxembourg, however, has eight days from notification of the procedure to comply with its obligations, under penalty of seeing the banks directly pay the tax debt in question.<\/p>\n<p>In 2007, Arcelor Mittal was granted a concession for the exploitation of the minerals of Fal\u00e9m\u00e9 (Miferso) before withdrawing without providing convincing explanations. At the time, the State of Senegal had assigned to the Court of Arbitration of Paris.<\/p>\n<p>In 2014, the latter decided in favor of Senegal, and it remained to fix the amount of the fine. With the change of regime, the arbitration procedure had been stopped by means of 75 billion Fcfa (141.7 million dollars) against 2500 billion Fcfa (5 billion US dollars) claimed by the old regime.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The world steel giant Arcelor Mittal is facing a tax recovery of more than one billion CFA francs in Senegal. The case revealed by the local press indicates that the group has seen its bank accounts blocked by the Administration, including the office of Ngor-Almadies which triggered a process of seizure assignments. The group based<\/p>\n","protected":false},"author":527297,"featured_media":459278,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[11996],"tags":[3609,12147],"class_list":{"0":"post-459275","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-finance-en","8":"tag-arcelormittal","9":"tag-senegal-en","10":"post_format-post-format-aside","11":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The accounts of ArcelorMittal Senegal blocked - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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