{"id":53105,"date":"2023-09-08T08:20:14","date_gmt":"2023-09-08T08:20:14","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-communities-accuse-reconafrica-of-deception-and-environmental-violations"},"modified":"2023-09-08T08:34:42","modified_gmt":"2023-09-08T08:34:42","slug":"namibian-communities-accuse-reconafrica-of-deception-and-environmental-violations","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibian-communities-accuse-reconafrica-of-deception-and-environmental-violations","title":{"rendered":"Namibian Communities Accuse ReconAfrica of Deception and Environmental Violations"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Communities and advocacy groups in Namibia have levelled serious allegations against Canadian oil driller ReconAfrica. Their complaint contends that the company has deceived both regulators and investors regarding its activities in the region. The accusations involve misrepresentation of interactions with local communities, non-compliance with laws, and the environmental threat posed by drilling activities in the Okavango Delta, a designated World Heritage Site.<\/p>\n

The formal complaint implores regulatory bodies to launch an investigation into ReconAfrica\u2019s alleged misrepresentation of its on-the-ground activities to investors, potentially leading to investment decisions made under false pretences. In the United States, making false statements to investors to induce stock purchases is unlawful, and the complaint underscores that significant investments were made in the company based on these purported misrepresentations.<\/p>\n

ReconAfrica had assured investors of a \u2018world-class\u2019 environmental and social program, but farmers in the region claim that their lands were taken without consent, and the company allegedly disposed of drilling waste in unlined pits. An independent Parliamentary inquiry has also raised concerns about potential corruption related to ReconAfrica\u2019s operations. Nevertheless, the company has consistently maintained to investors and regulators that it has adhered to all applicable laws. These alleged misrepresentations are believed to have contributed to the company\u2019s remarkable valuation of nearly one billion dollars, all while failing to extract a single drop of oil.<\/p>\n

The 27-page complaint goes further by calling for a suspension of trading in ReconAfrica\u2019s stock while a comprehensive criminal investigation into the actions of the company\u2019s leadership is conducted. The groups involved, who have successfully challenged ReconAfrica\u2019s assertions in the past, assert that the claims made by the company to investors are untrue and do not align with the realities on the ground. Local leaders have purportedly faced detainment, surveillance, and harassment for their opposition to the project.<\/p>\n

The submission, dated August 29, 2023, is meticulously documented and supported by an extensive array of facts. It has been submitted to various investigative bodies, including the United States Securities and Exchange Commission, the Department of Justice, the FBI\u2019s Criminal Fraud Division, Germany\u2019s financial fraud division known as BAFIN, and Namibian regulatory authorities.<\/p>\n

Key Quotes from the Complaint\u2019s Executive Summary:<\/p>\n

\u201cThese assembled facts reveal that the company has bullied local and international critics, possibly paid off Namibian politicians, potentially polluted local fields and waterways, lied about having the necessary drilling permits to investors, illegally drilled inside wildlife reserves, illegally cleared roads within community-owned land, lied about drilling into the shallow watershed of two World Heritage properties, and was illegally in possession of the electronic communications of local leaders publicly opposed to their project.\u201d<\/p>\n

Notable Quotes from Thomas Muronga, Chairperson of Kapinga Kamwalye Wildlife Conservancy:<\/p>\n

\u201cAfrica is not for sale, and our lands, farms, and water systems are not sacrifice zones for foreign companies to come and pollute. Those days of colonialism are over; we need sustainable development. We need renewable energy.\u201d<\/p>\n

\u201cIt worries us deeply. Will Recon stop here, or will they keep destroying further?\u201d<\/p>\n

\u201cYou never know where they are going to start, so what about our graves, our heritage and history, and our future?\u201d<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Communities and advocacy groups in Namibia have levelled serious allegations against Canadian oil driller ReconAfrica. Their complaint contends that the company has deceived both regulators and investors regarding its activities in the region. The accusations involve misrepresentation of interactions with local communities, non-compliance with laws, and the environmental threat posed by drilling […]<\/p>\n","protected":false},"author":84,"featured_media":53104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[234,236,233],"class_list":["post-53105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNamibian Communities Accuse ReconAfrica of Deception and Environmental Violations - Namibia<\/title>\n<meta name=\"description\" content=\"Communities and advocacy groups in Namibia have levelled serious allegations against Canadian oil driller ReconAfrica. 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