Rwanda says company named in ‘Panama Papers’ was used legally to secure 'strategic services'

Firm was established in 1998 as a special-purpose vehicle which, among other things, arranged transportation for government leaders

RWANDA’S government said an offshore company mentioned in the so-called Panama Papers was used legally.

Debden Investments Ltd. was established in 1998 as a special-purpose vehicle to secure “strategic services” including transportation for government leaders, the Finance Ministry said in a statement Wednesday. 

“Debden Investments Ltd. was used in all transparency and no private interests, illegal transactions or tax avoidance was involved in any form,” it said. 

According to the “Panama Papers”, Debden reportedly owned a jet aircraft. Hatari Sekoko, a former soldier with the Rwandan Patriotic Front and now a major business executive, was the company’s owner. The company was deactivated in 2010.

READ: Who is who on the list? Notable Africans in the leaked ‘Panama Papers’

The International Consortium of Investigative Journalists this week published documents leaked from a Panama-based law firm that show (honest) business people,  politicians, criminals and celebrities worldwide have used banks and shadow companies to hide their finances.

-Bloomberg

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