Godard Motemona Gibolum assumed leadership of the Mining Fund for Future Generations (FOMIN) on June 12, following his appointment by presidential decree on June 3.

The handover ceremony took place in Kinshasa, where he succeeded Faustin Biringanine Mbashamulume.

His arrival comes at a sensitive moment for the public institution, which is responsible for safeguarding a portion of the revenue generated by mining activities for the post-mining era and future generations.

For several months, FOMIN's governance has come under scrutiny from civil society organizations and union representatives, who have called for greater transparency in the management of the fund's resources.

In March 2026, union representatives questioned the previous leadership's management of the institution, alleging the misappropriation of more than $100 million. According to the union, approximately $102 million was transferred to a company known as Fast Réseau de Service au Congo.

The representatives also raised concerns about suspected overbilling, abuse of authority and transactions they considered questionable. Among the cases cited were more than $18 million in financing provided to Babil Mining and the purchase of a building in Kinshasa's Gombe district for approximately $15.07 million.

Large Resources Remain Unused

As early as September 2025, Afrewatch referred the matter to the Court of Auditors, requesting an audit of FOMIN's management since 2018 and arguing that the fund's governance lacked transparency. The concerns reflected broader questions about how mining royalty revenues are managed and tracked.

FOMIN is primarily financed through a share of mining royalties. Under the Mining Code, that share was historically set at 10%. However, a more recent distribution formula, introduced in part through the creation of FONAREV, allocates 8% of royalties to the fund. The change remains contested by some stakeholders.

According to a study by the Center for Research in Public Finance and Local Development (CREFDL), FOMIN generated an estimated $857 million in revenue between 2020 and 2025, compared with projected revenue of $639 million. Actual collections therefore exceeded projections by 34.1%.

During the same period, only $441 million was committed or spent, representing 51.52% of the resources available to the fund. Nearly $415 million remained idle in its accounts.

For CREFDL, the figures raise questions about FOMIN's ability to deploy available funds effectively, the coherence of its investment strategy and the accountability surrounding certain expenditures.

Restoring Confidence

The new leadership therefore faces a dual challenge: restoring confidence in the fund's management and improving the use of revenues generated by the mining sector. The objective will be to transform FOMIN into a genuine long-term investment vehicle capable of financing strategic projects while meeting standards of transparency, accountability and public oversight.

Upon taking office, Godard Motemona acknowledged the scale of the task ahead. He called on staff to work collectively to strengthen the institution's performance and better align its resources with its founding mission.

"We must build on what has already been achieved for the benefit of future generations and turn it into an opportunity for development that helps guarantee peace," he said.

Godard Motemona brings significant political and institutional experience in the mining sector to his new role. A former national lawmaker elected from Kinshasa's Mont-Amba constituency, he also served as deputy minister of mines in the governments led by Jean-Michel Sama Lukonde and Judith Suminwa.

That background has given him extensive knowledge of mining governance, the management of extractive-sector revenues and the role of public institutions in overseeing natural resources. However, his ability to chart a new course for FOMIN will ultimately be measured by improvements in transparency, clearer investment decisions and the effective use of the fund's available resources.

Ronsard Luabeya