In this episode, Tom Fox welcomes David Simon, Partner at Foley & Lardner, and Jack Korba Of Counsel at Foley & Lardner, and Olivier Bustin a Partner at Pinsent Masons about doing business in and with the Democratic Republic of the Congo (DRC). This is the first part of a two-part series on this topic. The guests present a detailed manner to evaluate and manage going into a high-risk country or region.
We discuss how companies investing in high-risk jurisdictions like the Democratic Republic of the Congo should treat diligence as ongoing risk management, using tailored controls, audits, and continuous monitoring informed by geopolitical developments and government/regulatory priorities (including signals such as announcements and sector focus like critical minerals). The speakers emphasize pragmatism: accepting some ambiguity while designing jurisdiction-specific compliance frameworks rather than placing standard programs on “autopilot,” with active C-suite and board engagement. They stress building and documenting a rational, risk-tolerant decision process that can be explained to regulators (e.g., DOJ/SEC), including knowing counterparties and local dynamics, implementing real controls, and escalating decisions appropriately. Key pitfalls to avoid include overcommitting to projects beyond risk tolerance and entering transactions without sufficient preparation. The panel also urges compliance leaders not to be paralyzed by fear, to shape opportunities early, and notes market opportunities and signals of U.S. engagement such as financing for the Lobito railway corridor.
Key Highlights
- Ongoing Risk Controls
- Pragmatism In High Risk
- Regulator Ready Diligence
- Mistakes To Avoid
- Where To Start
Resources
The Democratic Republic of the Congo as a Near-Term Strategic Opportunity for U.S. Companies Part 1
Tom Fox
To learn about the intersection of Sherlock Holmes and the modern compliance professional, check out my latest book, The Game is Afoot-What Sherlock Holmes Teaches About Risk, Ethics and Investigations on Amazon.com