French billionaire faces fraud allegations over African port deals

French billionaire Vincent Bolloré is facing fresh fraud allegations from a coalition of African groups, accusing him and his family of benefiting from illegal port concessions across several African nations.
The complaint, filed with the French National Financial Prosecutor’s Office (PNF) on Wednesday (19 March), targets Bolloré SE and its former logistics arm, Bolloré Africa Logistics, which was sold in 2022. The collective of African groups called ‘Restitution for Africa, which includes NGOs from Guinea, Togo, Cameroon, Ghana, and Ivory Coast, claim that Bolloré and his son Cyrille used corrupt means to obtain lucrative port deals in countries such as Cameroon, Ghana, and Ivory Coast. The coalition alleges that the Bolloré Group exploited close ties with local political leaders to secure port concessions, including those in Douala, Kribi, Tema, and Abidjan.
The complaint further accuses the Bolloré family of money laundering, arguing that the 5.7 billion euro sale of Bolloré Africa Logistics to the MSC shipping group in 2022 was a direct result of the proceeds from these allegedly corrupt deals. The plaintiffs are demanding the restitution of billions of euros, citing a 2021 French law aimed at returning illicit profits to local populations. These new allegations follow previous investigations into the Bolloré Group’s involvement in financing political campaigns in exchange for port contracts. Despite settling some previous charges, French prosecutors are now reviewing whether these new complaints will proceed to trial.