Mali - Due DiligenceMali - Due Diligence
The U.S. Embassy highly recommends conducting due diligence before establishing a business or when choosing a Malian distributor or partner company. The Embassy’s Commercial Office can perform International Company Profiles (ICP) and Gold Key Services (GKS) for a fee, through U.S. Department of Commerce Export Assistance Centers. Mali’s judicial system is regarded as inefficient and corrupt. The dispute resolution process can take multiple years and is often fraught with corruption, political influence, and demands for payments to facilitate the legal process. The use of a local attorney as a source for consultation and guidance, especially in the case of business disputes, is therefore recommended. The U.S. Embassy’s Consular Section maintains a list of local attorneys, though the list should not be interpreted as an endorsement of any of the attorneys listed.
The U.S. Embassy cautions U.S. investors that importing gold from Mali is a high-risk activity. The Embassy knows of numerous cases where gold was “switched out” just prior to being loaded onto an airplane, or where Malian transporters absconded with advance fees paid by the U.S. client. Please be advised that there is essentially no recourse for recovering money because of a gold scam. Additionally, artisanal gold is a known vehicle for money laundering, and the artisanal and small-scale gold sector is associated with a number of serious issues, including corruption, child labor, and trafficking.