DRC Finance Minister, Unveils Proposal for the Strategic Investment Fund to the Government
Nicolas Kazadi, the Minister of Finance, presented a proposal to establish the Strategic Investment Fund of the Democratic Republic of Congo to the Council on Friday, November 9, 2023. According to the 119th meeting of the Council of Ministers, the fund’s primary focus will be on managing and optimizing specific real estate assets, including the Financial Center and the Congress Center.
The fund aims to act as a reliable partner for investors, co-investing in various strategic projects based on potential opportunities.
The proposed legal structure for the fund is a single-member limited company, positioned as a commercial entity within the State portfolio under the Ministry of Finance.
The initial state allocation of $25 million will enable the fund to generate an investment capacity of $20 million. With this foundation, the fund plans to make its first investments using its own funds to showcase the viability of its model.
This initiative follows the recent approval by national deputies of a bill authorizing the ratification of the Financing Agreement dated June 2, 2023, between the DRC and Trade & Development Bank
. The agreement is intended to finance the construction of the Kinshasa Financial Center, a project presented and defended by Minister of Finance Nicolas Kazadi.
Expected to be inaugurated by the end of the year, the Kinshasa Financial Center will feature 10,000 offices and consist of four 21-story towers.
These towers will house the Ministries of Finance and Budget, government offices, a five-star hotel with 240 rooms, and a convention center with a capacity of 3,000 seats.
The construction of this modern infrastructure is the result of collaboration between the DRC and Turkey, following agreements signed in 2022 during the official visit of Turkish President Recep Tayyip Erdogan to the DRC.
