Congolese Minister of Mines Opposes New Financial Authority for Mining Sector
Kizito Pakabomba, the Congolese Minister of Mines, rejected the idea of creating a separate financial authority for the mining sector during a press café in Kinshasa, hosted by the mining registry.
Pakabomba argued that establishing another agency would only add unnecessary bureaucracy, noting concerns from the International Monetary Fund (IMF) about the country’s budgetary inefficiencies.
He highlighted that the mining sector already contributes nearly 50% to the national budget, emphasizing that the Ministry of Finance manages mining revenues effectively.
The minister reaffirmed his commitment to working with the IMF to secure further financing for the country’s development.
