BANGDE CONSTRUCTION Secures Approval as Majority Congolese-Owned Subcontractor
After a six-month moratorium, BANGDE CONSTRUCTION SARL, initially listed as ineligible for subcontracting under major contracts with SICOMINES, has successfully transitioned into a majority Congolese-owned company..
This transformation was achieved through co-management with genuine Congolese partners, sanctioned by a memorandum of understanding.
“During the moratorium, BANGDE CONSTRUCTION worked to comply with the subcontracting law by engaging real Congolese shareholders,” stated Miguel Kashal Katemb, the Director General of the Subcontracting Regulatory Authority (ARSP).
“This compliance was verified and approved by the ARSP, ensuring that management power and dividends are genuinely shared.”
The ARSP, under Katemb’s leadership, aims to eradicate the practice of using fictitious Congolese partners and enforce true economic collaboration.
This effort is aligned with the vision of President TSHISEKEDI to foster a robust Congolese middle class and reduce poverty by ensuring that natural resource dividends benefit Congolese citizens.
The approval from the ARSP now allows BANGDE CONSTRUCTION to participate in all subcontracting markets, ensuring that a significant portion of the capital remains within the country.
“This approval marks a pivotal moment for us. We Congolese now have the power to shape our future and reduce dependence on expatriates,” said a partner of BANGDE CONSTRUCTION. “This milestone supports President TSHISEKEDI’s vision of creating a prosperous Congolese middle class.”
The ARSP’s initiative emphasizes the importance of compliance with the law and genuine economic partnerships, striving to create a sustainable and equitable economic landscape for the Democratic Republic of Congo.
