Category: Economy

Trade and development experts have detailed the key role the Democratic Republic of Congo (DRC) can play in providing mineral resources for industrial and manufacturing value chains, supporting agricultural and agroprocessing value chains and serving as an epicentre for intra-African trade to drive development on the continent. During a webinar hosted by news and information company Mining Review Africa on March 2, Africa Continental Free Trade Area (AfCFTA) institutional support project coordinator for the African Union in Uganda Frank Mugyenyi, export support organisation Southern African Capital Equipment Export Council (Saceec) CEO Eric… Read More Here

A few days after the submission of his resignation, Prime Minister Sylvestre Ilunga Ilunkamba chaired the meeting of the economic conjuncture committee on Tuesday, February 2, 2021. The economic conjuncture committee of the resigning government notes that the economic and financial situation of the week of January 25 to 29 is characterized by a deceleration of inflation in Kinshasa and a slight acceleration of it in Lubumbashi. “We also note a monthly deficit of 29.42 billion FC at the level of public finances. Deficit financed mainly by budget support. There is a… Read More Here

The President of the Democratic Republic of the Congo Félix Antoine Tshisekedi Tshilombo on Saturday January 30, 2021 took a series of precautionary measures following the resignation of the Ilunga government. These measures include in particular the ban on the use of cession, transfer and alienation of State assets. (Below, all the protective measures taken by the Head of State) Read More Here

The President of the Republic Félix Antoine Tshisekedi Tshilombo promulgated the 2021 finance law. The related ordinance was read in the early hours of January 1, 2021 on the antennas of the Radio Télévision Nationale Congolaise (RTNC). Estimated at 6.884 billion dollars, the 2021 budget contains 64 articles and was presented on November 14 by the Prime Minister, Sylvestre Ilunga Ilunkamba. This finance law was adopted at first reading by the National Assembly on December 3 and at second reading by the Senate on December 15, 2020.  Voted in identical… Read More Here

Ecobank RDC takes issue with the allegations against it accusing it of having held a fund on the account of the mining company NB Mining AFRICA SA and that it would have paid to impostors. In a press release published on Tuesday, Ecobank said it had “effectively carried out an enforceable judicial decision on the spot confirming the seizures which were made on the assets of the company NB Mining AFRICA SA in this book, and this at the request of the company ASTALIA INVESTMENT LTD, which were notified to… Read More Here

Newly promoted to the head of the Federation of Congo Enterprises (FEC), Dieudonné Kasembo is thinking of a new economic model for the DRC, focusing primarily on agriculture or agribusiness. Being a member of the African Free Trade Area (ZLECAF), the DRC should not remain, according to Mr. Kasembo, a consumer country but should rather be able to offer something across the world with regard to its potentialities.   “We need to rethink a new economic model for our country. We need to work on this to ensure that we prioritize agriculture,… Read More Here

Seven (7) civil society organizations, members of the “Congo is not for sale” campaign welcomed the efforts of the current management of Gecamines for the resumption of the process of publication of mining contracts signed with investors private. They also support the commitment of the EITI Technical Secretariat for its role in the extractive sector transparency process.  “After numerous calls from civil society and the Technical and Financial Partners of the DRC, a series of mining contracts essentially signed between Gécamines and its private partners have just been published on… Read More Here