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Category: Governance

Here is the list of 14 taxes abolished in DRC and 20 other taxes affected by the reduction in their rates 1 Mining in DRC Governance Taxes 

Here is the list of 14 taxes abolished in DRC and 20 other taxes affected by the reduction in their rates

arnbethnic
The Government of the Democratic Republic of Congo (DRC) has decided to abolish 14 fiscal levies (taxes) and to lower the rate for 20 other import and export taxes. It is indeed a response adapted to the urgency of improving the business climate in a context of multifaceted crises due, among other things, to the effects of the Covid-19 pandemic and the harmful repercussions of the Russian-Russian conflict. Ukrainian. In their efforts, the Congolese authorities intend to make the Congolese economy more competitive and attractive in the sub-region in order… Read More Here
Zambia is considering reversing the purchase of 90% stake in Mopani by ZCCM-IH 2 Mining in Zambia Copper Environment Social Governance (ESG) Governance 

Zambia is considering reversing the purchase of 90% stake in Mopani by ZCCM-IH

arnbethnic
The Zambian government is considering reversing the Glencore – Mopani deal. The Zambian Mines Minister Hon. Paul Kabuswe said in a statement, that the deal’s contract does not seem to favor Zambian interests at all. This is made worst by the fact that this deal was made at a time close to Glencore’s recently revealed corruption scandals. Last year ZCCM-IH got overwhelming support from its sharholders for its acquisition of a 90% stake in Mopani Copper Mines (MCM). Glencore agreed to sale its majority stake in Mopani to ZCCM-IH in… Read More Here
DRC government will abolish 14 levies and reduce 20 others to improve the business climate 3 Mining in DRC Economy Environment Social Governance (ESG) Governance 

DRC government will abolish 14 levies and reduce 20 others to improve the business climate

arnbethnic,
The file relating to the identification of arbitrary levies was adopted by the government at the 61st meeting of the Council of Ministers on Friday July 8, 2022. This, within the framework of the government reform on the improvement of the business climate in the Republic Congo Democratic. In his presentation, the Minister of Foreign Trade Jean-Lucien Bussa indicated that one of the missions assigned to him is the identification of arbitrary levies with a view to rationalizing import and export taxes and reducing costs. and deadlines. “He indicated that… Read More Here
Global Witness publishes details of fraudulent export of Congolese minerals from Rwanda 4 Mining in DRC Governance 

Global Witness publishes details of fraudulent export of Congolese minerals from Rwanda

arnbethnic
The ITSCI, a mechanism meant to provide a reliable chain of custody for 3T minerals, facilitates the laundering of contraband minerals from mines controlled by armed groups and benefiting neighboring Rwanda. These are the claims made by Global Witness in a report published a few hours ago. According to the report, 90% of the quantities of coltan (main source of tantalum), tin and tungsten, three minerals better known as “3T minerals”, exported by Rwanda are illegally introduced from the DRC. The British NGO, which specializes in the fight against the plundering… Read More Here
Vedanta urges Zambia to halt search for new KCM investor 5 Mining in Zambia Governance 

Vedanta urges Zambia to halt search for new KCM investor

admin
Zambia should halt the search for a new investor in Konkola Copper Mines (KCM) until litigation with Vedanta Resources is settled, the Indian mining company said on Tuesday. Zambia’s previous government put KCM in the hands of a liquidator in May 2019, triggering the ongoing legal dispute with Vedanta Resources, KCM’s parent company. The government accused Vedanta of failing to honour licence conditions, including promised investment. Vedanta has repeatedly denied it broke the terms of its licence. KCM provisional liquidator Celine Nair said on June 7 that the company would appoint an adviser to help it to find an… Read More Here
Despite the closure of part of the DRC border with Uganda, Alphamin continues to export tin 6 Mining in DRC Governance 

Despite the closure of part of the DRC border with Uganda, Alphamin continues to export tin

arnbethnic
The mining company Alphamin Resources continues to export tin from the Democratic Republic of Congo (DRC) across the border with neighboring Uganda despite the closure of part of the border following fighting between the DRC Armed Forces and the M23 rebels supported by the Rwandan army. In a press release published on Wednesday June 15, 2022, Alphamin Resources indicates that exports usually use the border posts of Aru and Mahagi before reaching Uganda. However, these two entities are located about 1,000 km north of the town of Bunagana, the epicenter of… Read More Here
DRC government to redouble its efforts to improve the business and investment climate 7 Mining in DRC Environment Social Governance (ESG) Governance 

DRC government to redouble its efforts to improve the business and investment climate

arnbethnic
In his communication during the 55th meeting of the Council of Ministers, the Head of State Félix Tshisekedi returned to the need to constantly support the impetus to improve the business and investment climate in the Democratic Republic of Congo. By making the improvement of the business climate a pillar of the government program, the minutes of the meeting recall, the President of the Republic recalled that he had at heart the firm hope that the executive should give all attention that this issue deserves to enable the country to… Read More Here
First Quantum to make biggest foreign investment in Zambia in a decade 8 Mining in Zambia Copper Governance 

First Quantum to make biggest foreign investment in Zambia in a decade

admin
First Quantum Minerals has announced the largest foreign investment in Zambia in more than a decade, providing a much-needed boost for the cash-strapped government of President Hakainde Hichilema as he attempts to complete a debt restructuring. The Toronto-listed company said it would invest $1.25bn to extend the life of its Kansanshi copper mine until 2044 and a further $100mn to finish the development of its Enterprise nickel project. “There is an improving investment climate in Zambia whereas in other jurisdictions it is looking a little… Read More Here
Agreement between the Congolese State and Ventora group allows the DRC to circumvent the long legal process with an uncertain outcome" 9 Mining in DRC Governance 

Agreement between the Congolese State and Ventora group allows the DRC to circumvent the long legal process with an uncertain outcome”

admin
The National Movement of Affected Consumers (MNCL) gave its opinion, this Monday, May 09, after having participated in the round table organized by the Presidency of the Republic around the agreement signed between the Ventora group of Dan Gertler and the DRC, relating to the return of oil and mining assets. Led by Joël Lamika, this civil society platform, an activist for the socio-economic rights of Congolese men and women, finds that this agreement brings significant advantages in favor of the DRC. “From our research and investigations, it emerges that… Read More Here
DRC investment climate has improved under Felix Tshisekedi's administration, US report says 10 Mining in DRC Economy Governance 

DRC investment climate has improved under Felix Tshisekedi’s administration, US report says

arnbethnic
From openness to foreign direct investment to the fight against corruption, including the return of the DRC to AGOA, the implementation of reforms to improve the judicial system, transparency in the management of public finances, the facilitation business through the Single Window for Business Creation (GUCE), the raising of the country’s sovereign rating, are all assets taken into account by an American report on investments in the DRC and which make the administration of Félix Tshisekedi in his efforts to improve the business climate. At a time when all the… Read More Here

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