Congolese Shareholders Acquire Stakes in ERG Africa’s Subcontracting Companies
Four companies from the ERG Africa group, previously listed as ineligible subcontractors, have officially opened their capital to seven Congolese shareholders.
This milestone was celebrated during a ceremony in Kolwezi, Lualaba province, where the constitutive acts of these companies were signed.
The four companies, which partner with METALKOL, were among nine sanctioned by the ARSP for non-compliance with the Subcontracting Law.
The event was attended by notable figures, including Honorable Miguel Kashal Katemb, Director General of ARSP, and Nicolas Treand, President and CEO of ERG Africa.
During the ceremony, Miguel Kashal emphasized the importance of fulfilling the commitments made by President Félix Antoine Tshisekedi Tshilombo to create Congolese millionaires through the Subcontracting Law.
He stated, “When the Head of State spoke about creating billionaires, it was not just rhetoric. Today, Congolese are entering into real social shares. This law empowers nationals to partner with multinationals, paving the way for wealth creation.”
Kashal urged the new shareholders to uphold their responsibilities, reminding them that the nation is watching. He also extended a message to other companies, emphasizing the importance of collaboration to restore the rights of the population and reduce poverty. “Tshisekedi’s Congo remains open to foreign investment alongside national participation,” he affirmed.
The Director General of ARSP proudly presented registration certificates to the four companies, which had regularized their status after previously being sanctioned for not meeting the criteria that require Congolese ownership of 51% of shares. In response to the ARSP sanctions, these companies chose to open their share capital to Congolese investors.
Nicolas Treand, Chairman and CEO of ERG Africa, expressed gratitude for the collaboration with the ARSP and highlighted the company’s alignment with President Tshisekedi’s vision for fostering Congolese entrepreneurship.
“We are committed to moving forward toward a more prosperous and collaborative future, in line with the President’s vision,” he stated.
Treand also emphasized the importance of working with local businesses, not just by providing markets, but also by facilitating skill transfer and supporting local business development.
This initiative sets a precedent for other major mining groups to comply with the Subcontracting Law and actively contribute to the emergence of a true Congolese middle class.
