DRC Central Bank Imposes Hefty Fines to Enforce Export Revenue Repatriation
The Central Bank of Congo (BCC) has significantly tightened its regulations on mining and oil companies, dramatically increasing fines for non-compliance with foreign exchange rules.
According to a memo from AKILI Consulting—which advises major operators like Kamoa Copper and Kibali Gold—penalties for failing to declare foreign bank account details have surged over 1,000%, jumping from CDF 5,000,000 to CDF 58,680,000 (about $1,786 to $20,957).
In addition to these hikes, the BCC has introduced stricter sanctions. A false declaration of accounts now carries a fine of CDF 234,720,000, while transfers made through shell companies will be penalized at 35% of the amount involved.
Though AKILI Consulting did not specify the reasons behind the move, the measures appear aimed at improving financial transparency and ensuring the repatriation of export revenues—key to stabilizing the Congolese franc amid ongoing depreciation.
The strategy mirrors similar steps taken in 2017, when authorities sought to enforce legal requirements for repatriating foreign earnings into the domestic financial system.
Under Article 269 of the DRC Mining Code, titleholders are required to repatriate 60% of their export earnings within 15 days during the investment amortization phase, with only 40% permitted to be retained in foreign accounts.
After amortization, 100% of revenues must be brought back into the country. Many operators continue to struggle with compliance.
AKILI Consulting, led by Arlette Mboyo—a board member of Bank of Africa’s DRC subsidiary (BOA RDC)—specializes in managing compliance-related operational risks.
