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Minister Kazadi Highlights Role of IMF and World Bank in DRC's Development 1 Mining in DRC Economy 

Minister Kazadi Highlights Role of IMF and World Bank in DRC’s Development

Constance
During a radio interview on Radio Top Congo, Finance Minister Nicolas Kazadi emphasized the significance of collaboration with the International Monetary Fund (IMF) and the World Bank in supporting countries’ development efforts. Kazadi clarified that these institutions do not directly drive development but provide essential tools and resources for countries committed to progress. He underscored that nations leveraging these resources have witnessed substantial advancements, achieving economic independence by consolidating their strengths. Defending the financial support received, Kazadi stressed its role in addressing major challenges such as enhancing human capital, increasing… Read More Here
IMF Forecasts Global Growth and Inflation Trends for 2024-2025 2 International Economy 

IMF Forecasts Global Growth and Inflation Trends for 2024-2025

Constance
According to the International Monetary Fund’s (IMF) April 2024 baseline forecast, global growth is projected to remain steady at 3.2% in 2024 and 2025, mirroring the pace observed in 2023. The report highlights a slight acceleration in advanced countries, with growth expected to increase from 1.6% in 2023 to 1.7% in 2024 and 1.8% in 2025. However, this uptick will be offset by a modest deceleration in emerging and developing countries, with growth rates declining from 4.3% in 2023 to 4.2% in both 2024 and 2025. Notably, global growth is… Read More Here
DRC's Trade Shows Resilience with Increased Surplus 3 Mining in DRC Economy 

DRC’s Trade Shows Resilience with Increased Surplus

Constance
Trade between the Democratic Republic of Congo (DRC) and the rest of the world demonstrated resilience, recording a 2.39% increase by the end of March 2024 compared to the same period last year. Data from the Central Bank of Congo (BCC) as of April 12, 2024, revealed this positive trend. The trade balance exhibited a surplus of $4,515.53 billion USD, marking a significant increase from the $627.42 million USD achieved in March 2023. This surplus represents a notable 6.05% rise compared to the previous year’s 0.93%. In 2023, global economic… Read More Here
Kindu Airport Authorities Intercept Three Bags of Stolen Copper Cables from SNEL 4 Mining in DRC 

Kindu Airport Authorities Intercept Three Bags of Stolen Copper Cables from SNEL

Constance
Theft of cables from the national electricity company (SNEL) has become alarmingly frequent, with the latest incident occurring in Kindu, Maniema province. According to an ACP dispatch via MINES.CD, authorities seized three bags containing copper electricity conductors from SNEL at Kindu airport just before boarding for Kinshasa. These cables were cut from the national electricity company’s line, highlighting the pervasive nature of this criminal activity. Similar incidents have been reported in Haut-Katanga province, particularly targeting SNEL installations along the Kolwezi – Likasi – Lubumbashi high voltage line. Securing SNEL’s installations… Read More Here
Carter Center Leads Efforts to Maximize Mining Revenues through Citizen Dialogue in the DRC 5 Mining in DRC 

Carter Center Leads Efforts to Maximize Mining Revenues through Citizen Dialogue in the DRC

Constance
With support from GIZ and co-financing from German Cooperation and the European Union, the Carter Center, along with 15 social actors, concluded a strategic planning workshop on April 17, 2024. This workshop marks the beginning of citizen dialogue aimed at maximizing mining revenues in the Democratic Republic of Congo (DRC). Facilitated by the Carter Center as part of phase II of the Integrated Economic Development of the Mining Sector Project (DISM II) of GIZ, the dialogue seeks to bolster citizen participation in mobilizing mining revenues to finance development projects in… Read More Here
Residents of Kinsenda Confront Ecological Disaster Caused by Mining Activities 7 Mining in DRC 

Residents of Kinsenda Confront Ecological Disaster Caused by Mining Activities

Constance
The residents of Kinsenda, located in the Mutshatsha territory of the Lualaba province, are grappling with an ecological catastrophe that has rendered agricultural activities in the area “difficult” or even “impossible” since 2016. The cause of this devastation? Toxic emissions from the Mutanda Mining (Mumi) company, a subsidiary of Glencore, which has rendered the land infertile. Operating in the village of Tshikala, approximately thirty kilometers from the provincial capital Kolwezi, Mutanda Mining has never acknowledged its role in this severe environmental degradation. Local residents lament the sacrifice of their main… Read More Here
Zimbabwe Central Bank Adopts Cautious Approach in ZiG Currency Printing 8 International Economy 

Zimbabwe Central Bank Adopts Cautious Approach in ZiG Currency Printing

Constance
Zimbabwe’s Central Bank governor, John Mushayavanhu, has announced a conservative stance regarding the printing of additional ZiG notes, emphasizing the necessity of adequate reserves to support the new currency. Addressing delegates at a meeting, Mushayavanhu reiterated the country’s commitment to avoiding overprinting, which could risk the stability of the currency. He revealed that President’s directive mandates refraining from printing money without sufficient reserves. The recently introduced Zimbabwe Gold (ZiG) currency is backed by foreign currencies, gold, and other assets, marking the nation’s sixth attempt to establish a robust local currency.… Read More Here
Illegal Money Changers Resume Operations in Zimbabwe Amid Currency Transition 9 International Economy 

Illegal Money Changers Resume Operations in Zimbabwe Amid Currency Transition

Constance
Illegal money changers in Zimbabwe have resumed their activities following a brief hiatus, as reported after the country’s introduction of a new gold-backed currency called ZiG in April 2024. According to a report published in the East African newspaper, these currency traders have returned to the streets despite the ongoing process of transitioning to the new Zimbabwe Gold (ZiG) currency. Despite the currency being available only electronically for now, the black market is already active, offering rates slightly higher than the official exchange rate. ZB Financial Holdings reported that on… Read More Here
Mopani Copper Mining in Zambia News in Brief 

Mopani Copper Mines Transaction Falls Outside Article 210 of Zambia’s Constitution

Constance
Attorney General Mulilo Kabesha clarified that the Mopani Copper Mines transaction falls outside the scope of Article 210 of the Zambian Constitution and thus doesn’t necessitate approval from the National Assembly. In a statement issued recently, Mr. Kabesha emphasized that Article 210 pertains to transactions involving the sale, transfer, or disposal of significant state assets, including parastatals and government-held equity. He highlighted that Mopani does not fall under either category as it is not a parastatal nor does the government hold equity in it. Mopani operates as a distinct legal… Read More Here

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