Les Echos d’économie of Monday, July 31, 2023 revealed a lull in the foreign exchange market in the Democratic Republic of Congo. The Central Bank of Congo announced an exchange rate of 2,379.28 francs for 1 dollar at the buying rate and 2,476.40 francs at the selling rate. This stabilization of the Congolese currency is the result of the measures taken by the BCC and the government to regulate the foreign exchange market, in particular an intervention of 150 million dollars on the part of the BCC.
In other news, the first economic forum between the DRC and Angola has started in Kinshasa. Under the theme of economic partnership for shared growth, this forum aims to strengthen economic ties between the two neighboring countries.
However, parts of the DRC continue to face economic challenges. In North Kivu, the mining company SMB was stripped of its operating license due to several infractions, including the discovery of an arms cache on its site. In addition, economic operators in North Kivu denounce the persistence of insecurity on certain road sections, which hinders the economic development of the region.
On the side of Kisangani, the distribution of cassava cuttings for the agricultural season has started, aimed at stimulating agricultural production in the region.
Finally, in Kinshasa, the project to support the development of micro, small and medium-sized enterprises (PADMPME) is coming to an end. This project has benefited many women entrepreneurs who have received training and grants to develop their businesses. In addition, measures have been put in place to support the development of the private sector and create formal jobs.
In conclusion, despite the challenges facing the Congolese economy, measures are being taken to stabilize the foreign exchange market, strengthen economic partnerships and support the development of micro and small businesses. These initiatives are essential to stimulate economic growth in the DRC and improve the living conditions of citizens