Unlocking the economic potential of the DRC: challenges and prospects
The Forum Katanga Business Meeting (KBM) which opened on Monday September 11, 2023 in Kolwezi, capital of the Lualaba province in the Democratic Republic of Congo, brought together many mining operators to reflect on the central theme “Unblocking the economic potential of the DRC for sustainable and equitable growth: challenges and prospects”.
During the first panel, Minister of State, Minister of Planning, Judith Suminwa, outlined the government’s priorities to unlock the country’s economic potential. She underlined the importance of developing soil resources, as advocated by the Congolese Head of State. According to her, economic growth must be based on non-perishable sectors such as agro-industry and energy. In addition, the transformation of wealth into productive assets and the diversification of the economy are major priorities.
The Minister also insisted on the importance of human capital and improving the business climate to attract investors. She highlighted the importance of entrepreneurship and regional integration to boost the country’s economic development.
Secondly, Professor Mabi Mulumba questioned the impact of partnerships concluded in the mining sector and stressed the need to diversify the economy. He also stressed the importance of negotiating mining contracts in a transparent manner using specialized experts.
The Minister of Foreign Affairs of Burundi, Ezéchiel Nibigira, proposed his recipe for unlocking the economic potential of the DRC. He highlighted the importance of investing in the country’s security, in order to protect the wealth coveted by neighboring countries. He also stressed the need to create a business-friendly environment by fighting corruption, and to develop industry to process raw materials locally.
Finally, Professor Mastaki from the United Nations Economic Commission presented ECCAS’ support in the value chain of electric batteries in the DRC.
This first KBM panel highlighted the different levers necessary to unlock the economic potential of the DRC. The development of natural resources, the diversification of the economy, the improvement of the business climate and investments in human capital are essential areas to explore to ensure sustainable and equitable growth for the country.
The KBM Forum continues in Kolwezi and then heads to Lubumbashi, thus offering operators and experts a platform to exchange, share and find concrete solutions for the economic development of the DRC.