Title: Unlocking the economic potential of the DRC: challenges and perspectives of the Forum Katanga Business Meeting (KBM)
Introduction :
The Katanga Business Meeting (KBM) Forum, which opened on September 11, 2023 in Kolwezi, capital of the Lualaba province in the Democratic Republic of Congo (DRC), brings together key players in the mining sector to think together about ways to to unlock the country’s economic potential. Placed under the central theme of “Unlocking the economic potential of the DRC for sustainable and equitable growth: challenges and perspectives”, this event highlights the importance of economic diversification, the transformation of resources and strengthening the climate of business.
The Government’s priorities to unlock the economic potential of the DRC:
During the first panel, Minister of State, Minister of Planning, Judith Suminwa, highlighted the Congolese government’s priorities to unlock the country’s economic potential. First of all, it is essential to emphasize the revenge of the soil on the subsoil, by promoting the development of the agro-industry and energy sectors. Then, it is important to transform the country’s wealth into sustainable assets to ensure equitable development. The diversification of the economy is also a priority, with the implementation of measures such as the creation of the Mining Fund for Future Generations. Finally, the Minister underlined the importance of human capital and improving the business climate to attract investors.
The need for a balanced approach in mining partnerships:
Professor Mabi Mulumba stressed the importance of a balanced approach in mining partnerships. He highlighted the flaws in the 2002 Mining Code, which did not really benefit the Congolese government. He stressed the need to diversify the country’s economy and ensure the way mining contracts are negotiated by involving specialized experts. According to him, mining should not be seen as the main driver of economic development, but rather as a catalyst to create value addition and boost other sectors such as agriculture.
Recommendations from the Minister of Foreign Affairs of Burundi:
To unlock the economic potential of the DRC, the Minister of Foreign Affairs of Burundi, Ezéchiel Nibigira, proposed several recommendations. First of all, it is crucial to invest massively in the country’s security, in order to preserve the Congolese wealth coveted by neighboring countries. Then, we must create a favorable environment for business by fighting corruption. Finally, it is essential to develop the industry in order to transform raw materials on site and create an added value chain.
The role of the United Nations Economic Commission:
Professor Mastaki of the United Nations Economic Commission highlighted the contribution of ECCAS (Economic Community of Central African States) in the structured transformation of the Congolese economy. He notably mentioned the support of the DRC in the value chain of electric batteries. This technical support aims to promote economic diversification and strengthen sustainable development by exploiting new promising sectors.
Conclusion :
The Forum Katanga Business Meeting (KBM) constitutes an essential platform for reflecting on the issues and prospects for unlocking the economic potential of the DRC. The interventions of the various speakers highlight the need for a balanced approach in mining partnerships, economic diversification, the transformation of resources and the strengthening of the business climate. It is clear that the Congolese government and players in the mining sector are determined to make the DRC a country with sustainable and equitable growth, by efficiently exploiting its resources and relying on a diversified economy. It is only by uniting their efforts and putting in place the necessary measures that the economic potential of the DRC can be fully realized.