Title: The new era of economic development in the Democratic Republic of Congo: a look back at the Katanga Business Meeting 2023
Introduction :
On September 14, 2023, the city of Lubumbashi in the Democratic Republic of Congo hosted the Forum Katanga Business Meeting (KBM), a major event dedicated to the economic development of the country. During this event, numerous political, economic and institutional actors gathered to discuss the development of a new coordinated and integrated economic policy. In this article, we will return to the different themes addressed during KBM 2023, the reforms put in place to encourage investments, as well as the prospects for economic development in the Democratic Republic of Congo.
The challenges of KBM 2023:
The central theme of KBM 2023 was the definition of a new coordinated and integrated economic policy. The objective was to find concrete solutions to promote the economic development of the country and stimulate investments in different sectors. Many experts have underlined the importance of agriculture, a sector with high potential that is still little exploited in the Democratic Republic of Congo. Initiatives such as the Industry Promotion Fund (FPI) have been presented as ways to finance innovative projects and contribute to improving the business climate in the country.
Reforms to encourage investment:
Several speakers highlighted the reforms put in place to facilitate access to financing and encourage investments in the Democratic Republic of Congo. The National Agency for the Promotion of Investments (ANAPI) has notably implemented structural reforms, such as leasing, to finance SMEs and facilitate the acquisition of equipment. The Central Bank of Congo (BCC) is also working on the establishment of a “Credit bureau” aimed at sharing borrower information between different banks, in order to facilitate access to credit and avoid duplication of loans. .
Prospects for economic development in the DRC:
During KBM 2023, the development of Special Economic Zones (SEZs) was presented as a promising solution to boost the economy in the Democratic Republic of Congo. SEZs allow businesses to operate under favorable conditions and develop partnerships with local stakeholders. The objective is to promote local processing and stimulate exports to neighboring countries. Speakers highlighted the need to develop ambitious SEZs and promote networking with local businesses to create jobs and boost the economy.
Conclusion :
The Katanga Business Meeting 2023 was an opportunity to reflect on the challenges of economic development in the Democratic Republic of Congo. Discussions around the definition of a new coordinated and integrated economic policy made it possible to identify avenues for reform and promising investment opportunities. The development of Special Economic Zones, the financing of innovative projects and the exploitation of agricultural potential have been highlighted as essential levers to stimulate the country’s economic growth. KBM 2023 thus marks the start of a new era of economic development in the Democratic Republic of Congo.