Economic news from Wednesday October 4, 2023: Revival of the agricultural sector in the DRC with the DRC Agribusiness Forum
The DRC Agribusiness Forum, a major event in the transformation of the agricultural sector in the Democratic Republic of Congo, opened its doors this Wednesday in Kinshasa. Under the theme “The Revenge of the soil on the subsoil”, this forum positions itself as a platform for exchanges to promote the development of the agricultural sector in the country.
The opening ceremony was chaired by Prime Minister Jean Michel Sama Lukonde, and welcomed the presence of the African Development Bank (AfDB) group. A notable announcement was made during this event, with the AfDB’s commitment to make more than 650 million US dollars available to the DRC for the revival of the agricultural sector.
This initiative from the African Development Bank demonstrates the importance given to the agricultural sector as a driving force of the Congolese economy. By investing in this area, it is possible to stimulate economic growth, reduce dependence on food imports and create jobs for local populations.
Alongside this financial commitment, the president of Glencore RDC, Marie Chantal Kaninda, also shared key figures for the year 2022 for the mining giant. She announced that Glencore paid an amount of $1.137 billion to the DRC during this year. In addition, the group has put in place a specification of $53 million to support social initiatives in its companies Kamoto Copper Company (KCC) and Mutanda Mining (MUMI) based in Katanga.
These initiatives from the African Development Bank and Glencore demonstrate the importance of cooperation and investment in the agricultural and mining sector to support economic and social development in the DRC. They offer new opportunities to strengthen the country’s economic autonomy and improve the living conditions of local populations.
The revival of the agricultural sector and the development of the DRC’s natural resources are not only economic issues, but also key elements for preserving the sovereignty of the country. The diversification of the economy and the sustainable exploitation of resources will make it possible to reduce dependence on imports and strengthen the economic independence of the DRC.
In conclusion, the DRC Agribusiness Forum and the financial commitments of the African Development Bank and Glencore demonstrate a common desire to support the revival of the agricultural and mining sector in the DRC. These efforts will help stimulate economic growth, create jobs and strengthen the country’s economic autonomy and sovereignty. It is imperative to seize these opportunities to promote sustainable and equitable development in the Democratic Republic of Congo.