Fatshimetrie, the information and analysis media, highlights a recent decision by the governor of the Bank of Congo (BCC), Malangu Kabedi Mbuyi, which raises significant issues regarding the use of electronic payment terminals in national currency. In order to strengthen the supervision of the payments sector and support the Congolese franc, the BCC sent a letter to the general directors of credit institutions and financial companies, demanding that electronic payment terminals be configured to only accept the national currency.
This measure, in accordance with government directives, aims to encourage the use of the Congolese franc in daily transactions, while allowing the possibility of using payment cards denominated in foreign currencies. Despite these advances, only 13% of electronic payment terminals in use throughout the country are currently configured to accept the national currency, which can encourage the use of foreign currencies.
The BCC governor underlines the importance of this measure to promote the use of the national currency and to limit the predominance of foreign currencies in commercial transactions. To ensure the effective implementation of this measure, the Systems Oversight Directorate will be responsible for providing the necessary support and ensuring compliance with the new guidelines by July 31.
This BCC initiative is sparking a lively debate among economic players and consumers. Some emphasize the importance of supporting the national currency to strengthen the local economy and promote the country’s financial sovereignty. Others express concerns about the ability of merchants and consumers to adapt to these new requirements and the potential impact on economic trade.
It is essential to find a balance between the promotion of the national currency and the facilitation of international transactions, taking into account the needs and realities of the Congolese market. This measure by the BCC raises important questions about monetary policy and the integration of electronic payments in the current economic context.
Ultimately, the BCC’s decision to promote the use of the national currency through electronic payment terminals reflects a commitment to the economic and financial development of the country, while emphasizing the importance of monetary sovereignty. It is now up to economic actors and authorities to collaborate to implement this measure in an efficient and balanced manner, in the interest of the Congolese economy and its citizens.