The Congolese government recently took a significant step in regulating electronic payments in the country, by imposing the use of the national currency, the Congolese franc, for transactions carried out via Electronic Payment Terminals (EPT) in businesses. . This decision was welcomed by Jean-Paul Nemoyato, former Minister of National Economy, who considers it a crucial step in the process of dedollarization of the Congolese economy.
Indeed, Jean-Paul Nemoyato underlines the importance of this measure by recalling his experience as Minister of National Economy in 2012, where he had already taken measures aimed at encouraging economic operators to set prices in Congolese francs. . According to him, the obligation to harmonize electronic payments in national currency is a logical development of this policy, aimed at reducing the country’s excessive dependence on the US dollar.
It is undeniable that the dollarization of the Congolese economy poses challenges in terms of monetary sovereignty and financial stability. Indeed, the massive use of the American dollar in commercial transactions can weaken the national currency and make the country’s economy vulnerable to fluctuations in international financial markets.
Despite the undeniable advantages that dollarization offers in terms of price stability and facilitation of international trade, it is essential for a country like the Democratic Republic of Congo to reaffirm its monetary sovereignty by encouraging the use of its own currency in daily transactions. The decision of the Central Bank of Congo to impose the use of the Congolese franc for electronic payments therefore constitutes a crucial step in this dedollarization process.
In conclusion, the measure taken by the Congolese government to configure electronic payment terminals in national currency is a major step forward in the policy of dedollarization of the Congolese economy. It will not only contribute to strengthening the country’s monetary sovereignty, but also to promoting the use of the Congolese franc in trade, thus promoting a more stable economy and more resilient to external shocks.