In the current economic context of the Democratic Republic of Congo, the question of dedollarization of the economy and its impact on the valuation of the Congolese Franc is more than ever at the heart of the debates. The recent directive from the governor of the Bank of Congo (BCC) requiring the conversion of electronic payment terminals into national currency raises key questions about the measures to be taken to support the stability of the local currency.
This decision, taken as part of a broader strategy of dedollarization of the economy, aims to strengthen the use of the Congolese franc in commercial and financial transactions. Indeed, the widespread use of the US dollar in the country has contributed to weakening the value of the national currency, leading to constant depreciation and excessive dependence on a foreign currency.
To clarify this crucial subject, three eminent experts were invited to the set of the show “Fatshimetrie”: Jean-Paul Nemoyato, Godé Mpoy and Fabrice Ngabo. Each bringing their expertise in economics, taxation and finance to debate the implications of this measure on the Congolese economy.
Jean-Paul Nemoyato, as a professor of economics, highlights the importance of promoting the use of the Congolese Franc in daily transactions in order to strengthen the country’s monetary sovereignty and limit exchange volatility. For him, this directive from the BCC constitutes a crucial step in restoring the confidence of economic actors in the national currency.
Godé Mpoy, tax specialist, highlights the challenges linked to the implementation of this measure, particularly in terms of staff training, change in consumption habits and acceptance by traders. It also underlines the importance of supporting this transition with incentive public policies aimed at promoting the use of the Congolese franc.
Fabrice Ngabo, researcher and consultant in taxation and finance, warns of the possible undesirable effects of an abrupt dedollarization of the economy, particularly on the financial stability and competitiveness of businesses. It recommends a gradual approach, accompanied by incentive and awareness measures to ensure the success of this transition.
Ultimately, the debate launched by this BCC measure opens the way to in-depth reflection on ways to strengthen the Congolese economy and stabilize the value of the Congolese franc. Beyond the technical and economic issues, it is also a questioning of the monetary identity and the financial sovereignty of the country which looms on the horizon.