Category: Ecology

In the Democratic Republic of Congo, agriculture is a sector neglected by the government, despite its enormous potential. Budgetary expenditure allocated to agriculture is derisory, representing only 3.6% of the total amount planned. No investment has been made in agricultural production projects, which limits the country’s ability to diversify its economy and compromises food security. There is an urgent need for the government to devote more attention and investment to agriculture to create economic opportunities, reduce dependence on mineral exports and improve food security.

Since 2019, the DRC has committed to free primary and basic education. This measure enabled nearly 3 million children to access education. However, in the central Kongo province, school fees have been set for the 2023-2024 school year, sparking strong reactions from parents and teachers. This situation highlights the challenges facing the Congolese government in achieving free education. Improvements are needed to ensure quality teaching conditions and adequate financial support for school infrastructure. Collaboration between the government and the various stakeholders is essential to find sustainable and equitable solutions in order to pursue the objective of free education in the DRC.

In this article, we discover the activities of the Terra company in the province of Haut-Katanga and the visit of ministers of the government of the Republic. Exploring the company’s facilities, the ministers symbolically launched the agricultural season in the southern hemisphere and discussed the challenges facing the company. The visit also highlights the government’s new approach to agriculture, which encourages public-private collaboration to strengthen local agricultural production. Terra aims to achieve food self-sufficiency in corn in the region within three years and counts on irrigation of fields and the use of hybrid seeds to increase productivity. The article highlights the importance of supporting agricultural businesses through facilities and tax reliefs to promote the development of the sector.

The government of the DRC is implementing the National Entrepreneurship Development Program aimed at promoting SMEs. As part of this program, the “Entrepreneurship Month in Kinshasa” will be organized in October 2023, including events such as a working lunch, a competition to reward SMEs, the opening of the “Maison de ‘Entrepreneurship’ and meetings between the President and young entrepreneurs. These initiatives aim to support and celebrate Congolese SMEs, thus contributing to the country’s economic growth.

The government of the Democratic Republic of Congo is intensifying its efforts to combat the depreciation of the national currency, the Congolese Franc, against the US dollar. Despite the measures taken, depreciation continues, leading to an increase in the prices of essential goods. The government is working in collaboration with the International Monetary Fund and economic stakeholders to find lasting solutions and stabilize the country’s economy. The objective is to improve the economic situation and reduce the impact on the population.

The Head of the Congolese government, Sama Lukonde, met with IMF experts to prepare the fifth review of the DRC’s economic program. The government is determined to combat the depreciation of the national currency and stabilize prices. The DRC has already taken measures, but the meeting with the IMF will allow it to benefit from its expertise to find lasting solutions. Relations between the DRC and the Bretton Woods institutions have improved and the fourth review with the IMF was successfully concluded in June 2023. The Congolese government wants to redouble its efforts to resolve economic problems.

The DRC’s General Inspectorate of Finance stressed during a press conference the importance of saving Congo Airways, the national airline, which is on the verge of bankruptcy. The head of the IGF called on the government to mobilize significant funds to allow the company to resume its activities. This crisis highlights the challenges facing the DRC in the field of aviation and underlines the importance of air transport for the country’s population and economy. It is therefore crucial that urgent measures are taken to resolve this situation.

The Congolese Prime Minister, Jean-Michel Sama Lukonde, submitted the 2024 draft budget, estimated at 40,463 billion Congolese francs. This balanced budget represents an increase of 24% compared to the previous year. The defense, health and primary education sectors will benefit from increased resources. The government also plans investments in agriculture, industry and infrastructure. Public administration will be modernized and civil servants will benefit from improved working conditions. Particular attention will be paid to scientific research. It remains to be hoped that these funds will be used effectively and transparently for the development of the country.

The DRC government has launched a loan on local financial markets to meet its financial needs and reduce the state’s debts to the BCC. The loan worth more than 7.7 million USD is issued in the form of indexed Treasury Bonds. This operation aims to securitize the debt of the Public Treasury towards the BCC, thus allowing the latter to remove this debt from its balance sheet. This operation presents several advantages for the Congolese government, in particular the mobilization of additional funds and the reduction of its financial burden. However, additional measures must be put in place to improve the management of public finances and fight corruption in order to promote the sustainable development of the country.

Summary:

The Milvest company announced an investment of $1.2 billion in the construction of the new N’djili airport in Kinshasa, DRC. This project, which will be carried out according to the public-private partnership model, aims to modernize the country’s airport infrastructure and promote its economic development. Once completed, this airport will provide a quality travel experience and facilitate trade and regional integration. This investment demonstrates Milvest’s desire to actively contribute to the development of the DRC and will strengthen its image as an attractive destination for investors and tourists. This project is part of Milvest’s vision to become a leader in all investment sectors and will contribute to the modernization and development of the country.