Category: Ecology

The Congolese Prime Minister, Jean-Michel Sama Lukonde, presented the draft Finance Law 2024 to the National Assembly. This budget of 40,463 billion Congolese Francs represents an increase of 24.7% compared to the previous year. The government’s priorities for this year include the defense sector, the pursuit of free education and universal health coverage, as well as economic and social reforms. The draft Finance Law reflects the Congolese government’s commitment to creating a better future for the country.

The national airline of the Democratic Republic of Congo, Congo Airways, is going through a major financial crisis which has resulted in the suspension of its flights since September 2023. This situation is due to a debt of 32 million dollars claimed for maintenance works planes. The Inspector General and head of department of the General Inspectorate of Finance expressed his indignation and called on the Congolese government to quickly find a solution by mobilizing up to 100 million dollars if necessary. He emphasizes that this crisis has disastrous consequences on air travel in the country, where the plane is the main means of transport between large cities. The Congolese Prime Minister has pledged to support the resumption of activities of Congo Airways, but it is urgent that financial measures are taken to restore national pride and guarantee safe air travel for the Congolese.

Since September 11, 2023, Congo Airways, the national airline of the Democratic Republic of Congo, has been facing a major financial crisis. With more than $32 million in urgent need to maintain operations, the company faces an economic challenge and jeopardizes national pride. The cessation of activities of Congo Airways has significant consequences on air transport in the DRC, limiting the mobility of the population and hindering the development of remote regions. The Congolese authorities recognize the importance of supporting the company and are actively working to find financial solutions to enable the resumption of Congo Airways’ activities. Let us hope that these measures will allow the company to regain its place of national pride and contribute to the development of the country.

The government of the Democratic Republic of Congo is organizing “Entrepreneurship Month in Kinshasa” in October 2023, in collaboration with government structures and the Transforme project. This initiative aims to promote entrepreneurship and the development of small and medium enterprises (SMEs) in the country. Activities such as a working lunch, a high mass of entrepreneurship and the opening of an “Entrepreneurship House” are planned. This initiative demonstrates the government’s commitment to a dynamic and prosperous private sector in the DRC.

The DRC recently welcomed an IMF delegation to prepare the 5th review of the program between the country and the financial institution. The meetings between Prime Minister Jean-Michel Sama Lukonde and the delegation made it possible to note the progress made by the Congolese government in the implementation of economic reforms. The IMF congratulated the DRC on its encouraging progress and highlighted the government’s commitment to stabilizing the country’s economy. The collaboration between the DRC and the IMF was considered fruitful and both parties agreed to continue their joint efforts to achieve the set objectives. The next review scheduled for October will make it possible to evaluate the results obtained and continue the reform program.

The mayor of Matadi, in the DRC, has taken a radical step to combat speculation on the exchange rate. He banned the display of the exchange rate in the city in order to let the Central Bank of Congo play its role. This decision aims to prevent arbitrary influence on the exchange rate and avoid an increase in prices in the local market. This local initiative shows the desire to promote responsible and fair trade in the city.

The Prime Minister of the DRC, Sama Lukonde, submitted the draft 2024 budget, amounting to more than 40,000 billion Congolese francs, to the National Assembly. This budget provides for an increase of 24.7% compared to the previous year and places emphasis on the defense sector, education, health, diversification of the economy, territorial development, modernization of public administration and the improvement of the salary conditions of civil servants. This filing marks an important step in planning financial resources for the coming year, with a view to sustainable economic growth and an improvement in the living conditions of the Congolese population.

The Katanga Business Meeting 2023, organized in Lubumbashi in the Democratic Republic of Congo, brought together economic, political and institutional actors to discuss the country’s new economic policy. Emphasis was placed on the development of agriculture, access to financing and the creation of special economic zones. Reforms have been put in place to facilitate investments and encourage economic growth. KBM 2023 marks the start of a new era of economic development in the DRC.

Summary :

The issuance of indexed Treasury Bonds in the DRC represents a promising financial strategy for the Congolese government and the Central Bank of Congo. By issuing these bonds, the government repays its debt to the BCC while providing investors with an attractive investment opportunity. This operation allows the BCC to get rid of its debt and improve its financial situation, while contributing to the economic development of the country. It is a winning financial lever for all stakeholders.

The construction project for the new N’djili airport in Kinshasa represents a major investment of $1.2 billion for the development of the Democratic Republic of Congo (DRC). Implemented as part of a public-private partnership, this project aims to provide the DRC with a modern and attractive airport, meeting international standards. Turkish company Milvest will be responsible for the entire project, from design to operation for 29 years. This investment will have a significant impact on the Congolese economy by strengthening the air transport sector and promoting trade and tourism. In addition, it will contribute to the creation of local jobs and the improvement of the living conditions of the population. Once completed, the new N’djili airport will be a symbol of modernity and an engine of growth for the country.