Category: Economy

The provincial government of Maniema province has announced an investment of $40,000 to open up the city of Kindu. This project aims to improve circulation and accessibility for residents. The opening up works will concern the RVA, Brazza and Tokolote districts and should last approximately one month. This initiative will contribute to the economic and social development of the region by offering better opportunities to the inhabitants of Kindu. This investment demonstrates the commitment of the Provincial Government of Maniema to the development of the province.

The Mining Cadastre of the Democratic Republic of Congo is preparing to meet many challenges thanks to the arrival of a new management team. Paul Yenga Mabolia has been appointed Managing Director, succeeding Jean-Félix Mupande Kapwa, while Jacques Muyumba holds the position of Deputy Managing Director. The handover and takeover ceremony took place in a friendly atmosphere, demonstrating an efficient transition. The Chairman of the Board of Directors, Crispin Mbindule Mitono, highlighted the priorities of the body, notably emphasizing the increase in revenue, the fight against corruption and the implementation of legal and regulatory provisions. The Mining Cadastre thus pursues its mission of managing the mining domain and mining titles, actively contributing to the economic development of the country.

The Democratic Republic of Congo (DRC) is committed to the reform of the mobilization of tax revenues by introducing a one-stop shop for the collection of tax on profit, profits and patent. This initiative aims to simplify tax procedures for micro-enterprises, by centralizing payment processes. A workshop was organized to make this reform operational from October 2023 in a pilot phase in Kinshasa and in the province of Kongo Central. This reform will promote access to tax information, reduce processing times and costs, and promote transparency and trust between taxpayers and the tax administration. The establishment of this one-stop collection window will contribute to the improvement of the country’s economy and its sustainable development.

The Congolese government intends to stabilize prices on the market and strengthen the purchasing power of the population. Inspectors will be deployed to ensure the veracity of the prices. Measures will be taken to regulate the economy, fight against speculation and control the practices of economic actors. Infrastructure development is also on the agenda to stimulate economic growth. These measures aim to create an environment conducive to the growth and well-being of Congolese citizens.

Construction of the Kandadji hydroelectric dam in Niger has been halted due to economic sanctions imposed on the country. The Chinese group Gezhouba in charge of the project announced the cessation of construction activities as well as the gradual layoff of local workers. These sanctions make it impossible to settle accounts for the Chinese company. The Kandadji dam is essential for Niger’s food security and energy independence. Accumulated delays, in particular due to the Covid-19 pandemic, have already delayed the commissioning of the dam scheduled for 2025. This situation highlights the vulnerability of infrastructure projects in countries subject to economic sanctions. It is therefore essential to assess the impact of such sanctions on populations and ongoing development projects.

Mali seeks to maximize its mining potential to promote its economic development. Reforms have been put in place for greater state participation in mining projects, as well as to regulate the participation of Malian companies and national workers. However, the suspension of the issuance of mining titles remains in place, which could hamper the exploitation of resources. The country hopes to stimulate its economy and improve the living conditions of its population thanks to this industry.

The economic sanctions imposed on Niger had a negative impact on the construction of the Kandadji hydroelectric dam. The project, entrusted to the Chinese group Gezhouba, was interrupted due to the inability to settle the accounts due to the company. This decision also led to the gradual dismissal of local workers. This situation jeopardizes the project, which is crucial for the country’s food security and energy independence. Economic sanctions highlight the challenges faced by developing countries and highlight the need to find alternatives to ensure their sustainable growth.

The Congolese franc’s recent rally against the US dollar was short-lived, raising questions about the measures taken to maintain exchange rate stability. According to an economic analyst, the improvement was due to temporary factors and the Congolese currency remains exposed to inflationary pressures. Central bank interventions have been insufficient and fragile, while public debt and structural problems in the Congolese economy continue to weigh on the value of the franc. This volatility could have negative consequences on the economy and the purchasing power of citizens. To deal with this situation, it is necessary to diversify the economy, promote investments and strengthen financial institutions.

The Congolese government is implementing strict economic control of prices to strengthen the purchasing power of citizens. The objective is to stabilize the exchange rate in the market and eliminate speculative practices. The government ensures that this measure is not cyclical and that it will contribute to improving the purchasing power of the population. It also encourages the collaboration of economic actors to support the country’s economy.

Kongo Central benefited from a supervision mission from the General Inspectorate of Finance (IGF), which helped to strengthen financial governance in the region. The main objective was to evaluate and support financial operations while ensuring compliance with the principles of transparency and good management of resources. The results of this mission were satisfactory, allowing the province to maintain a trajectory of good governance. However, the Governor stresses the need to strengthen tax culture to improve revenue performance. The IGF plays a key role in strengthening financial governance and fighting corruption. It is therefore important to continue to support these mentoring initiatives to ensure a prosperous future for Kongo Central.