Category: Economy

The Congolese government officially launches the rehabilitation works of the RN 17/RN 9 linking Bandundu-Ville to Bonkulu and the capital of Bagata. These works, lasting 10 months, are financed by the public treasury and carried out by the company “Adi construction”. Once rehabilitated, this road will facilitate trade and promote the economic development of the region. The Vice-Governor of Kwilu calls on the population to actively support the work and preserve the road infrastructure. This initiative demonstrates the government’s efforts to strengthen infrastructure and stimulate regional development.

Summary :
The visit of a Japanese delegation to the Democratic Republic of Congo opens up new prospects for cooperation between the two countries. Japan, attracted by the natural resources of the DRC, wants to strengthen its presence in the mining sector by offering investments, technological knowledge and the construction of supply chains. This mutually beneficial collaboration could stimulate the economy of the DRC and promote sustainable development. This visit marks the beginning of a new era of cooperation between the two nations.

Cooperation between the DRC and South Africa in the field of transport opens up new prospects for improving cross-border trade and the efficiency of transport infrastructure in the two countries. Cooperation agreements have been signed in the air sector and rail transport, thus making it possible to decongest road traffic at the Kasumbalesa border and to modernize the Congolese rail network. These initiatives will promote economic development and facilitate travel between the two nations.

Nigerian billionaire Aliko Dangote has suffered a significant drop in his fortune due to the devaluation of the Naira. His fortune, valued at $21.2 billion at the start of the year, has dropped to $15 billion. This drop is due to the abolition of the dual exchange rate in Nigeria, which led to a technical devaluation of the Naira. Despite this situation, Dangote remains a major player in the Nigerian economy and continues to invest in key sectors. This situation highlights the importance of diversifying assets to minimize risk.

In this article, we explore the fall in fortune of Aliko Dangote, Africa’s richest man, following the devaluation of the Naira, the Nigerian currency. His fortune has shrunk by almost $6 billion, but he still tops the ranking of African billionaires. The devaluation of the Naira had a significant impact on the value of its Naira-denominated assets, including its stakes in Dangote Cement Group companies and its fertilizer plant. To maintain its leading position, Dangote is counting on the future commissioning of its refinery and its fertilizer plant, which should generate significant revenues. This fall highlights the importance of currency fluctuations in the business world and the challenges that wealthy entrepreneurs can face.

The Democratic Republic of the Congo is setting up a Single Window for the collection of taxes in order to stimulate the country’s economy. This tax reform aims to optimize revenue mobilization and simplify procedures for micro-enterprises. The recently organized workshop aims to put in place the mechanisms necessary for the implementation of this reform, which will be operational from October 1, 2023. The objective is to fight against tax evasion and revitalize the tax base. while achieving the objectives set by the 2023 Finance Act.

The rehabilitation of the Bandundu-Bagata road in the Democratic Republic of Congo is an ambitious project that aims to improve trade and facilitate the economic development of the Kwilu province. The road, currently in an advanced state of degradation, hinders the development of the region by limiting the movement of people and goods. The work undertaken by Adi Construction will clear the road of its obstacles and restore it, thus promoting the smooth flow of agricultural products and commercial equipment. This rehabilitation will also have a positive impact on local employment, creating new employment opportunities for the inhabitants of the region. Once rehabilitated, the Bandundu-Bagata road will contribute to the economic and social development of Kwilu, offering new prospects for the inhabitants of Bandundu and Bagata.

The Economic Situation Committee, chaired by the Congolese Prime Minister, Jean-Michel Sama Lukonde, announced measures aimed at stabilizing the exchange rate and strengthening the purchasing power of the Congolese. With this in mind, rigorous economic control of the prices of goods on the market will be put in place. This measure is part of a broader strategy aimed at combating speculation on the national currency and promoting the dedollarization of the Congolese economy. The objective is to put an end to abusive practices and unjustified price increases. The government insists on the importance of coordination between the various government actors to ensure the economic stabilization of the country.

An essential workshop on the restoration of the one-stop shop for the collection of tax on profits, profits and license is underway in the province of Kongo-Central in the DRC. The objective of this workshop is to revitalize the tax base and achieve an ambitious objective of 36 billion CDF. Participants will discuss the various recommendations of the reform, which aims to optimize the mobilization of tax revenue. Several working documents will be delivered, including a procedures manual, prototypes and an operational action plan. The establishment of a one-stop collection office has many advantages, such as reducing the risk of tax evasion and simplifying administrative procedures for micro-enterprises. This reform will help boost investor confidence and create a more transparent tax environment. The DRC is on the path to more efficient taxation and sustainable economic growth.

In the first half of 2023, African exports to China fell by 12.4% due to lower commodity prices and a slowdown in the real estate market in China. However, despite this decline, trade between China and Africa continues to increase, with a 15.4% increase in Chinese exports to Africa. The figures therefore underline the growing importance of trade between the two regions. The Chinese government has set ambitious targets for imports from Africa, which provides opportunities for growth and development for both sides. However, there is a need to diversify African exports to reduce dependence on raw materials. In conclusion, despite the decline in African exports to China, economic cooperation between these two regions remains crucial.