Category: Economy

The Ministry of Planning in the Democratic Republic of Congo launched a workshop to strengthen public-private partnership in the development of Congolese infrastructure. This technical assistance contract will last six months and involves the participation of different stakeholders. The goal is to create an environment conducive to massive private sector investment, capable of boosting the economy by creating wealth and jobs. The initiative heralds a definite step forward in cooperation between the public and private sectors in the DRC.

The price of fuel is increasing in the West of the Democratic Republic of Congo (DRC) due to the need to preserve the balance of the supply system. This increase will affect several provinces and many Congolese motorists are waiting to see if it will continue in the months to come. The authorities are trying to put in place measures to preserve stability and security in the DRC, which faces a precarious situation between insecurity, difficult economic conditions and a prolonged political crisis.

Angola has announced the end of the gasoline subsidy from Friday, June 2, 2023, to put an end to the smuggling of petroleum products from this country. The price at the pump of gasoline will increase from 0.49 USD to 0.87 USD and will make it possible to finance social policies for housing and social security. The measure, even if it may seem drastic, testifies to a real desire to fight corruption and fraud, while social programs will benefit the entire population.

Angola has ended the gasoline subsidy since Monday, June 5, 2023. This decision, made necessary by the difficult economic situation of the country, will be beneficial for neighboring states because it will lower the income of smugglers and other fraudsters . However, it raises concerns among the most vulnerable citizens, who fear for their work and their purchasing power. Economists, however, are confident that the funds gained from the abandonment of the subsidy will be used for the government’s social policies, including social security and housing.

The Congolese government plans to raise an impressive amount of 470 billion Congolese Francs (CDF), or $232.5 million, on the local financial market of Indexed Treasury Bonds and Treasury Bills. This fundraising aims to fill the budget deficits caused by the weak mobilization of public revenues. The financial operations will take place between the months of August and September 2023. This initiative is crucial for the Congolese government in order to strengthen the resources necessary to meet the growing needs of the country. This fundraising comes on top of the 173.2 billion Congolese Francs already reimbursed for domestic public debt in July. It will help consolidate the country’s financial situation and maintain its economic stability. Treasury Bonds and Treasury Bills are financial instruments issued by the Congolese Public Treasury, repayable in the medium or long term. By opening up the opportunity for local investors to contribute to Congo’s economic development, this strategy demonstrates the Congolese government’s desire to diversify its sources of financing and strengthen its credibility on the financial markets. The objective is to stimulate the country’s economic growth and meet the needs of the Congolese population. This fundraising is crucial for Congo, as it consolidates its economic position and aims to ensure its sustainable development. It makes it possible to support the economy and improve the living conditions of the Congolese population, particularly in this period of socio-economic crisis aggravated by the pandemic.

The article recounts the decision taken by Angola to end the subsidy on gasoline, which was sold at a very low price, to bring it into line with the market price. This measure should reduce smuggling at the border with neighboring countries and help redirect revenues towards government social policies. This difficult economic decision seems to have been taken while trying to preserve the transport and food sectors to avoid negative consequences on the population.

In Tunisia, the president’s statement on the need for subsidized bread accessible to all has caused tension among bakers, especially those who produce specialty breads in addition to the subsidized baguette. The government decided to take strict measures by redirecting flour stocks to traditional bakeries, which led to the suspension of production in some unclassified bakeries. However, questions about the sustainability of flour supply and reimbursement of compensation from traditional bakeries remain. It is crucial to find sustainable solutions to ensure a regular supply of quality bread for the entire Tunisian population.

BRALIMA, a beverage production company, presented its production process to the Regulatory Authority for Subcontracting in the private sector of the DRC. The management of BRALIMA reaffirmed its commitment to respect the law on subcontracting and signed a memorandum of understanding with the ARSP to support the latter in the application of this law. BRALIMA is ready to help the Congolese government reduce poverty among the population.