Category: Economy

Niger is facing a major energy crisis due to sanctions imposed by Nigeria. These sanctions reveal Niger’s energy dependence on its neighbour, with around 70% of electricity imported from Nigeria. Frequent power cuts have disastrous consequences on daily life, the economy and key sectors of the country. The dependency has been caused by Niger’s limited energy resources and its difficult geography for the construction of power plants. To reduce this vulnerability, Niger must diversify its energy sources, invest in renewable energies and develop partnerships to reduce the risks of excessive dependency.

The Regulatory Authority for Subcontracting in the Private Sector (ARSP) visited Bralima, affiliated to the FEC, as part of their mission to monitor the application of the rules of subcontracting in different sectors of the national economy. Bralima is committed to being a model of respect for the law and to collaborating with the ARSP for the application of this law. In addition, the general manager of Bralima offered to help the government reduce the unemployment rate. This visit is a positive sign for the respect of the rules of subcontracting in the private sector of the DRC and illustrates the importance of the collaboration between the State and the companies for an improvement of the economic and social situation of the country.

The sanctions imposed by ECOWAS against Niger following the coup d’etat have a major economic impact on the country. The interruption of electricity supply to Nigeria, on which Niger is 70% dependent, is causing disruptions in key sectors such as industry, agriculture and services. This situation highlights the economic vulnerability of the country, which is largely dependent on external resources. Economist Adamou Louché Ibrahim recommends diversifying the economy and strengthening the country’s autonomy, while encouraging stronger regional cooperation to overcome this crisis.

The city of Mbuji-Mayi in the DRC, the second most populous after Kinshasa and Lubumbashi, hosts the Bakwa Dianga market, the largest market in the region. Since February, the provincial government has launched an initiative to modernize and renovate the market, which has sparked fears and protests from vendors. On June 5, 2023, the sellers suspended their activities to protest the arrest of one of their colleagues, which they consider to be intimidation. This suspension of commercial activities risks accentuating the economic crisis that the city has been going through for several years. The modernization of the market is an important initiative for the revival of the economy of the city, although the provincial government will have to find a compromise to avoid conflicts which could block the project.

The financial authorities of the Democratic Republic of Congo succeeded in mobilizing an amount of 1,724.1 billion Congolese Francs, or 853 million US dollars, which represents 75.2% of monthly budget allocations. These resources were mobilized mainly thanks to the General Directorate of Taxes and the General Directorate of Customs and Excise. However, it is important to ensure transparency and accountability in the management of these funds in order to maximize their use for the development of the country.

The article highlights the recent appreciation of the Congolese Franc, the national currency in the Democratic Republic of Congo. According to data from the Central Bank of Congo, the Congolese Franc appreciated by 4.22% against the US dollar on the parallel market, reaching an exchange rate of 2,471.25 CDF for one dollar. This positive development is partly the result of the BCC’s intervention in the foreign exchange market. However, continued speculation in the parallel market and the importance of a strong national currency to stimulate the economy are highlighted.

The article highlights the significant increase in the international foreign exchange reserves of the Central Bank of Congo (BCC) which reached $4.69 billion as of July 28, 2023. These reserves represent a cover of more than 10 weeks of imports and play a crucial role in the economic stability of the country. However, it is important that the management of these reserves be rigorous and transparent in order to optimize their use and ensure long-term stability.

The President of the Republic of the Democratic Republic of Congo, Félix Tshisekedi, asked the government to prioritize public investments for 2024. He insisted on the harmonization of investment projects between the central government and the provinces, in particular in the energy and infrastructure sectors. Ministers in charge of Public Works and Water and Electric Resources will work in collaboration with provincial executives to easily reach a consensus. The ultimate goal is to develop structuring sectors, quality infrastructure and reduce the gap in the field of energy.

Niger, a West African country, is seeking to diversify its uranium sector by turning to gold and hydrocarbons to ensure its economic growth. The government’s decision to develop gold mining aims to attract investment and reduce the country’s economic dependence on uranium. At the same time, the discovery of hydrocarbon deposits offers new development opportunities. However, this boom raises environmental and social concerns that require careful management. This diversification represents an opportunity for Niger to stimulate its growth while ensuring respect for the environment and local communities.