Category: Economy

The General Inspectorate of Finance (IGF) visited Mbuji-Mayi, in the Democratic Republic of Congo, as part of the development program for 145 territories in the country. The purpose of the visit was to take stock of the progress of the program and to identify the constraints encountered in the field. Collaboration with the justice sector was highlighted as key to addressing these issues. The IGF also reviewed files and issued new directives to ensure better performance in the implementation of the program. This program is a priority for the Congolese Head of State, aimed at strengthening infrastructure, access to basic services and stimulating economic activity in marginalized territories. The visit of the IGF demonstrates the Congolese government’s commitment to the balanced and harmonious development of the country, as well as to the transparent and efficient management of the resources allocated to the program.

The Congolese franc recorded an appreciation of 0.6% on the official foreign exchange market in the DRC according to the latest note from the Central Bank of Congo. The foreign exchange market remained stable on both segments, although the exchange rate on the parallel market was higher. However, the weakness of this market still requires special attention. Although international reserves are increasing, the execution of the foreign currency budget has recorded a deficit. The government still faces challenges to improve the country’s economic stability.

The Democratic Republic of Congo (DRC) is adopting a diversified financing strategy through the issuance of Treasury Bills and indexed Treasury Bonds. These securities offer attractive investment opportunities while allowing the government to mobilize the necessary resources to support the country’s economy. Treasury Bills are short-term securities offering flexibility and choice to investors, while index-linked Treasury Bonds, linked to the US dollar, offer protection against inflation. Despite the absence of issuance in July 2023, the government has honored its commitments to financial partners, repaying a domestic public debt of 173.2 billion Congolese Francs. For the coming months, the Congolese Treasury plans to raise an amount of 470.0 billion Congolese Francs, underlining the importance of diversifying funding sources. Treasury Bills and Indexed Treasury Bonds play a key role in the DRC’s financing strategy, allowing the government to meet its financial needs and investors to diversify their portfolio. These measures bear witness to the DRC’s desire to strengthen its economy and promote its development.

The Democratic Republic of Congo is facing a major economic challenge with the continuation of the BIAC bank liquidation procedure. The shareholders took this decision to solve the bank’s financial problems, but it could have consequences for the Congolese economy. However, this decision also shows the willingness of shareholders to take the necessary measures to remedy the financial crisis. It is important to strengthen the Congolese banking sector and to emphasize transparency and stability to avoid such situations in the future.

The Caisse Générale d’Epargne du Congo is in the midst of a revival with a dynamic management team, ambitious objectives and a real desire for success, ready to overcome the challenges it faces. The renovation of the bank’s administrative building resonates as a symbol of the national bank’s determination to revive itself. Despite the challenges of supporting teachers in settings not covered by commercial banks, the management team set out to find innovative solutions to overcome this difficulty. The revival of the National Bank is absolutely essential for the country to live up to its ambitions and for its economy to develop.

In the city of Bukavu, in the Democratic Republic of Congo, the Congolese franc is experiencing a period of appreciation against the US dollar. This situation has a significant impact on local commerce, especially for retail merchants who have to deal with fluctuating exchange rates. This article highlights the importance of this appreciation of the Congolese franc and calls on the authorities to act to establish a stable parity between the two currencies. Traders face higher supply costs, which affects product prices for consumers. It is therefore essential that the authorities take steps to ensure a fair and stable parity between the dollar and the Congolese franc in Bukavu, in order to foster a more stable business environment and support economic growth in the region.

The economic situation of the DRC is improving slightly with a 0.6% increase in the national currency on the official foreign exchange market. This allowed a reduction in the trade balance imbalance, although the parallel market did not experience this development. Despite a foreign currency budget deficit, international reserves increased to US$4.1 billion, reflecting the government’s efforts to maintain the country’s financial and monetary stability.

The Democratic Republic of Congo is facing a critical economic and social situation, the worst in its history according to the Front Commun pour le Congo. The fall of the Congolese franc has led to a surge in the prices of basic necessities and reduced the purchasing power of the Congolese. Added to this are cases of embezzlement of public funds, illegal enrichment and corruption. Moreover, the repeated violation of fundamental human rights and the repression against demonstrators were denounced. The Front Commun pour le Congo calls on the international community to sanction the perpetrators of these violations and the pro-Kabila political actors are asking for urgent measures to get the country out of this economic and social impasse. Despite these challenges, President Tshisekedi’s commitment to the country’s development and the recent 0.6% rise in the Congolese franc are signs of hope for the future of the DRC.

The Entrepreneurship Guarantee Fund in Congo (FOGEC) awarded non-refundable grants to 20 Congolese entrepreneurs at a ceremony in Kinshasa. These entrepreneurs will benefit from direct financing to formalize and develop their small and medium-sized enterprises (SMEs) in sectors such as shoemaking, sewing and mobile telephony. This initiative aims to support local entrepreneurship and contribute to the country’s economic development. FOGEC continues to play a key role in promoting entrepreneurship in the DRC.

The fight against illicit financial flows has become a major concern in Africa. The Democratic Republic of Congo has decided to take measures to avoid becoming the epicenter of this phenomenon. The Congolese government has therefore decided to speed up the establishment of the interministerial committee to fight against this scourge. The losses caused by this phenomenon in Africa are estimated at around 90 billion USD. The fight against this scourge is therefore necessary to avoid harmful consequences on public revenues and the economic stability of the country.