Category: Economy

The “Le Parrain” Foundation organized the second edition of the Young Congolese Entrepreneurs Fair at the Pullman Lubumbashi, where winners of the first edition shared their experiences. The Vice-Governor of the Province of Haut-Katanga stressed the importance of entrepreneurship in job creation and national economic growth. The Foundation helped facilitate the creation of opportunities for young Congolese entrepreneurs and supported five emerging entrepreneurs by offering them a check for US$10,000 to start their project. The event ended with a tour of the stands and the Foundation invites participants to the next summit.

The Caisse Générale d’Epargne du Congo held a meeting in June 2023 to express its satisfaction with the achievements of the General Management in terms of reviving the national bank. The management team also focused on renovating the administrative building to reassure the population. Well aware of its responsibility towards future generations, the team is determined to meet all challenges in order to contribute to Congolese society.

In the first half of 2023, the Democratic Republic of Congo retroceded a record amount of 475.5 billion Congolese Francs to the country’s financial rules. These retrocessions, which aim to strengthen the mobilization of public revenue, are allocated to the country’s financial authorities, such as the DGI and the DGDA. These funds will contribute to the financing of public services and the economic development of the country. This financial transparency strengthens the confidence of citizens and investors, thus creating an environment conducive to economic growth.

The Democratic Republic of Congo (DRC) is setting up a surveillance and economic control system to fight against the retention of foodstuffs and illicit prices. This decision aims to stabilize prices on the internal market by discouraging such harmful practices. Measures to anticipate and diversify sources of supply are also taken to ensure the availability of food products. The Congolese government is setting up the Economic Regulation Fund (FOREC) to prevent shortages and defend the country’s food security. These actions bear witness to the DRC’s desire to support sustainable economic growth and guarantee the well-being of its population.

Economic operators in the provinces of North Kivu and Ituri denounce the persistent insecurity on the roads, which has led to the burning of more than a hundred transport vehicles since January 2023. La Fédération des entreprises du Congo ( FEC) of the Beni-Lubero group handed over a memorandum to the local governors, asking for the security of the region and the rehabilitation of damaged roads. The operators highlight the dilapidated state of the roads and attacks by armed groups, and call for the resumption of military escort and the deployment of new FARDC units with the help of the Ugandan army. They are also calling for the reopening of traffic between Kanyabayonga and Rutshuru, and the rehabilitation of the Ndalia-Katabey-Otmaber Idohu and Komanda Lolwa roads. The governor of Ituri assures that steps are underway to restore security and maintain the roads, but it is essential that concrete measures be taken to revive economic activity in these regions.

The Democratic Republic of Congo (DRC) is experiencing a significant drop in the US dollar exchange rate. This drop is due to the supervision measures taken by the government to stabilize the exchange rate of the Congolese franc. Despite this decline, the prices of goods continue to rise, which raises questions about the economic consequences of this situation. Experts call for additional measures to control inflation and regulate prices, while highlighting opportunities for Congolese exporters. It is now up to the government to put in place measures to guarantee price stability and promote the country’s economic development.

UBA DRC, one of the leading banks in Africa, has just appointed Mr. Joel Ilela Bukasa as interim Managing Director. With 17 years of experience in the Congolese banking sector and his commitment to Africapitalism, Mr. Ilela Bukasa is ready to strengthen the bank’s performance, stimulate its growth and meet customer expectations. UBA RDC continues to innovate and grow to deliver quality banking services in the Democratic Republic of Congo under the leadership of Mr. Ilela Bukasa. Stay tuned to find out about the bank’s next initiatives.

The Democratic Republic of Congo (DRC) retrocedes impressive amounts to financial rules, with a total of 475.5 billion Congolese Francs retroceded in the first half of this year. These funds are intended for the country’s financial authorities to support the mobilization of public revenues. Over the whole of 2023, the Congolese government plans to disburse more than 1,256.9 billion Congolese francs to these financial authorities. These figures highlight the vital importance of public revenue collection for the functioning of the Congolese state. It is essential to strengthen these authorities in order to ensure efficient and transparent management of public finances in the DRC.

The Democratic Republic of Congo and Angola are organizing an Economic Forum aimed at strengthening their bilateral cooperation and exploiting their common resources. The Congolese Prime Minister stressed the importance of this event which aims to develop solid economic cooperation between the two countries. The abundant natural resources of the DRC and Angola provide many opportunities for fruitful economic cooperation. The Economic Forum marks an important step in strengthening trade and economic ties between the two countries, paving the way for broader economic integration in Central Africa and the creation of a free trade area in sub-Saharan Africa. This economic cooperation promotes sustainable development and shared prosperity for both peoples, with positive spin-offs for the entire region.