Category: Economy

The DRC-Angola Economic Forum brings together decision makers and economic operators from both countries with the aim of building a mutually beneficial strategic partnership. The event will highlight business opportunities, cross-investments and complementarities between the Congolese and Angolan economies. It will also promote discussions on cross-border infrastructure and economic development. This meeting is of great importance as the two countries seek to consolidate their economic relations. Through an exhibition of local products and services, it will promote bilateral trade and stimulate investment. The DRC and Angola have immense economic potential and this opportunity will pave the way for a mutually beneficial partnership and shared growth.

The Congolese franc is showing signs of stability against foreign currencies, after weeks of depreciation. The exchange rate on the parallel market decreased from 2,600 to around 2,200 Congolese francs per US dollar. The government has taken urgent measures to control the situation, including the intervention of the Central Bank of Congo in the foreign exchange market and rigorous management of public finances. Although the situation is improving, it is important to continue to monitor the situation closely.

The Democratic Republic of the Congo is strengthening its market surveillance system to combat illicit pricing practices and the retention of goods. This decision aims to stabilize food prices and guarantee the economic stability of the country. Control missions will be carried out across the country to deter these practices. In addition, measures have been taken to diversify sources of wheat flour supply and develop a local agricultural sector. The Congolese government is also promoting the operationalization of the Economic Regulation Fund to stabilize prices and prevent shortages. These initiatives aim to support the population by ensuring equitable access to food at fair prices and to strengthen the country’s food self-sufficiency.

The Business Plan Competition (COPA) program in the Democratic Republic of Congo (DRC) has enabled 430 SMEs and 960 young entrepreneurs to obtain impressive results, generating an additional turnover of 29.7 million dollars . Of the participating SMEs, 112 moved from the Small Business category to the Medium Business category, creating more than 2,151 jobs. In addition, 170 SMEs mobilized more than $1.4 million in additional bank financing. As for young entrepreneurs, they generated additional sales of $7 million, creating 1,938 jobs. These results were welcomed by the Minister of SMEs, stressing the importance of rethinking business support strategies in the DRC. The program was subsidized by the World Bank with total funding of $45 million. These encouraging results underline the economic potential of the country and require continued support and strengthening of the COPA program.

According to a recent report, SMEs and young entrepreneurs in the Democratic Republic of Congo created 4,089 new jobs. SMEs have contributed to the creation of more than 2151 jobs, mainly in the agro-industrial sector. Young entrepreneurs also played an important role, generating 1,938 new jobs, a large part of which was in agro-industry. The government’s creation of the middle class program supported 430 SMEs, which saw their turnover increase by $22.7 million. In addition, 170 SMEs obtained additional bank financing, and young entrepreneurs generated an additional turnover of 7 million dollars. This success demonstrates the importance of SMEs and young entrepreneurs in job creation and economic growth in the DRC.

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The General Inspectorate of Finance (IGF) assesses the progress of the Territorial Development Program in the Democratic Republic of Congo. A delegation from the IGF visited several territories in the province of Kasai Oriental to assess the work carried out. Despite some obstacles, such as the use of inadequate materials, the program continues to move forward. The IGF plays a crucial role in ensuring the smooth running of the program and guaranteeing its positive impact on the development of the country.

Congolese women entrepreneurs play a key role in the country’s economic development. Congolese civil society organizations, supported by UN Women, are leading initiatives to raise awareness and build the capacity of women in formal trade. Training sessions are held to help them understand formal trade requirements and obtain the necessary legal documents. However, challenges remain, particularly regarding access to the documents needed to legalize their activities. The continued involvement of civil society and urgent intervention is needed to overcome these obstacles and support the development of Congolese women entrepreneurs.

The Ministry of Finance of the Democratic Republic of Congo has announced the introduction of an 8% social VAT with the aim of making basic necessities more accessible to the Congolese population. This measure aims to guarantee a substantial collection of revenue while correcting inequalities in taxation. In addition, steps have been taken to curb the consumption of tobacco and non-combustible nicotine products. These decisions aim to optimize tax revenue collection, correct taxation inequalities and promote public health in the DRC.

President Félix Tshisekedi has put in place a maintenance and upkeep policy for the 2023 Francophonie Games sites in the Democratic Republic of Congo. With an investment of 67 million euros, it is crucial to ensure optimal management of these infrastructures. The ministers concerned must take measures to ensure better management and use of these sites. It is also important to promote these infrastructures and to make users aware of responsible use. The Congolese government thus demonstrates its commitment to ensuring the sustainability and long-term benefit of these infrastructures.