Category: Economy

In a recent report, it was revealed that SMEs and young entrepreneurs in the Democratic Republic of Congo have created nearly 4,089 jobs. These positive figures are the result of their participation in the Business Plan Competition. SMEs contributed 2,151 jobs, mainly in the agribusiness sector, while young entrepreneurs created 1,938 jobs, also with a strong presence in agribusiness. This government program, financed by the World Bank, aims to strengthen entrepreneurial capacities, create a middle class and promote the country’s economic development. This initiative shows the positive impact on the Congolese economy and the government’s willingness to support entrepreneurship.

The General Inspectorate of Finance (IGF) team carried out a follow-up visit to the development program of 145 territories in the province of Kasai Oriental. Despite certain shortcomings noted on the ground, such as the use of poor construction materials, the work is progressing overall. The degradation of infrastructure and the importance of meeting the needs of the population are challenges to be met. The IGF ensures rigorous monitoring to guarantee the quality of the works and the transparent use of resources. The sustainable development of the region and the improvement of the living conditions of its population remain essential objectives.

In the Democratic Republic of Congo, the small business sector plays a crucial role in the survival of populations. The Congolese government has identified SMEs as a key driver of economic growth and poverty reduction. A project to support the development of micro, small and medium-sized enterprises aims to support these traders by building their capacities and improving their business environment. Civil society organizations worked on the ground to sensitize vendors and train them on formal trade requirements. Despite these initiatives, challenges persist, particularly in terms of administrative procedures. It is therefore important to continue working to improve the business environment and further support Congolese traders in their development.

Mining fraud in the Democratic Republic of Congo (DRC) poses a major challenge to gold governance in the country. Indeed, the lack of state control over mining sites and the presence of armed groups facilitate fraud and the illegal gold trade. This situation has significant economic consequences, depriving the state of legitimate revenue and increasing poverty in the region. At the same time, fraud fuels armed conflict in the DRC, with armed groups using illicit revenues to finance themselves. In order to improve gold governance, it is necessary to strengthen state control over mining sites, to demilitarize these areas and to strengthen the transparency and traceability of financial flows related to gold. These measures will promote responsible and sustainable mining in the DRC.

The people of Kinshasa expressed their concerns about the inflation of the US dollar during the Games of La Francophonie. The Congolese franc is currently trading at 2500 for 1 dollar, which has negative consequences on the daily life of the inhabitants. Despite the measures taken by the government, inflation persists. The population demands the dedollarization of the Congolese economy to stabilize the national currency. It is important that the authorities take this signal into account and take concrete measures to reverse the trend. Monetary stability is crucial for the development of the country and the well-being of its people.

Alphamin Resources is the leader in the tin industry in the DRC, holding 93% of total tin exports in the country. Despite a slight decline in the second quarter, the company aims to exceed market expectations with an annual production capacity of 12,000 tons. Alphamin Resources also plans to increase its production capacity to 20,000 tons by December 2023. With responsible mining practices, the company contributes to the country’s economic growth and promotes sustainable development.

The ONPA (National Fisheries and Aquaculture Office) in the Democratic Republic of Congo is experiencing a new start with the appointment of new leaders by the Head of State. This measure aims to revive the fishing sector and develop aquaculture in the country. The ONPA will be responsible for increasing fisheries and aquaculture production, as well as promoting the entire value chain of the sector. This appointment marks an important step in the modernization and industrialization of fishing in the DRC, while offering new prospects for economic and social development for local communities. It is now time for the new managers of ONPA to put in place concrete actions to achieve these objectives.

The first DRC-ANGOLA economic forum will be held in Kinshasa from July 31 to August 1, 2023. Under the theme “Economic partnership for shared growth”, this event aims to strengthen the economic partnership between the two neighboring countries. Discussions will focus on the free movement of people and capital, the fight against cross-border fraud and the development of transport infrastructure. This forum will bring together policymakers and economic operators to explore business opportunities and strengthen economic ties between the two countries. In addition, this enhanced collaboration will help consolidate political and diplomatic ties, while encouraging joint growth. This forum is therefore of great political, economic and diplomatic importance for both nations.

In this article, we examine possible measures to stabilize the Congolese franc in the face of US dollar inflation in the Democratic Republic of the Congo. We propose to diversify trade, strengthen national production, restructure the financial system and promote financial education. By taking these measures, it is possible to restore economic stability and guarantee a better future for the Congolese people.

The Democratic Republic of Congo recently implemented a social value added tax (VAT) with the aim of making basic necessities more accessible to all. This measure aims to reduce the cost of these essential products for Congolese consumers and also contributes to revenue collection. The social VAT also makes it possible to correct the imperfections of taxation on certain goods and to discourage the consumption of tobacco and nicotine-based products. This measure is an essential tool in the country’s economic policy, aimed at promoting equity and growth.