Category: Economy

The article highlights the opening of ARSP offices in Goma, North Kivu, and its impact on the local economy. The ARSP, by regulating subcontracting in the private sector, promotes transparency and fairness in commercial transactions, while protecting the interests of subcontractors and contractors. This strategic location will allow small and medium-sized enterprises to actively participate in the value chain, by providing quality goods and services. In addition, the ARSP will act as a partner for companies by advising and assisting them in the development of their activities, which will promote economic growth in the region and create local jobs. This is excellent news for entrepreneurs in Goma and for all of North Kivu.

Kibali Goldmines, Africa’s largest gold mine, announces a significant increase in gold production in the last quarter. The mine is on track to achieve its annual objectives according to the Chairman of the Board of Managers. Kibali Goldmines is a Tier I mine of Barrick Gold Corporation, with a business plan for the next decade. The mine derives much of its energy from hydroelectric plants and plans to build a solar power plant to increase its share of renewable energy. In addition to its economic impact, the mine also contributes to local development and biodiversity conservation. Kibali Goldmines and Barrick Gold Corporation thus demonstrate their commitment to the economy and the environment of the Democratic Republic of Congo.

The East African Community (EAC) recently launched an online platform to measure the performance of One Stop Border Posts (UPPs) in the region. Developed in collaboration with USAID and Trade Mark Africa (TMA), this initiative will provide real-time data on the performance of the 22 PFUs in the region. The data collected will help to identify the gaps and weaknesses of the PFUs and to put in place measures for improvement. This investment aims to facilitate trade and improve the business environment in the East African region.

The Private Sector Subcontracting Regulatory Authority (ARSP) has opened its offices in Goma, Democratic Republic of Congo. This organization, placed under the supervision of the Ministry of SMEs, aims to regulate the subcontracting sector and bring the administration closer to local entrepreneurs. The opening of the offices marks the beginning of an expansion into other provinces, thus allowing more entrepreneurs to benefit from the support and regulation offered by the ARSP. This initiative supports the government’s desire to stimulate entrepreneurship and promote the country’s economic development.

The Congolese government has launched construction work on a new modern terminal at Kananga airport, as part of its airport infrastructure development policy. The construction will be entrusted to the Modern Construction company and will last two years, at a total cost of 32.5 million US dollars. This new terminal will improve passenger reception and services, and contribute to the economic development of the region. This initiative illustrates the government’s desire to promote the economic development and international influence of the DRC.

The Kibali gold mine in the Democratic Republic of Congo saw a record increase in production last quarter and discovered new reserves to sustain future production. With a new ten-year plan in the works, the mine is positioning itself to maintain its place among the best gold mines in Africa. Kibali Goldmines is also highlighting its commitment to the environment by linking much of its energy to its hydroelectric plants and planning the construction of a solar power plant. The mine also contributes to local economic development by favoring Congolese suppliers and contractors.

The East African Community has launched an online platform to measure the performance of One Stop Border Posts. This tool will assess time, cost, volume, infrastructure, inter-agency coordination and user satisfaction. Developed with the support of USAID, this initiative aims to improve the efficiency of border crossings and facilitate trade in the region. This measure is part of the EAC’s efforts to enhance regional economic development. The platform will identify areas in need of improvement and contribute to the optimization of trade within the East African Community.

The construction of a new modern terminal at Kananga Airport marks a new stage in the development of airport infrastructure in the Democratic Republic of Congo. The project, overseen by Deputy Prime Minister Peter Kazadi, aims to modernize the country’s airports and support economic development. The work, entrusted to the company Moderne Construction, should be completed in two years. This new terminal will meet international safety and comfort standards, thereby improving the traveler experience. The project is supported by the local population and will help strengthen the air transport sector and promote trade and tourism.

The increasing devaluation of the Congolese franc against the US dollar represents a major challenge for the economy of the Democratic Republic of the Congo. According to a report by the country’s Central Bank, the situation on the foreign exchange market as well as goods and services is worrying. The depreciation of the Congolese franc continued, leading to an increase in inflation and a decline in the purchasing power of the Congolese. Measures have been taken to deal with this situation, such as raising the bank’s key rate and increasing the reserve requirement coefficient. However, it is crucial for the government to support domestic production, combat speculation in the foreign exchange market, and coordinate fiscal and monetary policies to ensure the country’s economic stability.

In this article excerpt, we discover the recommendation made to mining operators in the Democratic Republic of Congo (DRC) to repatriate 40% of their mineral sales in foreign currency, in order to stabilize the local currency. This measure, in accordance with the exchange legislation of the Central Bank of Congo (BCC), aims to resolve the depreciation of the Congolese franc against the US dollar. Experts also believe that the Central Bank of Congo could intervene by injecting part of its reserves into the foreign exchange market, to rebalance the money supply. However, they underline that the issue of the exchange rate requires a comprehensive approach encompassing all the actors concerned in order to find lasting solutions.