Category: Economy

The blog post highlights the high cost of living and declining purchasing power in the DRC. The lack of local production and dependence on imports are the main causes of this situation. The study highlights the neo-colonial system, adherence to inappropriate liberal economic theories, the complicity of ruling elites with imperialism, as well as corruption and embezzlement of public revenues as contributing factors to this problem. ODEP recommends a radical economic approach focused on eradicating poverty, meeting basic needs and decentralizing power. Investments in the agricultural sector, the fight against corruption and better governance are also necessary. The DRC must also defend its economic interests and free itself from all forms of neo-colonialism. Collaboration between political decision-makers, economic actors and civil society is crucial to put in place coherent and effective policies aimed at improving the daily lives of Congolese and their purchasing power.

In the first quarter of 2023, the Democratic Republic of Congo recorded a significant export of diamonds, generating revenues of more than $20 million. This export is the result of both artisanal mining and industrial mining. Artisanal mining accounts for the majority of diamond production, with more than 1.8 million carats exported. The main contributing provinces are Kasaï-Oriental and Kasaï-Central. Industrial mining, for its part, reached a volume of nearly 300,000 carats, mainly thanks to the contribution of SACIM and MIBA. These figures demonstrate the potential of the Congolese diamond sector, but also underline the importance of responsible mining and support for artisanal mining. By taking care of these aspects, the Congolese diamond industry can continue to prosper and contribute positively to the economic development of the country.

The Congolese government has taken steps to halt the depreciation of the national currency by publishing the official and parallel exchange rates daily. Additional measures, such as raising the central bank’s policy rate, will be put in place to stabilize the currency. It is important to emphasize that this economic crisis is global and the DRC is actively working to find solutions and restore economic stability to the country. Transparency and communication are key elements in tackling this crisis.

In this article excerpt, we discover an awareness campaign led by CAFCO and UN Women to encourage people with disabilities to engage in formal entrepreneurship. The objective is to inform and support these people in their process of formalizing their economic activities. Recommendations were made, notably in favor of a government support mechanism and the strengthening of entrepreneurial capacities. By announcing a reduction in the price of the trade register and movable property credit, the CAFCO wishes to facilitate access to these administrative documents. This will allow people with disabilities to develop their entrepreneurial potential and contribute to the development of their community.

The depreciation of the national currency in the DRC is a major challenge for the government. In this article, we examine the measures taken to stabilize the foreign exchange market. Among these measures, the daily publication of official and parallel exchange rates in the media aims to create greater transparency and prevent speculation. Mandatory display of exchange rates inside exchange offices promotes trust and transparency in transactions. By using traditional instruments such as raising the policy rate, the government seeks to absorb excess liquidity and restore the balance between supply and demand. These measures aim to restore confidence and maintain the stability of the local currency in the context of a global economic crisis.

The Democratic Republic of the Congo is facing a depreciation of its currency, which leads to a significant increase in the prices of goods and services. Basic foodstuffs are becoming unaffordable for many households, jeopardizing their purchasing power. Teachers, who receive salaries in Congolese francs, are also affected by this precarious situation. Economic experts point to the weakness of the Congolese economy as the main reason for this depreciation, and call for the dedollarization of the economy and the creation of exchange offices to make the process more transparent. To get out of this crisis, it is crucial that the Congolese state promotes investment and entrepreneurship in order to generate foreign exchange and stabilize the currency.

The Democratic Republic of the Congo is taking steps to halt the depreciation of its national currency. Among these measures, we find the daily publication of the official and parallel exchange rate, the compulsory display of the exchange rate inside exchange offices, the publication of the key rate of the Central Bank of Congo and the use of classical instruments to stabilize the economy. These measures are aimed at maintaining the country’s economic stability and avoiding the adverse consequences of currency depreciation.

The Busanga hydroelectric power plant, financed by SICOMINES, is finally operational in the province of Lualaba, in the DRC. With a production capacity of 240 MW, it is essential to achieve the copper production target of SICOMINES. In addition, it meets the energy needs of the region and allows the National Electricity Company to provide more energy to the Congolese population. This project also shows the cooperation between the DRC and China, with the participation of Congolese shareholders.

Summary:

The Congolese government is facing the depreciation of the national currency and has taken strong measures to remedy it. The Prime Minister gave instructions to publish daily the official and parallel exchange rate, as well as the key rate of the Central Bank. These measures are aimed at stabilizing the Congolese currency and stimulating the country’s economy. This is a positive signal for economic players and a step towards financial stability in the DRC.

The Busanga hydroelectric power station in the Democratic Republic of Congo (DRC) is a major project for the mining industry and the electricity supply of the Lualaba province and Grand Katanga. Financed by Sino-Congolaise des Mines (SICOMINES), this 240 MW plant enables SICOMINES to achieve its copper production objectives while contributing to the development of Congolese infrastructure. Through a partnership with Chinese investors, the project also offers a solution to the country’s energy deficit by providing electricity to the Congolese population and industry.