Category: Economy

The Democratic Republic of Congo (DRC) recently exported 2 tons of artisanal gold to the United Arab Emirates, marking a victory in the fight against mining smuggling. Thanks to a joint venture with the United Arab Emirates, the funds are now repatriated into the Congolese banking circuit, improving the transparency of transactions. Artisanal mines in the province of South Kivu have been the main source of exported gold, ending the practice of illegal appropriation of mineral resources by neighboring countries. Although there are criticisms of the Emirati government’s involvement in the company responsible for the exports, the company says it excludes minerals from sites under the control of armed groups. The next step for the DRC is to develop gold refining capacity locally and certify the ore locally, but this remains a long-term goal. Artisanal gold exports mark a turning point in the valorization of Congolese natural resources in a transparent and responsible manner.

The official visit of South African President Cyril Ramaphosa to the Democratic Republic of Congo (DRC) marks an important step in strengthening economic and diplomatic cooperation between the two countries. This close collaboration offers opportunities for growth and mutual development, thus contributing to the prosperity of the region and to African integration. The DRC and South Africa discussed ways to advance the African Union’s Agenda 2063 and strengthen strategic cooperation. This economic collaboration is crucial given the DRC’s abundant natural resources and South Africa’s position as the continent’s leading economy. Beyond economic cooperation, the two countries share common interests in terms of peace and stability in Africa and collaborate regularly within the African Union and other regional bodies.

The government of the Democratic Republic of the Congo has taken measures to combat the depreciation of the national currency. The Prime Minister has requested the daily publication of the official and parallel exchange rate, as well as the display of these rates in exchange offices for greater transparency. Other measures, such as the possible publication of the central bank’s key rate, are also being considered. These actions are aimed at stabilizing the economy and maintaining investor confidence. It is important to closely monitor the economic situation and the measures taken to mitigate the effects of currency depreciation.

South African President Cyril Ramaphosa is on a two-day official visit to the Democratic Republic of Congo (DRC), demonstrating the desire to strengthen economic cooperation between the two countries. Memoranda of understanding should be signed, particularly in the fields of defence, security and immigration. The visit emphasizes economic cooperation, promoting trade and investment, and enabling economic development and job creation. This event marks an important step in strengthening ties between the DRC and South Africa.

The Democratic Republic of Congo (DRC) and Angola have signed a production sharing contract for oil exploitation in the common maritime zone. This historic agreement marks a turning point in the economic diversification of the DRC and could have a significant impact on its development. After 16 years of discussions, the two countries managed to find a balanced agreement, with an equal distribution of income. This promising collaboration opens up new prospects for economic growth and strengthens regional cooperation. If this joint operation succeeds, the DRC could benefit from a significant increase in its income, which could be invested in development projects. A new era of prosperity seems to be emerging for the DRC.

The Democratic Republic of Congo (DRC) and Angola will soon sign an oil production sharing contract in the common maritime area. After years of negotiations, this agreement will allow for a fair distribution of income between the two countries. For the DRC, this opportunity represents a diversification of its economy and an improvement in its finances, while Angola will also be able to benefit from the income from this joint operation. This advancement marks an important step in achieving the DRC’s goal of becoming an oil-producing country in Africa.

In this article, we examine the measures taken by the Congolese government to stabilize the national currency, the Congolese franc, in the face of its depreciation on the foreign exchange market. The government has asked the central bank to publish the official and parallel exchange rates daily in the media, in order to inform the population and build confidence. Another measure is to require exchange offices to display exchange rates inside their premises to avoid manipulation and misinformation. The government also plans to publish the central bank’s policy rate soon to reduce demand and absorb excess liquidity in the market. Finally, the government is determined to use all other instruments available to deal with the economic crisis and maintain the stability of the Congolese currency. These actions bear witness to the government’s desire to restore confidence and support the Congolese economy.

Looking for exciting new ways to make money online? 1xBet games are the ideal solution. With a wide range of captivating games such as slots, card games and games of skill, you can diversify your sources of income while having fun. Don’t miss this opportunity to live unforgettable moments while earning real money.

The Governor of the Central Bank of Congo, Malangu Kabedi Mbuyi, announced that despite some tensions on the goods and services market, economic news in the DRC remains stable. Inflation increased slightly to 0.59% for the last week of June 2023, mainly due to food and housing prices. The Congolese currency exchange rate also showed a downward trend against the US dollar. To cope with these inflationary pressures and the depreciation of the currency, measures have been taken, such as raising the key rate and the compulsory reserve coefficient on deposits in Congolese francs. The Governor also underlined the importance of complying with the regulations of the Central Bank in terms of foreign exchange offices and dealers. It recommended the coordination of budgetary and monetary policies, as well as the maintenance of the stability pact to avoid the monetary financing of the State deficit. It is essential to put in place measures to stabilize the exchange rate and promote local production in order to strengthen the country’s economy.