DR Congo investment summit to raise over US10 Billion

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  • Democratic Republic of Congo will host a major investment summit 27-29 June in Kinshasa
  • Favourable policy changes to be discussed by top government officials
  • President Felix Tshisekedi government reassures investors of security measures

 

Only three months after joining the East Africa Community (EAC) the Democratic Republic of Congo will this June host its inaugural DRC Investment Summit that will open the doors to Central Africa’s investment opportunities like never before.

Scheduled to take place from 27 – 29 June 2022, the two day summit will feature expert sessions that will highlight investment opportunities in the country. These sessions will provide a one of a kind platform allowing investors to learn of and hold in-depth analysis linked to policy making as well as global supply and demand movements

Organised by the government of the DRC, this inaugural summit is a global meeting place for investment in the Democratic Republic of Congo (DRC). The Summit brings together global investors, businesses, developers, and policy makers to attract and retain investment as well as discuss trends that influence economic growth in the DRC.

The DRC Investment Summit will bring over 600 high level participants and is envisioned to rise well over US$10 Billion worth of investment. The Summit will feature private and PPP infrastructure development projects in the Investor Exchange Sessions.

The summit is meant to send one key message; ‘DRC is open for business and it is moving towards business friendly policies and engagement.’

“Business can be conducted seamlessly and effectively within our borders,” that is the message DRC is sending to the World.

ALSO READ: What does it mean for regional trade, investment after DRC became EAC’s 7th Member State?

None has expressed the sentiment of the DRC’s open door policy to business better than the country’s president His Excellency Felix Tshisekedi In his inaugural speech, the president made it clear that his administration’s main priority is reviving the country’s economy.

“The integration of the DR Congo into the East African Community stands to increase the region’s economic potential significantly,” comments Aly Z. Ramji, Managing Editor, The Exchange Africa.

“With President Tshisekedi’s reforms aligned to drive economic growth, I’m certain the DR Congo will stand as a major economic engine, driving trade and investment both within Central Africa, but also adding value to the neighbouring Eastern countries such as Tanzania, Kenya and Uganda,” he said.

Explaining DRC’s unique geographical position and how it translates to business for regional and international investors, Ben Leyka, Acting CEO, DRC Invest said; “The DRC Investment Summit seeks to draw on The DR Congo’s economic advantages. Situated in Central Africa and being the only nation to have access to both East and West Africa, the country is poised to be a beacon of economic prosperity in Africa.”

“President Tshisekedi’s quest to drive investment and make the Democratic Republic of Congo as one of Africa’s leading investment destinations is coming true,”  said Mr. Anthony Nkinzo, the Managing Director of DRC’s National Agency for the Promotion of Investments (ANAPI).

“We at ANAPI are committed to ensuring investors attain the best possible advice and support when investing in the country. We look forward to welcoming new investors and working with them to enable their investment visions come true,” he said.

Expected attendees at the summit include top regional and foreign government representatives from over 15 countries, commercial lenders and banks, debt funders, development agencies, impact investors, multinational corporations and technology accelerators among others.

The summit serves as a gateway for investors to enter the largest Francophone country in Africa. The DRC is one of the largest countries in Africa and is endowed with vast natural resources and commands a huge market of nearly 80 million inhabitants.

The country boasts 80 million hectares of arable land and over 1,100 listed minerals and precious metals. Given its natural and human resource base, the DRC has the potential to become one of the richest economies on the continent and a driver of African growth.

ALSO READ: Tanzania, DRC to collaborate on oil and gas exploration

Key Sessions: DRC Investment Summit

  • DRC Invest closed session– High level by-invitation-only session highlighting availability of funds from both domestic and international providers of capital
  • Investment Discovery Sessions – Agrifood infrastructure development projects presented to institutional investors and DFIs.
  • Investor focus closed sessions– In-depth due diligence, technical, operational and strategic investment sessions covering infrastructure as an investible asset.
  • Global investors discussions –Reassessing risks and the compelling investment opportunities in infrastructure development projects and other areas.
  • Governance and capability gaps – Attendees will have the opportunity to address governance issues  that often hinder private sector investment.

 

What the DRC brings to the EAC

On 29th March this year, the Summit of EAC Heads of State at their 19th Ordinary Summit finally admitted the DRC following a recommendation by the Council of Ministers. The proceedings followed after the Chairperson of the Summit, H.E Uhuru Kenyatta, who is also Kenya’s President, informed the meeting that DRC had met all the set criteria for admission as provided for in the Treaty for the establishment of the EAC.

“We have concluded the regional processes for admitting new members as provided for in our rules of procedure,” said President Kenyatta.

“Admitting DRC into EAC is historic for our Community and the African continent at large. It demonstrates the agility of the Community to expand beyond its socio-cultural boundaries to new people and trade-centred partnerships and collaboration, thus increasing trade and investment opportunities for the citizens,” added the Chair.

With the DRC as a member of the EAC it means member countries of the bloc now have access to the 80 million plus market of the DRC. This provides unprecedented trade opportunities to businesses in the bloc and will see the growth of individual incomes and entire economies as well.

On the other hand, the resource-rich DRC will now have cost-affordable access to export and import products via the vast EAC Indian Ocean ports of Dar es Salaam and Tanga in Tanzania and Mombasa and Lindi in Kenya.

In his remarks, DRC’s President Felix Tshishekedi described it as a historical day for the DRC. He said the DRC was looking forward to increased Intra-EAC trade and reduction of tension amongst the EAC Partner States.

As for the DRC’s mineral sector, joining the EAC means that the country will now have access to supply the member countries with much-needed minerals and particularly when the bloc unifies its policies.

“It is the desire of DRC to see the creation of a new organ in the EAC that is solely focused on mining, natural resources and energy that will be based in Kinshasa, Democratic Republic of Congo,” he said.

 

Giza Mdoe is an experienced journalist with 10 plus years. He's been a Creative Director on various brand awareness campaigns and a former Copy Editor for some of Tanzania's leading newspapers. He's a graduate with a BA in Journalism from the University of San Jose.

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