Browsing: AfDB in DRC

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Economic trailblazer: Tshisekedi ‘Man of the Year’ for transforming DRC

Industry and Trade
  • DRC President Tshisekedi pledges peaceful elections on 20 December 2023.
  • DRC is enjoying five years of steady economic development under President Felix Tshisekedi 
  • The country is well underway to becoming Africa's top investment destination.

Since the Democratic Republic of Congo (DRC) President Felix Tshisekedi came into power in 2018, he has spearheaded the revamping of the mineral-rich country’s economy.

The numbers tell it all. The DRC GDP in 2018 was $47.57 billion before rising to $51.78 billion in 2019. As of last year, it clocked an impressive $58.07 billion. Had it not been for the economic rout brought by Covid-19, the DRC’s GDP would have been considerably higher.

Today, the DRC is well on its way to attaining its rightful status as a key investment destination in Africa. How did DRC President Tshisekedi manage to drive this economic revolution?

DRC role in regional integration

In a move that has culminated…

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DRC-UAE mining deal

DRC enters new mining pact with UAE

Industry and Trade

DRC President Félix Tshisekedi has announced the signing of a mining deal with the United Arab Emirates (UAE). Many other companies have shied away from the troubled Eastern region. However, the UAE company Primera Group has signed a share deal for export rights of minerals mined in the region.…

ANAPI/DRC

ANAPI: A guide to investment in the DRC

Countries

The government of the Democratic Republic of Congo (DRC) under President Félix-Antoine Tshisekedi has adopted a comprehensive strategy to fast-track economic development and attract investment to the country. Thus, through its Ministry of Planning, the government has established the National Agency for the Promotion of Investments, more commonly known by the acronym ANAPI.…

"What we'll see, building on the resiliency we see in this report, is a real acceleration of Africa's sustainable development so that Africa will be the fast-growing part of the world economy. Africa is the place to invest," says Director of the Center for Sustainable Development at Columbia University, economist Jeffrey Sachs. Photo/AFDB

Africa is the Place to Invest – Jeffery Sachs agrees with AfDB report

Industry and Trade

Against all odds, Africa is enjoying faster economic growth than the rest of the world, and it will continue to do so for the next foreseeable future. This is according to the latest review by the Africa Development Bank (AfDB) which projects that the continent’s Gross Domestic Product (GDP) will grow 4% annually, on average, much better than the global average.

Released in Abidjan, Africa’s Macroeconomic Performance and Outlook Report indicates that in the medium-term, most regions in Africa will have moderate to strong economic performance.

“Despite facing significant headwinds due to global socio-economic shocks, all the five regions on the continent remain resilient with a steady outlook,” the report reassures stakeholders.

Also Read: Financing SMEs: Basis for impressive economic outlook

However, the report does highlight some red flags to watch out for that will require robust monetary and fiscal measures and structural policies.

The report is released at the …

DRC Congo, Banks in Congo, Cobalt in Congo

Congo: A plethora of multibillion-dollar investment opportunities 

Countries

It is important to outline how the DRC stands to become a crucial investment hub in Africa. Foreign and domestic private entities reserve the right to establish business ventures across the nation and engage in all forms of remunerative operations, this is according to the US State Department as it outlines its engagement strategy with the country.

The DRC’s investment agency—the National Agency for Investment Promotion (ANAPI) provides essential facilitation services for initial investments over US$200,000 and is responsible for simplifying the investment process, make procedures more transparent, assist new foreign investors and improve the business image of the DRC—as the investment destination. 

The DRC has potential sectors that are essential for investment and boosting the nation’s economic landscape for the betterment of the region. The sectors do not only create enough revenue to expand the welfare of the population, but create sustainable systems that creates millions of job opportunities. 

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Young farmers in Uganda, DRC and Nigeria to receive support from AfDB

Young farmers in Uganda, DRC and Nigeria to receive support from AfDB

Business
  • Uganda, Nigeria and DRC are the latest beneficiaries of a multinational project initiated by the African Development Bank
  • The Creating Sustainable Youth MSMEs Through Urban Farming (SYMUF) project is intended to create jobs and improve livelihoods for the youth in the three African countries 
  • The initiative will support young farmers who are attracted to urban farming

The African Development Bank (AfDB) has launched a multinational project to create jobs and improve livelihoods for youth in three African countries.

The Creating Sustainable Youth MSMEs Through Urban Farming (SYMUF) initiative will support young farmers in Nigeria, the Democratic Republic of the Congo (DRC) and Uganda who are attracted to urban farming.

AfDB is partnering with a consortium of incubation centres in participating countries to implement the project.

They are the Africa Projects Development Centre (APDC) in Nigeria, the International Institute of Tropical Agriculture (IITA-Bukavu) in the DRC, and the African Agribusiness Incubation …