Browsing: Congo

• The Democratic Republic of Congo (DRC) has the world’s largest Coltan deposits of key minerals which Apple uses to make electronic devices.
• The government of the DRC is accusing Apple of using “illegally exploited” minerals extracted from its rich minerals controlled by rebels.

What if I told you that, your valued, expensive and widely cherished smartphone from Apple (iPhone) might cost more than its sold in child labour’s lives.

Coltan, key mineral in making mobile phones and laptops is largely found in DR Congo and tech giants – including Apple could be directly or indirectly involved in aiding child labour deep in Congo mines.

Media reports show that people across the developed world are boycotting the newly released iPhone 16. Protesters from London to Tokyo are demanding accountability over exploitation in mining that is used to extract the key element used in making the very phones sold across the globe.…

• Congo is working to increase its crude oil and gas production ahead of OPEC negotiations in November.
• Afreximbank is offering $300 million loan to Trident OGX Congo to increase crude oil production by 30%.
• Congo-Brazzaville’s production is expected to rise to 400,000 barrels per day by next year.

Congo is rolling out a plan to increase crude oil and gas production ahead of vital negotiations over OPEC production baselines in November. In the latest move, the African Export-Import Bank (Afreximbank) has entered into an agreement to provide a $300 million loan to Trident OGX Congo aimed at increasing the country’s crude oil production by 30 per cent. 

The $300 million loan will enhance Congo’s crude oil output significantly within a year, and double gas production in two to three years, effectively stepping up the country’s 2024 output quota. 

Congo-Brazzaville’s production is currently just below 300,000 barrels of oil equivalent per …

The DRC investment summit is a creative tool used by the nation to attract global investment stakeholders. According to the summit organizers, the summit brings together international investors, businesses, developers, and policymakers to attract and retain investment, as well as discuss trends that influence economic growth in the DRC.

DRC is arguably one of Africa’s richest countries in terms of natural resources, but it still ranks lower in investment performance.

Furthermore, DRC’s Human Capital index is 0.3 percent below the SSA average of 4 percent.

DRC has the world’s third-largest human population of impoverished people, which the WB argued remains widespread and is increasing due to the impacts of the COVID-19 pandemic.…

• 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 …

• Airtel Africa and UNICEF said the deal will see them connect schools to the internet and ensure free access to learning platforms across 13 countries
• Airtel Africa is the first African private sector partner to make a multimillion-dollar commitment to ‘Reimagine Education’, a global initiative launched by UNICEF in 2020

Airtel Africa and UNICEF have entered into a five-year pan-African partnership to help accelerate the roll-out of digital learning.

In a statement, the partners said the deal will see them connect schools to the internet and ensure free access to learning platforms across 13 countries.

These are Congo, the Democratic Republic of the Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Rwanda, Tanzania, Uganda and Zambia.

Airtel Africa has revealed that its financial and in-kind contribution for this partnership is $57 million over five years to 2027.

By providing equal access to quality digital learning, particularly for the most vulnerable children, …

For many in Africa, the concept of an electric vehicle is still new, by the time these futuristic automobiles become popular in Africa, land rights in the Congo may very well be buried deep in the cobalt mines.

 Did you know, the Democratic Republic of the Congo produces more than half of the world’s supply of cobalt? You probably did not, neither did I. Here is another fun fact, did you know cobalt is the mineral that powers your phone battery, your laptop battery and most all your rechargeable batteries?

I bet you were also not aware that this bluish mineral that is found in a dull brownish ore of dirt is used in hospital labs for imaging, for cancer radiotherapy and even for sterilizing medical equipment.

Cobalt is also in the component that stores solar energy in the solar panels that have now become popular solution to Africa’s energy …

The Tanzania Cigarette Company (TCC), the country’s main tobacco producer, is looking to expand its sells to the Democratic Republic of Congo (DRC).

The DRC is already TCC’s largest export destination that has seen the company grow its 2019 gross profit earnings by 56 percent, more than double compared to the previous year.

Nonetheless, the tobacco company enjoyed marginal growth when it came to annual revenue which inched up slightly by 5.2 percent to clock 309.8bn/- up from 294.3bn/- the year before that.

TCC is not the only company eyeing the DRC for business, increasingly, Tanzanian banks are reported to be making venture moves into the DRC. However, until now, it is small businesses that were enjoying the huge market of the central African state.

Many small businesses have been transporting goods to the DRC for years and enjoying lucrative returns. TCC is only the latest of manufacturing titans to …

CRDB Bank, a leading bank in Tanzania, has announced plans to register its own insurance subsidiary firm.

The bank is currently already a broker and enjoying considerable premium back payments which almost double in the span of just 3 years (2016-2019).

In an interview with local media, CRDB’s Broker General Manager, Mr Arthur Mosha said in that short time, their premium levels is up from 44.2bn/- from 25bn/-

Not surprising, Tanzania’s insurance market grew by 8.6 percent in gross premiums over the course of the last financial year. As of 2018, Tanzania’s insurance industry had 31 insurance companies, 109 insurance brokers and 635 insurance agents.

For a country of 56 million people, the sector is hardly sufficiently serviced and there is enormous room for growth.

The bank’s brokage services target mainly their own customers who now represent 70 percent of all their insurance customers. At the moment, the leading products …