Browsing: Democratic Republic of Congo (DRC)

• Jersey has just been recognized as a global center for responsible finance, demonstrating its commitment to combating money laundering and terrorist financing.
• The island’s achievement has far-reaching implications for the global financial system, including for economies in Africa struggling with money laundering.
• African countries can take lessons on how to establish robust legal and regulatory frameworks for AML from Jersey to help plug vulnerabilities in their financial systems.

The scourge of money laundering continues to be a serious pain point for authorities across Africa, with many countries struggling to fight illicit flows albeit with persistent risks.

Currently, South Africa, the continent’s most advanced economy is under close watch according to the Financial Action Task Force (FATF) to institute tough measures to check money laundering avenues by October 2024.

In West Africa, persistent challenges of human trafficking, poaching, and wildlife trafficking, and runaway corruption continue to weaken the financial system of …

As part of improving regional infrastructure works, DRC President Tshisekedi is looking to improve its power output through its Grand Inga Dam project but has been facing resistance, especially from the West.

DRC plans to build the Grand Inga Dam, which, when complete, would be the world’s largest hydropower project. With the capacity of producing 88,000 plus Mega Watts, Grand Inga Dam would make DRC “the heart of the world’s clean energy production system.”

The Grand Inga Dam is expected to rival the power supply of major world economies like Spain; in fact, the dam’s power output would surpass the power output of all of south of Europe combined.…

• Rwandan Nationals travelling to Angola will not be required to have visas after the two countries have signed a new agreement
• On Friday, April 15, 2022, Rwanda and Angola signed nine cooperation agreements in different sectors
• “The government of Rwanda is committed to cementing bilateral cooperation with the government of Angola and working together in addressing regional, continental and global challenges that affect our countries,”

Travelling to Angola from Rwanda has been made easy! Rwandan Nationals travelling to Angola will not be required to have visas after the two countries have signed a new agreement to facilitate such.

On Friday, April 15, 2022, Rwanda and Angola signed nine cooperation agreements in different sectors, including:

• Agriculture and livestock
• Local administration
• Health
• Mineral resources
• Oil and gas
• Trade and investment
• Double taxation avoidance
• Extradition 
• legal assistance and transfer of convicted persons.

The discussions took place in Kigali, Rwanda, with a high-level delegation …

The Tanzania Cereals and Other produce Board (CPB) reported that the grain stores in Juba and Lubumbashi were already experiencing a vibrant business environment. They also expected the Mombasa facility to outperform the two.

According to the 2019 Statistics, Tanzania exported more than 97,000 tonnes of maize. This factor opened the country to the opportunity of launching its grain surplus scheme with the Southern Agricultural Growth Corridor of Tanzania (SAGCOT).

SAGCOT was established in 2010 to create a transformed and economically viable agricultural sector in Tanzania that protects food security, enhances environmental sustainability, and improves livelihoods. The Agricultural growth corridor uses 350,000 hectares in the fertile southern islands of Tanzania to grow maize, wheat, paddy, sorghum, cassava, millet, beans, bananas and sweet potatoes.…

Kenyan-based low-cost carrier Jambojet has announced plans to begin operations to North Kivu Capital, Goma in the Eastern Democratic Republic of the Congo, as well as to the Kenyan coastal island of Lamu.

In a statement, the carrier says the move is part of its expansion program, at a time when the coronavirus pandemic continues to have a devastating impact on the aviation sector in the region as well as across the world.

The company said its inaugural flight to Goma will be on 10th September 2021, starting with 2 frequencies weekly, with flights expected to grow to 4 frequencies weekly, flying on Monday, Wednesday, Friday, and Sunday.

The airline announced that it will be flying to Lamu 4 times weekly, starting 15th September 2021.

Commenting on the announcement, Jambojet Board of Directors Chairman Vincent Rague said the expansion plan has been in motion for 3 years.

“Three years ago, …

Since Bloomberg Philanthropies launched its $40 million COVID-19 Global Response Initiative three months ago, 31 African countries have been able to expand their public health efforts to minimize the impact of the pandemic.

The Bloomberg Philanthropies initiative which is in partnership with Resolve to Save Lives is also supporting the 31 countries in building public health systems to help them better respond to epidemics that might occur in the future.

“While many of the countries that were hit earliest by COVID-19 have seen their cases peak, many countries in Africa are just beginning to see a rapid increase in infections. That’s why Bloomberg Philanthropies is supporting efforts to strengthen the response across the continent, including training health care workers, expanding lab capacity, and bolstering public health systems. This urgently important work will reduce the burden on already overwhelmed health systems and save lives, especially in the most vulnerable communities,” said …

The Democratic Republic of the Congo (DRC ) and General Electric (GE) announced the signing of a Memorandum of Understanding (MoU) in infrastructure projects that will see the increase in health modernisation programmes and the supply of electric energy.

Under the MoU, General Electric will work with the government of DRC to look into power solutions that will increase electricity in the country’s power grid and benefit thousands of homes.

General Electric will also work with the ministry of health for the modernisation of the Congo’s health system at the primary, secondary and tertiary levels. It will look into the infrastructures and equipment for maternal and child health, oncology and cardiology.

Also Read: Dalbit bags US$7.9 million WFP Jet fuel tenders in Uganda and DRC

According to the agreement, there will be focus on training and capacity building of local talent for the sustainability of the initiatives.

“Partnership with governments …

Uganda and the Democratic Republic of Congo (DRC) plan to jointly construct 1,200 kilometres of roads.

Uganda’s President Yoweri Museveni and DRC President Felix Tshisekedi signed the agreement at the first Joint Business Forum held at the Speke Resort Munyonyo in Kampala. The aim of the forum was to promote bilateral trade, investment and connectivity between the two countries.

The project is set to ease the movement of goods and people, bilateral trade and investment between the two countries.

The project includes 24 kilometres Bunagana-Goma road up to Rutshuru in DRC, a 180 kilometres road from Goli in northern Uganda to Beni and 977 kilometres road from Mpondwe border post in western Uganda to Beni in DRC.

Also Read: DRC tops informal trade scale with Rwanda

Official trade data cited by Uganda’s Foreign Affairs Minister Sam Kutesa during the forum launch showed that DR Congo is one of the key …