Browsing: Democratic Republic of Congo (DRC)

The challenge facing the EAC is not the lack of natural resources but the lack of high-tech industries. China is a perfect example of a country that transformed from an agricultural civilisation to an industrial one. More than 850 million individuals have been lifted out of poverty due to recent economic growth brought about by China’s industrialisation.

Without involvement in the fourth industrial revolution, the East African Community would never be able to escape its state of backwardness. Therefore, the DRC will catalyse industrial transformation inside the East African Community, Africa and the world.

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.

The overall gross domestic product of the EAC in 2019 was 193 billion dollars. The inclusion of the DRC might either stand as an opportunity or a burden. Who knows? Only time will tell.

The President of the FEC-Goma, for his own part, according to Bercky Chirimwami, “We are eager to enhance the capacity of businesspeople in the DRC to successfully do business in the EAC Common Market.” He advised businessmen in the Democratic Republic of the Congo to search for opportunities in international commerce and investments.

During the Business Meeting, participants from the Democratic Republic of the Congo’s business community gained insight into the possibilities presented by the EAC Common Market. In order to facilitate more B2B networking, the EABC entered into a partnership with the FEC-Goma to implement awareness campaigns on EAC procedures, the African Due Diligence Platform (Mansa), and the East African Trade and Investment Mission to the DRC.

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.