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Browsing: doing business in DRC
- 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 …
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.…
It is obvious that the DRC’s desire to become a member of the EAC is to tap into the benefits of regional trade, i.e. an expanded market of 300 million people, and to increase Foreign Direct Investment (FDI) through its membership in the EAC bloc. DRC’s capital market remains underdeveloped and consists mainly of the issuance of treasury bonds.
There is no stock exchange in the country and only a small number of private equity firms are actively investing in the mining industry. There are hardly any institutional investors in the DRC except for an insurance company and a state pension fund. The Central Bank of Congo (BCC), developed a market for short-term bonds, which are bought and held by local Congolese banks.
The absence of a domestic debt market has meant that the fixed-rate market is limited to government-issued treasury bonds with maturities of up to 28 days traded …