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The Democratic Republic of the Congo (DRC) joined the East African Community (EAC) in March 2022 in a development that has been largely feted as positive.
This decision was reached by the heads of state of the other member countries. The BBC in a report that covered the development said that although the country had officially become a member of the regional bloc, not much would change right away. This is because at that time in March 2022 Congolese lawmakers still had to ratify the decision.
The report added that Congolese citizens looking to travel to other member countries of the East African Community had to wait a little while longer. The BBC gave the example of South Sudan which took four months to become a fully-fledged member in 2016.
- DRC recently joined the EAC which is a move expected to help the country realize its mineral potential through regional
In 2020 Democratic Republic of the Congo was placed as the 87th economy in the world in terms of GDP (current US$), number 70 in total exports, number 105 in total imports, number 187 economy in terms of GDP per capita and the number 123 most complex economy according to the Economic Complexity Index (ECI).
According to figures from the Observatory of Economic Complexity (OEC), a global data visualization tool for international trade, as of 2020, the top exports of the Democratic Republic of the Congo are refined copper, cobalt oxides and hydroxides, cobalt, raw copper, and copper ore, exporting mostly to China, Tanzania, United Arab Emirates, South Africa, and Singapore.
The top imports of the Democratic Republic of the Congo are documents of title (bonds etc.) and unused stamps, packaged medicaments, sulphur, refined petroleum, and poultry meat, imported mostly from China, the United States, Zambia, South Africa, and India.…
As of 8th April, 2022, the Democratic Republic of Congo (DRC) officially joined the East African Community (EAC) opening a slew of opportunities for both sides.
The Treaty of Accession was inked in Nairobi, Kenya overseeing by the then EAC Chairperson former Kenyan President Uhuru Kenyatta alongside several other Heads of State of the EAC and of course the President of DRC, H.E. Félix-Antoine Tshisekedi Tshilombo.
- The East African Community has agreed to speed up Congo-Kinshasa’s ascension into the bloc
- DR Congo will open a new 90 million strong market to the EAC
- With input from the DR Congo, the East African Community will form a new mechanism to handle natural resource management
With the ascension, the DR Congo has up to the end of this month (29th September, 2022) to complete its internal constitutional processes to ratify the Treaty and submit to the EAC Secretary General. …
- The Central Bank of Kenya (CBK) has welcomed the admission of the Democratic Republic of Congo (DRC) into the East African Community (EAC)
- CBK noted that DRC’s admission to the EAC also means it joins the institutions of the community, including the EAC’s Monetary Affairs Committee (MAC)
- It also effectively expands the region’s market size and offers a path between the seas for trade and cultural integration and new investment and employment opportunities for a dynamic population of about 300 million
The Central Bank of Kenya (CBK) has welcomed the admission of the Democratic Republic of Congo (DRC) into the East African Community (EAC).
In a statement seen by The Exchange Africa, CBK said noted that DRC’s admission to the EAC also means it joins the institutions of the community, including the EAC’s Monetary Affairs Committee (MAC).
The occasion was marked by depositing the instrument of ratification with the Secretary-General …
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 …
- In 2020, the DRC imported goods of over US$333 million from Belgium, with products such as blood, vaccines, refined petroleum and packaged medicaments topping the imports
- Including the DRC in the EAC provides Belgium with almost all the imports they source from Africa from one region, the East African region
- The atrocities committed by King Leopold II are dragging the relationship between these two countries
The war between Russia and Ukraine is shifting the focus of European countries to Africa as an alternative market for gas and food products. Among the relationships that have registered an upward trend is a partnership between the Democratic Republic of Congo and Belgium.
The trade relationship between the two countries has been in existence for decades now, performing well economically. In 2020, the Democratic Republic of Congo (DRC) imported goods of over US$333 million from Belgium, with products such as blood, vaccines, refined petroleum…
“Concerning the management of the mineral resources sector, the Partner States agree, among other things, to promote joint exploration, efficient exploitation and sustainable utilization of shared mineral resources,” the treaty reads in part. The World Bank notes that DRC’s natural resources are diverse and immense in its country report. The country has the world’s second-largest primary humid tropical rainforest endowment and carbon sink globally.
“However, forest loss rates have accelerated in recent years, and in 2020, the DRC lost 1.31 million ha of natural forest, equivalent to 854 million tonnes of CO₂ of emissions. This has had deleterious environmental impacts (including rainfall patterns, biodiversity, and climate change) and is threatening the livelihoods of the 35 million people who depend on forest resources,” World Bank says in the report.
World Bank’s collaborations in energy sector investments have been intended to rehabilitate transmission networks and hydropower plants, raise Inga’s electricity production by …
- The United Arab Emirates (UAE) has announced interest in investing in the Democratic Republic of Congo (DRC)’s solar energy sector
- The MoU was signed between DRC’s state electricity company Société Nationale d’Électricité (SNEL) and AMEA Power
- World Bank data indicates that DRC has a population of 84 million people, but only 19 to 20 per cent of the population have access to electricity
The United Arabs Emirates (UAE) has announced interest in investing in the Democratic Republic of Congo (DRC)’s solar energy sector.
The countries, through two companies, entered into a Memorandum of Understanding (MoU) to pave way for the production of 30 megawatts in DRC.
The MoU was signed between DRC’s state electricity company Société Nationale d’Électricité (SNEL) and AMEA Power.
SNEL Director-General Jean-Bosco Kayombo Kayan said the deal would see millions of people get connected to the national power grid.
According to the DG, UAE plans on exploring …
The programme will facilitate access to the Royal Academy’s global network of experienced, high-profile and business experts, in addition to access to the alumni network upon completion of the programme.
Moreover, 2022 is the programme’s second consecutive year to render a digital experience, with rigorous support provided through person-to-person and group discussions.
Four finalists will pitch their revised and improved innovations and business plans to the judges in the presence of a live audience.…