Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

DRC-China: Xi and Tshisekedi Meet in Beijing Ahead of FOCAC Summit

DRC-China: Xi and Tshisekedi Meet in Beijing Ahead of FOCAC Summit

In preparation for the Forum on China-Africa Cooperation (Focac), Chinese President Xi Jinping and Democratic Republic of Congo (DRC) President Felix Tshisekedi met in Beijing today, Sept. 2. The meeting aimed to strengthen bilateral relations between the two countries.

During their discussions, both leaders emphasized the importance of enhancing their partnership, especially in the renewable energy sector, which is key to the DRC's economic development. Tshisekedi highlighted his country’s vast potential in renewable energy, citing its abundant resources like hydroelectricity and solar energy. He expressed a desire to collaborate closely with China to develop sustainable energy infrastructure.

For now, the DRC has one of the lowest electrification rates in Africa, 21%, according to the "Energy Progress Report 2023", published by the World Bank and the International Energy Agency. Meanwhile, the demand for electricity in the country is on the rise, spurred by population growth and urbanization.

For the DRC, China is a key partner in developing its hydroelectric power. The DRC is the largest producer of hydroelectric power in the world, generating over 1,303 terawatt-hours in 2022, which is more than 31% of the global total. Local companies have also developed advanced technologies in this area, which the DRC hopes to utilize.

Other subjects covered by the two leaders include fostering projects aimed at locally transforming natural resources while reducing the carbon footprint.

OS

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
arise-iip-seeks-fpi-equity-participation-in-three-drc-special-economic-zones
The Democratic Republic of Congo’s Industrial Promotion Fund (FPI) said ARISE Integrated Industrial Platforms (ARISE IIP) has asked it to take equity...
first-phase-of-arise-backed-kin-malebo-industrial-zone-80-complete
The first phase of development at the Kin-Malebo Special Economic Zone (SEZ) is nearing completion, with 80% of construction work finished, the Industrial...
160m-approved-to-improve-connectivity-around-ngandajika-agro-industrial-park
The African Development Bank (AfDB) on Dec. 8 approved $160 million in financing to improve transport and logistics links around the Ngandajika...
cnss-guarantee-failure-keeps-congo-airways-grounded-bemba
The Congolese national airline Congo Airways remains grounded after the National Social Security Fund (CNSS) failed to provide a required bank guarantee,...

African Economies

MOST READ

Please publish modules in offcanvas position.