A partnership with Monaco-based satellite operator Monacosat will enable the Democratic Republic of Congo to acquire a satellite for an estimated $400 million, the presidency announced after a meeting between President Félix Tshisekedi and Monacosat representative Jean-Philippe Anvam on August 30.
The investment, which amounts to nearly a quarter of the country’s 2025 budget, will be financed by a loan. Anvam stated that "a bank has already mobilized the necessary funds," though he did not name the institution.
The previous day, however, Fidelity Bank CEO Nneka Onyeali-Ikpe met with Minister of Digital Economy Augustin Kibassa and confirmed her bank’s readiness to finance the project. She announced that a joint Fidelity Bank-ministry team would be formed to define the project's parameters.
The initiative follows a memorandum of understanding signed between the Congolese government and Monacosat in November 2024. The project aims to deploy a satellite to reduce the DRC's digital divide and facilitate high-speed internet access across the country, particularly in rural and remote areas with limited telecommunications infrastructure.
The satellite is also intended to enhance cybersecurity, support distance learning, improve telemedicine, and stimulate the growth of the digital economy.
It remains to be seen whether a final agreement has been reached, as its signing is an essential prerequisite for the project to become operational.
Boaz Kabeya
