News (294)
Diamond producers in the Democratic Republic of Congo (DRC) recently regained the freedom to sell their production without restrictions tied to a limited list of buyers. On June 2, 2025, Mines Minister Kizito Pakabomba officially rescinded the 2022 ministerial decree that had regulated sales of minerals under the supervision of the Centre d'expertise, d'évaluation et de certification des substances minérales précieuses et semi-précieuses (CEEC).
The minister declared that the 2022 decree was nullified as it conflicted with articles 85 and 108 of the Mining Code, which guarantee mining rights holders the freedom to market minerals extracted from their concessions. He emphasized that mining production regulation must strictly adhere to the Mining Code and its implementing regulations, rejecting any inappropriate supplementary rules.
The revoked decree had assigned CEEC the exclusive role of marketing precious and semi-precious minerals—including diamonds, gold, colored stones, and artisanal mining products—through appraisal, evaluation, and certification. The diamond sector, in particular, suffered under this regime due to the Kimberley Process’s strict certification requirements and the introduction of auctions.
Société Anhui Congo Investissement Minier (Sacim), a diamond producer jointly owned by the Congolese state and China’s Anhui Foreign Economic Construction Corporation Limited, welcomed the repeal. Sacim had actively lobbied for months against the decree, which it blamed for its ongoing financial difficulties.
Ronsard Luabeya (intern)
The Congolese government announced on June 2, 2025, plans to release $12 million under the second phase of funding for the revival of Société Textile de Kisangani (Sotexki), the country’s flagship textile company. Minister of Industry and SMEs Louis Watum Kabamba revealed this at a joint press briefing with Minister of Communication Patrick Muyaya.
According to Watum, the financial support will be split into two $6 million tranches, provided by the Industry Promotion Fund and the Public Treasury. This funding is part of a broader $50 million investment plan aimed at revitalizing the national industrial ecosystem.
Founded in 1974 and based in Kisangani, Sotexki mainly produces made-in-cotton fabric, including printed loincloths. The company is 40% state-owned and 60% held by Texico SA.
Once a vibrant enterprise, Sotexki has faced financial struggles due to outdated equipment, insufficient investment, and foreign competition. A recovery plan, initiated by former minister Julien Paluku and adopted in 2022, secured an initial $17.5 million to modernize the plant, improve raw material supply, and curb imports. The goal is to reach an annual production of 10.8 to 12 million meters of fabric.
At a December 27, 2024, Council of Ministers meeting, Minister Watum reported that 68% of the first tranche was allocated to investments and 32% to operating costs. A verification mission in October 2024 confirmed proper fund usage.
The minister estimates the revival will preserve 400 to 500 direct jobs and positively impact the cotton industry, which supports around 55,000 producers in northeastern provinces such as Bas-Uele and Ituri.
This article was initially published in French by Ronsard Luabeya (intern)
Edited in English by Ola Schad Akinocho
Profits of Finca RDC SA, a leading microfinance institution in the Democratic Republic of Congo, dropped 32% in 2024. According to the entity’s Pillar 3 report for the 2024 financial year, net income stood at 16 billion Congolese francs (CF), or $5.6 million, down from CF23.7 billion the previous year—a decline of CF7.7 billion. In 2023, Finca’s profits had surged by nearly 150%.
This setback came despite rising revenues. Net financial income increased by 11.7%, reaching CF116.3 billion from CF104.1 billion in 2023. However, this gain was offset by a sharp rise in costs: operating expenses jumped 28.7% to CF39 billion, and personnel expenses climbed 22.1% to CF38.1 billion. The report did not specify reasons for these increases.
Profitability was further pressured by higher provisions and bad debt losses, which rose 42.8% to CF12 billion. This mirrors a 42.6% increase in loans at risk, which hit CF27.8 billion—almost half of which are at least one month overdue. The uptick in risk coincided with a 14% expansion of the loan portfolio, which reached a record CF293.8 billion (over $100 million), the highest since Finca RDC’s founding in 2003.
This growth is partly attributed to the launch of a new application designed to streamline and speed up credit processing, introduced at the end of 2023. In 2024, Finca RDC granted over 70,000 loans, up from just over 51,000 the previous year.
Customer deposits also grew, rising 13% to FC 215.4 billion, in line with an increase in the customer base to just over 331,000.
Finca RDC is a local subsidiary of the global Finca Impact Finance (FIF) network, which operates in 40 countries and focuses on serving disadvantaged populations and small businesses. Its main shareholder is Finca Microfinance Holding Company LLC, based in the United States.
This article was initially published in French by Timothée Manoke (intern)
Edited in English by Ola Schad Akinocho
First Bank aims to have 100,000 banking agents in the Democratic Republic of Congo (DRC) by 2029. Disclosed in the lender’s 2024 Pillar 3 report, the goal is central to First Bank’s strategy to cement its role as a major player in the DRC.
According to the Banque Centrale du Congo, a banking agent is an individual or entity authorized to conduct commercial activities on behalf of a financial institution. They handle basic operations, like account opening, deposits, and withdrawals.
First Bank has around 2,800 agents in the DRC now, according to data available on the bank’s website. It thus needs to recruit over 70,000 more agents to achieve its 2029 target. The project is bold, given that all banks and microfinance institutions in the DRC together counted just 11,431 agents in 2022, according to the Ministry of Finance’s National Strategy for Financial Inclusion 2023-2028 (SNIF).
Employment Boost
Under the new strategy, First Bank also eyes annual revenue growth of 44% over the next three years, with a focus on expanding its customer base and deepening its presence in the mining sector, which accounted for nearly half of its loan portfolio in 2024.
The bank claims its strategy is grounded in a careful analysis of market realities. As Deloitte notes, agency banking—shifting from fixed branches to mobile agents—fits the Congolese landscape, where infrastructure is limited and rural communities often lack access to traditional banks. Supporting this, Finca RDC SA, a microfinance institution, reported that 70% of its 2024 transactions were conducted via agents.
First Bank’s move also offers a significant employment opportunity. Agents earn commissions on customer transactions, with monthly incomes averaging 800,000 Congolese francs (CF) and sometimes peaking at 1,500,000 CF—over $500 at current rates. Many agents represent several institutions at once, ranging from telecom companies to banks.
This article was initially published in French by Timothée Manoke (intern)
Edited in English by Ola Schad Akinocho
On June 3, 2025, the Democratic Republic of the Congo (DRC) was elected as a non-permanent member of the United Nations Security Council for the 2026-2027 term, securing 183 out of 193 votes at the General Assembly. Foreign Minister Thérèse Kayikwamba Wagner announced the news from UN headquarters in New York, calling it “a reflection of the international community’s confidence in our country and of African unity in the search for peace.”
This marks the DRC’s third term on the Council, following previous mandates in 1982-1983 and 1990-1991, and comes at a time of heightened regional tensions and renewed diplomatic ambition. Kayikwamba Wagner said her country will leverage the position to “carry Africa’s voice in talks regarding armed conflict, state sovereignty and international justice.” The election coincides with ongoing US-facilitated talks in Doha aimed at resolving the conflict in eastern DRC involving the M23 rebellion and Rwanda.
President Félix Tshisekedi called the election “a historic opportunity to make DRC’s security and development priorities heard.” The mandate also aligns with the DRC’s efforts to reposition itself economically, notably through advanced negotiations with the US on a strategic minerals supply chain agreement. The deal aims to secure US access to critical resources, such as cobalt, lithium, and coltan, while ensuring better remuneration and transparency for the DRC.
Sources close to the matter said the partnership would guarantee traceability and investment in local processing, reinforcing the DRC’s push for leadership in mining sovereignty and the energy transition.
The DRC’s Security Council agenda includes reforming peacekeeping, fighting impunity, and boosting African participation in global security governance. “We want to make the Security Council a more representative, fairer, and more attentive space for African emergencies,” said Congolese Foreign Minister Thérèse Kayikwamba Wagner.
With this election, the DRC joins the ranks of states able to directly influence global decisions on peace, sanctions, and intervention—an opportunity Kinshasa intends to use to strengthen both its regional standing and economic interests.
The new position enables the Central African nation to directly influence global decisions on peace, sanctions, and intervention—an opportunity Kinshasa intends to use to strengthen both its regional standing and economic interests.
This article was initially published in French by Ronsard Luabeya (intern)
Edited in English by Ola Schad Akinocho
International Resources Holding (IRH), a subsidiary of the Emirati conglomerate International Holding Company (IHC), just sealed a deal to acquire almost 100% of Tremont Master Holdings. Valued at C$503 million–around US$367 million–the deal will give IRH indirect control of 56% of Alphamin Resources. The latter owns the Bisie tin mine, the largest tin mine in the Democratic Republic of Congo (DRC).
According to Bloomberg, an IRH delegation visited the DRC last November to conduct a due diligence mission. Although the offer is lower than Alphamin's current capitalization on the Toronto Stock Exchange, Denham Capital, Tremont's sole shareholder, stands to gain. The American fund previously held 57% of Alphamin.
Located in North Kivu, the Bisie project has developed in a difficult security environment. Alphamin has held an 80.75% stake since 2012, when the tin market was still uncertain. The remainder of the capital is divided between the South African state-owned company IDC (14.25%) and the Congolese state (5%). Between 2019 and the end of 2024, the mine generated cumulative sales of $2.3 billion for a gross margin of $689.5 million. The company paid $115 million in dividends in 2022-2023, and expects a payment of $70 million in October 2025 in respect of fiscal 2024.
The transaction is still subject to prior authorization by the Congolese authorities. Under article 178 bis of the revised Mining Code, any indirect transfer of mining rights must be approved by the State, on pain of nullity. A transfer fee, previously set at 1% of the transaction value, is also payable.
For IRH, this acquisition is part of a broader strategy to build up a portfolio of critical mining assets. According to Africa Intelligence, the group is also in discussions with Gécamines to obtain new permits in the DRC, although this information has not yet been confirmed. Alphamin is also studying other expansion projects in the country.
This operation illustrates the Emirates' growing interest in transitional minerals. Saudi Arabia has stepped up diplomatic exchanges with Kinshasa around a framework for sustainable supply chains. Dubai remains one of the major outlets for Congolese artisanal gold, as the Governor of South Kivu recently reminded us. By 2023, collaboration between the Emirati group Primera Gold and the Congolese government had led to a surge of over 12,000% in gold channeled through the Primera Gold DRC joint venture.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
As of December 31, 2024, projects underway in the Democratic Republic of Congo (DRC) financed by entities within the Agence Française de Développement (AFD) group totaled €760.4 million, or around $823 million at the average exchange rate for 2024.
This portfolio accounted for roughly 24% of the Group’s total commitments in Central Africa, which stand at an estimated €3.2 billion.
The portfolio comprises 61 projects focused on improving access to basic services, strengthening regional resilience, promoting economic diversification, supporting the energy transition, and preserving natural resources. These initiatives are managed by three key institutions within the group: AFD itself, Proparco, and Expertise France.
AFD holds the largest share, with projects valued at €643.5 million (around $696.6 million), followed by Expertise France with $86.6 million, and Proparco with nearly $40 million in active projects.
Between 2020 and 2024, AFD primarily mobilized financing in the DRC through sovereign loans, French government grants, and budget support. Its investments target critical sectors for the country’s development, including infrastructure, transport, urban development, education, vocational training, governance, health, and sustainable natural resource management.
Proparco, the AFD Group’s private sector arm, supports private financial institutions and small and medium-sized enterprises via debt financing, guarantees, and equity instruments.
Expertise France, the Group’s technical cooperation agency, oversees eight projects spanning entrepreneurship, fragility and vulnerability, health, sport, and culture. In 2024, Expertise France expanded its footprint by establishing an operational country office in the DRC during the second quarter.
Boaz Kabeya (intern)
In Kinshasa, a sprawling metropolis home to an estimated 15 to 20 million people, traffic congestion has become a daily ordeal for commuters. Endless gridlocks, deteriorating public transportation, poorly maintained roads, and a lack of clear signage and traffic enforcement have driven many residents to embrace a more flexible mode of transport: the taxi-bike, locally known as the Wewa.
This trend, mirrored in several other cities across the Democratic Republic of Congo (DRC), intensified in 2025. A study conducted by Congolese firm Target SARL from March 1 to 7, 2025, across all 26 provinces found that 71% of users now rely primarily on motorcycle cabs, up from 67% in 2023. The service appeals to all age groups, though usage tends to decline slightly with age.
“Its success stems from its ability to avoid traffic jams, cover short distances quickly, and offer more affordable prices than conventional taxis,” the study explains. The main advantage remains the Wewa’s agility, weaving through congested streets to significantly cut travel times, especially during rush hours.
“I used to take two hours to get to my workplace by bus. Today, by taking a motorcycle cab, I’m there in less than 40 minutes,” says Séraphin Mbuyi, a loincloth seller at Kinshasa’s bustling Zando market. “I live on 18th Street, Limete. I used to leave very early to be among the first at work and avoid traffic jams. Now, I don’t have to. I’m certainly stressed, but I know I can find a motorcycle to get me there,” he adds.
An Unregulated Sector
Yet, the sector remains largely unregulated. In February 2024, the Congolese National Police (PNC) banned motorcyclists from Gombe, Kinshasa’s most upscale district. However, the ban is frequently ignored. At the Socimat crossroads, right in the heart of Gombe, motorcycle cabs openly ply their trade.
Most operators are young men from working-class neighborhoods who enter the business without formal training or licenses. They often ride without helmets, flout traffic laws, and lack insurance, increasing risks for passengers. The low cost of motorcycles and minimal barriers to entry have made this a livelihood for thousands of unemployed Congolese. Local authorities acknowledge the urgent need to regulate and structure the market, but face challenges in implementing a coherent strategy.
Amid growing demand for safer, more reliable motorcycle transport, digital mobility platform Yango—a subsidiary of Russian tech giant Yandex—launched a motorcycle ride-hailing service in Kinshasa in 2023, aiming to professionalize the sector and offer a more secure alternative.
Ronsard Luabeya (intern)
The National Assembly of the DR Congo is examining the rectifying finance bill for the fiscal year 2025. Adopted on May 23 by the Council of Ministers, the revised budget reduces expenditures to 50,691.8 billion Congolese francs (CF), approximately $17.2 billion, down 1.7% from the initial budget’s CF51,553.5 billion.
The budget was downscaled due to economic constraints linked to security issues in eastern DRC. It was partially offset by new financial support expected from the International Monetary Fund (IMF) and the World Bank (WB). On May 22, the WB’s Executive Board approved $600 million in budgetary support, with $165.4 million scheduled for disbursement this year. Concurrently, the country is nearing a positive conclusion of the first review of its new IMF program, which should unlock an additional $266.7 million.
The escalating conflict in the east, where several towns have fallen under the control of the M23 armed group, has directly impacted public revenue mobilization. At a press briefing in Kinshasa on April 9, 2025, Finance Minister Doudou Fwamba estimated that the loss of territorial control would deprive the state of roughly 4.5% of its budgetary resources—an estimated shortfall of nearly CF2,320 billion, or about $1 billion. This gap cannot be fully bridged by external budgetary aid, forcing the government to revise spending forecasts downward.
In response, and to manage rising security expenditures while maintaining the domestic budget balance target set by the IMF program, the executive has adopted adjustment measures. These include reducing institutional operating costs and refocusing public spending. Nevertheless, the government asserts it is paying “particular attention” to key priorities such as free primary education, universal health coverage with free maternity care, continuation of the local development program (PDL-145 territories), economic diversification, and preserving the population’s purchasing power.
The rectifying budget is based on slightly revised macroeconomic assumptions. Growth forecasts have been trimmed to 5.3% from the initial 5.4%, with the overall budget deficit expected to remain around 1.8% of GDP. Average inflation is projected at 8.8%, and the average exchange rate at 2,859 CF per US dollar. Fiscal pressure is forecast to decline to 12.5% from 15.1%, primarily due to a drop in current revenues affected by the economic slowdown in the east and disruption of trade corridors.
Boaz Kabeya (intern)
In a significant development for the artisanal gold sector in the Democratic Republic of Congo, DRC Gold Trading SA, a state-owned enterprise specializing in the purchase, marketing, and export of artisanal gold, announced on March 25, 2025, that it had successfully channeled over 280 kilograms of artisanal gold into Maniema province through its Kindu branch. This volume was achieved just two months after the branch's inauguration.
The company reported injecting more than US$27 million into the provincial economy, a feat largely attributed to its strategic partnership with Rawbank. This collaboration aligns with DRC Gold Trading SA's broader objective of integrating artisanal gold production into the formal economic circuit.
Cyprien Birhingingwa, Deputy Managing Director of DRC Gold Trading SA, added that the firm’s Kindu branch collected nearly 50kg of artisanal gold in its first week of operation–a notable achievement given that Maniema was excluded from the Cellule technique de coordination et de planification minière (CTCPM) annual gold production statistics for 2024. The province's governor, Moïse Mussa Kabuankubi, labeled the performance "a great feat."
According to recent estimates, the Kindu facility could partially offset production losses experienced in South Kivu. The facility only opened last March, the same month DRC Gold Trading SA stopped buying artisanal gold in South Kivu on March 11, 2025, following the advance of M23 rebels into the province.
Timothée Manoke (intern)
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Rawbank, the leading bank in the Democratic Republic of the Congo (DRC), recorded a 42% growth in healthy loans, net of provisions, granted to small and medium-sized enterprises (SMEs) and households in 2024. The surge was reported in the bank’s regulatory financial communication.
Outstanding loans to the two segments rose from 1,094 billion Congolese francs (CF) in 2023 to CF1,550 billion in 2024—up by CF456 billion, or roughly $166 million at the year’s average exchange rate. The bank thus confirms its commitment to these two customer segments, often seen as more exposed to economic risks.
In detail, net performing loans granted to SMEs stood at CFA555.4 billion in 2024, up 67% year-on-year. The bank extended around CFA1,000 billion to households, up 30%. In its report, Rawbank did not explain these dynamics but underscored, more generally, the adoption of a strengthened risk management approach.
Provisions for risks associated with these two segments fell by 27% for SMEs and 40% for households. In addition, outstanding problem loans fell by 91%, suggesting improved collection performance. Although household overdue loans are up 40%, they only represent around 2% of healthy loans, limiting the overall impact.
Rawbank’s overall credit portfolio improved in 2024. Total healthy loans net of provisions—still largely dominated by loans to the extractive sector—reached CF5,606 billion, up 51%. At the same time, provisions for bad debts fell by 38%, and overdue loans by 35%.
Against this backdrop, interest income on loans continued to underpin net banking income, contributing CF554 billion, up 28%. To this must be added CF148 billion in credit commissions. Rawbank also derives significant revenues from its other banking services, which generated CF581 billion in 2024.
This performance underscores Rawbank’s dual strategy: expanding support for SMEs and households while maintaining rigorous risk controls and a diversified revenue base.
Georges Auréole Bamba
The Kakobola hydropower dam, a key project in the Democratic Republic of the Congo (DRC), has entered its final phase, during which transmission lines and supply networks are being set up. Teddy Lwamba, the Ministry of Electricity, presented this phase during the May 23 Council of Ministers. On the occasion, he also signaled the facility’s imminent commissioning.
According to official meeting minutes, "the Minister of Finance was instructed to take charge of the costs enabling the completion of the work," though specific financial details and completion deadlines remain undisclosed. The firm in charge of the works is also unknown at present. However, after a four-year hiatus, work resumed in August 2020, with reports indicating that the Indian firm WAPCOS Ltd was tasked with constructing the transmission lines.
According to Minister Lwamba, the first phase is already complete, with the construction of the 10.5-megawatt power plant. Situated in the Gungu territory of Kwilu province, the project commenced in 2010 under the stewardship of the Indian company Angelique International Ltd. The total project cost was estimated at US$55 million, jointly financed by India Exim Bank and the Congolese government.
The minutes from the Council of Ministers meeting held on June 10, 2022, state: "The Minister of Finance has been instructed to release the necessary funds corresponding to the Democratic Republic of Congo's counterpart to this project, and to examine with all of his departments the possibilities of granting all the facilities required to the Indian contractor, so that the supply of electricity to the towns of Kikwit, Gungu and Idiofa by the Kakobola power station will be effective before the end of April 2023."
Upon completion of the transmission and distribution lines, the power station is expected to supply electricity to the towns of Kikwit, Idiofa, and Gungu, as well as to the Catholic missions of Totshi and Aten, and the village of Butshamba, all located within Kwilu province.
Minister Lwamba also announced a forthcoming reform aimed at bolstering the commercial and technical operations of the Grande Centrale de Kakobola. An external entity will be engaged to assist in marketing the electricity produced. The minutes further reveal that an interministerial decree will be enacted to establish a provisional tariff to facilitate this commercialization.
This article was initially published in French by Ronsard Luabeya (intern)
Edited in English by Ola Schad Akinocho
The Congolese Ministry of Tourism and EquityBCDC have signed a Memorandum of Understanding (MoU) to boost tourism in the Democratic Republic of Congo (DRC). The MoU should help structure operators, make them bankable, improve project financing, and digitize tourism services. It also includes training and financial education initiatives, with a particular focus on young people and women.
Commenting on the milestone, Tourism Minister Didier M'Pambia stated: “This collaboration will enable the private sector to boost a sector that has enormous potential, but suffers from underfunding. As public funding alone cannot contribute to the growth of this sector, we have called on a financial institution that already has expertise.”
The partnership comes at a time when the Congolese tourism sector exhibits both development potential and signs of fragility. The low level of financing and limited performance of credits granted to operators highlight structural challenges within the industry.
According to EquityBCDC’s 2023 annual report, the "tourism, hotels and restaurants" sector accounts for just 0.2% of the bank’s overall outstanding loans. This low share reflects limited bank investment in the tourism sector, which records a non-performing loan rate of 34.4%. This is one of the highest in EquityBCDC’s portfolio and up from 31.4% at the end of 2022. This indicates that more than a third of loans granted to tourism players are experiencing repayment difficulties.
Last January, under its financial inclusion strategy, EquityBCDC also launched the “Contribution to Economic Growth (CCE) – for them” project. This initiative provides technical and financial support to businesswomen in Bukavu and Kinshasa.
Boaz Kabeya (intern)
The Radisson Hotel Group will inaugurate two new hotels in the Democratic Republic of Congo (DRC) in 2026 and 2027. The news was disclosed in a press release dated May 15, 2025
The first hotel, a five-star-equivalent Radisson Blu, located in Kinshasa, will be inaugurated by late 2026. The second, a four-star Radisson Hotel, located in Lubumbashi, will be inaugurated by mid-2027.
The Kinshasa building will be located on Boulevard Colonel Tshatshi in the Gombe district—Kinshasa’s main residential and business hub. It will offer 110 rooms, including suites and a presidential suite. Amenities will include a lobby bar, an all-day restaurant, a pool bar, a wellness center with a gym and massage rooms, an outdoor pool with a terrace, and modern meeting and event spaces.
In Lubumbashi, the DRC’s second-largest city and mining industry center, Radisson plans to open a four-star hotel near Lake Kipopo. This hotel will feature 97 rooms, including junior suites and a presidential suite, along with a lobby bar, an all-day restaurant, a rooftop bar & grill, meeting rooms, a modern gym, and a swimming pool.
Radisson’s entry into the Congolese market is part of its broader expansion strategy in West and Central Africa, aiming to increase its hotel portfolio in these regions by 50% by 2030. Ramsay Rankoussi, Vice President of Development for Africa and Turkey, stated that this expansion is designed to consolidate the Group’s presence on the African continent. Besides the DRC, markets such as Tanzania and Guinea-Conakry are also targeted.
Owned since 2018 by the Chinese conglomerate Jin Jiang International Holdings, a state-owned company based in Shanghai, Radisson is capitalizing on local economic opportunities amid significant Chinese investment in the mining and infrastructure sectors.
Radisson operates as a hotel manager, responsible solely for managing properties once they open. Its deployment is conducted in partnership with project promoters, though the Group has not disclosed its partners in the DRC. According to Access HDC, a hotel investment consultancy, the Radisson Blu Hotel Kinshasa is being developed in collaboration with X-Ray Group, an Istanbul-based design firm specializing in architecture, interior design, and hotel project management, which is the main investor.
Ronsard Luabeya (intern)