Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

Germany Suspends New Financing for Rwanda Amid Escalating Conflict in DR Congo

Germany Suspends New Financing for Rwanda Amid Escalating Conflict in DR Congo

On March 4, 2025, the German government announced sanctions against Rwanda over its alleged support for the M23 rebels who recently invaded eastern Democratic Republic of Congo (DRC). Germany decided after the rebels overtook several cities, including Goma and Bukavu.

"We will suspend new financial commitments, review existing development cooperation with the Rwandan government, and suspend high-level participation in development policy events of the Rwandan government," Germany’s Ministry for Economic Cooperation and Development (BMZ) stated.

Germany had initially earmarked €93.6 million ($98 million) in funding for Rwanda for the 2022-2024 period, but these funds will no longer be disbursed.

Rwanda called the move "wrong and counterproductive," arguing that such unilateral sanctions undermine regional stability.

The sanctions come amid growing calls from Western nations for Rwanda to stop supporting the M3 rebels. However, Rwandan leader Paul Kagame keeps claiming that his troops are merely there to secure borders.

This article was initially published in French by Boaz Kabeya (intern)

Edited in English by Ola Schad Akinocho

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
dr-congo-government-follows-senator-kanyimbu-s-suggestion-to-curb-cobalt-exports
Cobalt exports from the Democratic Republic of Congo (DRC) have been suspended for four months. The ARECOMS, the country’s watchdog for strategic minerals...
malick-fall-ifc-we-are-working-to-help-reduce-the-housing-deficit-in-the-drc
Malick Fall has represented the International Finance Corporation (IFC) in Burundi, the Democratic Republic of Congo (DRC), and the Republic of Congo...
banking-women-s-tabloid-recognizes-firstbank-s-cyrille-mukendi-best-female-hr-director-in-drc
Cyrille Mukendi Ilunga, Human Resources Director at FirstBank DRC, was honored as the best female Human Resources Director in the banking sector in the...
in-dr-congo-charles-maleshila-wants-to-compete-against-canal-with-plustube
Charles Maleshila is one of the figures shaping the streaming industry in the Democratic Republic of Congo (DRC). Maleshila is the founder of Plustube, a...

African Economies

MOST READ

Please publish modules in offcanvas position.