Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

DRC: Strategic Reserve Cuts Corn Flour Prices in Kinshasa Markets

DRC: Strategic Reserve Cuts Corn Flour Prices in Kinshasa Markets

Highlights

• Congo’s General Strategic Reserve (RSG) sells corn flour at 35,000 CF per 25kg bag, below market price
• Operation covers four Kinshasa markets, with rollout planned for Kongo Central
• RSG says stock is “large” and could influence market prices

The General Strategic Reserve (RSG), a department of the Congolese presidency, has begun selling corn flour in Kinshasa at 35,000 Congolese francs ($13.20) per 25 kg bag, undercutting current market prices of 40,000 to 63,000 francs.

The operation is taking place at the Gambela, Matete, Bayaka, and Kapela markets, the RSG said in a statement. It will soon extend to Kongo Central province at the same price.

The RSG, which also supports local producers, rolls out such interventions on a seasonal basis to counter price spikes or disruptions caused by crises and natural disasters.

Created by presidential decree, the RSG manages stocks of essential goods to prevent shortages, stabilize prices, and support food security. It said its flour reserves are “large, even unlimited”, and could influence market dynamics in the capital.

Timothée Manoke, intern

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
mohamed-cherif-takes-over-afdb-drc-office-with-mandate-to-speed-up-projects
Mohamed Chérif is the new African Development Bank (AfDB) country manager for the Democratic Republic of Congo. Although the Bank has not yet formally...
gecamines-looks-to-replicate-morocco-s-ocp-model-to-enter-battery-chemical-sector
Guy-Robert Lukama, who has chaired the board of Gécamines since February 2023, is advancing an ambitious strategy for the state-owned mining company. He...
eu-s-von-der-leyen-highlights-clean-energy-push-green-corridor-plan-in-the-drc
European Commission President Ursula von der Leyen has outlined the European Union's priorities in the Democratic Republic of Congo, with clean energy...
justice-minister-guillaume-ngefa-targets-military-foreigners-in-illegal-mining-sweep
Democratic Republic of Congo (DRC) Justice Minister Guillaume Ngefa has ordered prosecutors to take legal action against those involved in illegal mining...

African Economies

MOST READ

Please publish modules in offcanvas position.