DRC’s Fonds de Promotion de l'Industrie (FPI) and South Africa's Industrial Development Corporation (IDC) signed a memorandum of understanding on Feb. 12, 2026, to support industrialization in the Democratic Republic of Congo, focusing on capital mobilization and project co-financing.
The agreement was signed in the presence of South Africa’s Minister of Trade, Industry and Competition, Parks Tau. Under the deal, the IDC will deploy investment capital to support FPI initiatives and facilitate co-investments across a portfolio of projects, particularly in infrastructure.
The two institutions also plan to work together on a long-term sustainable growth strategy in selected industrial sectors. The FPI has set a fundraising target of at least $100 million as a baseline to strengthen its role in industrial and economic development. The broader agreement aims to establish co-financing mechanisms between the two development finance institutions.
FPI Director General Hervé Claude Ntumba Batukonke said closer cooperation between national development finance institutions could improve risk-sharing and help finance large-scale structural projects.
IDC Chief Executive Mmakgoshi Lekhethe said the partnership could increase co-investments in strategic sectors, including green hydrogen, critical minerals, the electric vehicle value chain, advanced manufacturing, and high-value agriculture and agro-processing.
Founded in 1940, the IDC is a South African public development finance institution that supports industrialization by providing funding and technical support to companies and projects.
Ronsard Luabeya
