Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

Congo’s Central Bank Pressures Banks to Curb Dollar Use and Support the Franc

Congo’s Central Bank Pressures Banks to Curb Dollar Use and Support the Franc

The Central Bank of Congo (BCC) has criticized several commercial banks for practices that undermine the use of the national currency. In a statement issued on October 17, 2025, the BCC accused some institutions of “creating long queues at counters under the pretext of liquidity shortages and forcing customers to conduct transactions in foreign currencies, even when they legitimately wish to use the Congolese franc (FC).”

These practices contradict the goals of BCC Governor André Wameso, appointed in July 2025, who has made restoring trust in the franc congolais and reducing dollar dependence his top priorities.

In response, the BCC sent two letters to commercial banks instructing them to immediately replenish cash reserves at the central bank to maintain normal service levels. Banks are also required to keep their branches open until 5 p.m., including weekends for high-traffic locations. The central bank reminded them of their legal obligation to promote the use of the national currency and announced upcoming inspections to verify compliance with liquidity and foreign exchange regulations.

EquityBCDC, the country’s second-largest bank after Rawbank, has already announced it will comply with the BCC’s directives. The bank published a list of branches—Masina Sans Fil, Limete Place C, Matonge, Kintambo, Ngaba, Aviateurs, and its headquarters—that will operate daily from 8 a.m. to 5 p.m. throughout the implementation period of the central bank’s measures.

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
yannick-mbiya-a-15-year-insider-named-to-lead-trust-merchant-bank
Trust Merchant Bank (TMB), a subsidiary of Kenya’s KCB Group, has appointed Yannick Mbiya Ngandu as managing director, according to a statement released...
uba-appoints-michael-kayembe-as-ceo-of-dr-congo-subsidiary
UBA appointed Congolese banker Michael Kayembe as chief executive of its DR Congo subsidiary. The move followed UBA’s strategy to localize management...
alain-lubamba-says-drc-u-s-deal-represents-a-civilizational-opportunity
A strategic minerals partnership signed on December 4, 2025, moves into its operational phase. Alain Lubamba says the deal could help the DRC convert...
drc-felix-tshisekedi-says-economy-withstood-wartime-turmoil
Inflation dropped from 11.7% to 2.5% and the franc appreciated 29% against the dollar. International reserves reached $7.4 billion, equal to three...

African Economies

MOST READ

Please publish modules in offcanvas position.