The government of the Democratic Republic of Congo (DRC) is pushing to ensure that the recent appreciation of the Congolese Franc (FC) translates into concrete benefits for households. Following an economic briefing on Oct. 22, 2025, led by President Félix Antoine Tshisekedi Tshilombo, Minister of National Economy Daniel Mukoko Samba announced an imminent drop in fuel prices.

The meeting at the Presidency was convened to examine the FC’s recent appreciation against other currencies and ensure that households experience an actual increase in purchasing power. Minister Mukoko stated that concrete measures would be taken to ensure price reductions reflect this monetary shift.

The announcement comes two weeks after a fuel price cut was implemented in the country’s western zone, which includes provinces like Kinshasa and Kongo-Central. Gasoline prices fell from 2,990 FC to 2,690 FC per liter, and diesel dropped from 2,980 FC to 2,680 FC. However, for Congolese whose income or savings are denominated in U.S. dollars, the prices effectively increased in dollar terms: 2,990 FC was equivalent to approximately $1.03, while 2,690 FC now represents at least $1.44.

The National Movement of Injured Consumers (MNCL) noted this trend, illustrating the shift in an Oct. 14 statement: the price of a beer remained at 4,000 FC, effectively rising from $1.37 to $2.10, while a carton of chicken dropped from 108,000 FC to 80,000 FC, which is an increase from $38.57 to $40.

The MNCL also highlighted that the situation is compounded by exchange rate speculation practiced by some currency traders and Mobile Money agents. The movement noted that while the Central Bank of Congo communicates an official rate of 2,300 FC per dollar, many traders are changing one dollar for 1,900 FC, 1,800 FC, or even 1,700 FC. This distortion further erodes the purchasing power of those receiving dollar-denominated income.

In response, the government intends to fight exchange rate speculation and compel merchants to lower prices to offset the dollar-denominated purchasing power loss caused by the FC's appreciation. For fuel, the Minister announced a meeting with oil companies on Oct. 31, 2025. The day before the presidential meeting, he had launched economic control missions aimed at stabilizing the domestic market, verifying regulatory compliance, ensuring price transparency, and assessing the actual impact of the franc's appreciation on basic necessities.

However, this push is generating concern among several economic operators who fear being forced to sell at a loss, citing the inventory effect. This mainly affects importers and producers who rely on dollar-denominated inputs and imported machinery.

Supermarkets, importers, and distributors do not replenish their stock daily. They often import large quantities financed in dollars. If they procured goods at an exchange rate of 2,800 FC per dollar, their costs and sales prices were set accordingly. If the rate then drops to 2,600 FC per dollar a few weeks later, their existing inventory remains valued at the old rate. Consequently, they cannot immediately pass on the appreciation of the Congolese Franc without reducing profit margins or selling at a loss.

Oil marketers are an exception to this dynamic, as the government compensates them for foreign exchange losses.

Timothée Manoke