Bank of Africa (BOA) in the Democratic Republic of Congo (DRC) closed its 2024 fiscal year with a net profit of 71.5 billion Congolese francs (FC), or approximately $25 million at the average exchange rate, a 51% increase from 2023. This performance was driven by growth in customer loans, a 35% rise in net banking income to 188.3 billion FC, and better control of operating expenses. At the same time, the bank’s equity grew to more than 212 billion FC.

To build on this momentum, the pan-African banking group aims to close its gap in financing the DRC’s extractive sector. According to its Pillar III report, out of 919.5 billion FC in total customer loans, the extractive industries received only 63.5 billion, or 6.9%. The main beneficiaries were "unclassified activities" (370 billion, or 40.2%) and wholesale and retail trade (227.2 billion, or 24.7%). For comparison, in other Congolese banks, the extractive industries often absorb more than 50% of credit.

To reduce this disparity, BOA DRC has made it a strategic priority for 2025 to increase financing for mining companies and their subcontracting chains. The bank noted that it opened a new branch in 2024 in Lualaba province, at the heart of the nation's mining activity. According to data from the Mining Cadastre (CAMI), in the first half of 2025, 66% of all mining concessions granted in the DRC were in Lualaba and Haut-Katanga provinces.

By focusing on this strategic area, BOA intends to position itself in a key sector of the Congolese economy. This shift should allow it to diversify its credit portfolio and align its operations with the country's main growth engine, while consolidating the profitability it saw in 2024.

Timothée Manoke (Intern)