News (933)
Fonds de promotion de l'industrie (FPI), a state-owned fund that finances industrial projects in the Democratic Republic of Congo, launched its integrated management system (ERP) on April 8 in Kinshasa as part of efforts to modernize and streamline its operations.
The digital platform is designed to automate processes and centralize operations, with the institution saying it will help improve performance, enhance transparency and optimize costs.
Director General Hervé Claude Ntumba Batukonke said the system replaces previously fragmented processes, marking a shift toward more structured and efficient operations. He added that it would help the FPI better organize its data flows and strengthen monitoring of its activities.
Developed with support from Tunisian firm Système Informatique de Gestion Automatisée (SIGA), the platform covers several core functions, including managing financing applications, tracking disbursements and projects, handling debt collection, overseeing the industrial development tax, as well as accounting, treasury, financial reporting, internal controls and risk management.
According to Stéphane Tshitende, director of information systems and project manager, the system also improves connectivity with partners, giving project developers and eligible companies real-time access to their financial information.
The launch follows several months of development. In October 2025, the FPI said the project was progressing with SIGA, which had been selected through an international tender, and identified digital transformation as a key priority.
The initiative aligns with the institution’s 2026–2028 action plan, which sets out a roadmap focused on improving institutional performance and modernizing management tools.
With the new system, the FPI aims to strengthen operational monitoring and improve visibility over the delivery of its mandate.
Ronsard Luabeya
The governments of the Democratic Republic of Congo and South Korea, alongside UNICEF, launched a $5 million multi-sector project on April 8, 2026, in Kinshasa.
According to a joint statement, the funding will support access to essential services, including health, education and water, in a province where living conditions have steadily worsened.
Within the next seven days, the project will provide cash transfers to 4,500 households, or about 22,500 people. This mechanism, increasingly used in humanitarian responses, provides a short-term economic boost. By putting cash directly into communities, it supports basic consumption, stimulates local markets and sustains informal trade. The statement did not specify the amount allocated to this component.
Beyond immediate relief, the program focuses on key sectors to support economic recovery. In education, it will give 4,500 children and adolescents access to alternative learning and vocational training. This highlights a major concern in a province where more than 1.3 million children are out of school, undermining long-term human capital development.
In parallel, 5,760 children affected by violence are expected to receive comprehensive care, including psychosocial support. This component, often overlooked, is seen as essential to help communities re-engage in economic activity.
The project also includes the construction of 40 water points, providing safe drinking water to 38,000 people. Beyond the health impact, this will help restore basic conditions for economic activity by reducing time spent collecting water, improving household productivity and making communities safer.
Ituri province continues to face a complex crisis. As of August 2025, it was home to around one million internally displaced people and 700,000 returnees living in difficult conditions, according to the statement. The same source said violence has risen sharply, with a 46% increase in serious violations of children's rights in the first half of 2025, deepening instability and hindering economic recovery.
Boaz Kabeya
DR Congo’s national rural and peri-urban electrification agency, ANSER, said on Tuesday it had signed a commercial agreement with British firm Propav Infrastructure Limited to develop two solar power plants in Lualaba province.
The projects include a 55.4 MWp solar plant in Kyamasumba and a 65.2 MWp facility in Kapanga, referring to peak output under standard conditions.
The agreement marks the start of the project development phase, including financial structuring and technical studies ahead of construction. The planned financing relies on a British export credit mechanism, with expected support from UK financial institutions.
The project also includes local content provisions, knowledge transfer and training for ANSER staff and local stakeholders.
Propav Infrastructure Limited, registered in the United Kingdom in November 2021, operates in engineering, construction and infrastructure project development, according to public records.
The partnership is part of ANSER’s strategy to expand off-grid and peri-urban electrification as the Democratic Republic of Congo seeks to increase electricity access in underserved areas. Construction will depend on completing technical studies, securing financing and finalizing operational agreements.
Boaz Kabeya
The Democratic Republic of Congo raised $1.25 billion in its debut eurobond, exceeding a revised target of $750 million set in late January, according to a statement published on April 9, 2026 by Rawbank, a co-coordinator and co-bookrunner of the deal.
The issuance was split into two tranches, a five-year note due in 2032 and a ten-year note due in 2037, with yields of 8.75% and 9.50%, respectively. The outcome came in below expectations from several analysts who had forecast double-digit borrowing costs.
The terms secured by the DRC, a first-time issuer with a speculative-grade rating, were lower than those paid by some regional peers with established market track records. Angola, rated B3 by Moody’s and B- by S&P Global Ratings, the same level as the DRC, paid 9.5% when it returned to markets in July 2025, its lowest yield in six years, according to Agence Ecofin data. The Republic of Congo issued a eurobond maturing in 2032 at 9.875% in November 2025, while Kenya paid 10.375% on a seven-year bond in February 2024.
Rawbank attributed the outcome to strong investor demand, with orders exceeding $5 billion across both maturities. The bank said the results reflected effective structuring that aligned investor expectations with the country’s fundamentals. As co-coordinator and co-bookrunner, Rawbank helped structure and place the bonds alongside international banks including Citigroup and Standard Chartered.
“For Rawbank, the objective is clear: to build and strengthen the DRC’s credit profile in international markets at levels consistent with investor expectations. We are proud to have supported this transaction, which could facilitate further international financing, including for non-sovereign issuers,” said Chief Executive Mustafa Rawji.
The DRC’s low debt burden likely supported investor appetite. Public debt stands at around 18% of GDP, well below the sub-Saharan African median of roughly 60% at end-2025, according to the IMF. Inflation remains low at about 2.3%, while growth is projected above 5%, driven by mining activity, which the World Bank says should also strengthen external balances.
The geopolitical environment also provided support. In December 2025, the DRC signed a bilateral agreement with the United States on strategic minerals, granting U.S. companies priority access to future mining concessions in exchange for diplomatic and security backing against AFC/M23 rebels backed by Rwanda. S&P Global this year revised the country’s outlook to positive, citing the rapprochement.
Market conditions also improved. A two-week ceasefire between the United States and Iran, announced on April 8, reopened a window for emerging-market issuance after tensions in the Middle East had temporarily curtailed activity.
The Finance Ministry described the operation as “historic,” with a spokesperson for Minister Doudou Fwamba calling it a “total success.” The deal was completed earlier than expected. Authorities had initially targeted completion before the end of the first half of 2026, but in a January report, the IMF had deemed issuance before mid-year “unlikely,” citing technical requirements, investor engagement and the need for parliamentary approval.
Pierre Mukoko
Fonds de promotion de l'industrie (FPI), a public institution that finances industrial projects in the Democratic Republic of Congo, has awarded KPMG RDC a consulting contract to restructure its loan portfolio. The decision, signed on April 2, 2026, by Director General Hervé Claude Ntumba Batukonke, awards the contract for $138,729 before tax, or $160,925.64 including tax.
The award notice does not detail the exact scope of the mission assigned to KPMG. It states that the contract follows a procurement process launched in 2024, involving several no-objection clearances from Direction générale du contrôle des marchés publics covering the procurement plan, shortlist, request for proposals, and technical and financial evaluations. KPMG's offer, dated March 6, 2024, indicates that the process lasted at least two years.
Debt recovery a priority
The award comes as FPI has brought debt recovery back to the forefront. When he took office in August 2025, the director general identified loan repayment as a key priority of his tenure, arguing that the institution's ability to finance new industrial projects depends in part on recovering funds already lent.
In a statement issued at the time, FPI said all receivables would be identified and recovered, and pledged to establish a mechanism to ensure full repayment of both existing and future loans. It added that non-repayment was undermining its core mission of supporting industrialization.
This is not a new issue. In March 2020, then-Industry Minister Julien Paluku said about $150 million was already outstanding and gave borrowers 48 hours before forced recovery measures would be triggered.
The contract award to KPMG therefore reflects FPI’s ongoing effort to better structure the management of its loan portfolio, as debt recovery becomes a central lever to restore financial flexibility and support new industrial projects.
Timothée Manoke
The expiration of the Fina Log concession on Dec. 31, 2025, has reshaped the oil logistics chain between Matadi and Kinshasa by bringing in a new state entity. This corridor is the main transit route for fuel consumed in the western region of the Democratic Republic of Congo (DRC) and accounts for about 80% of fuel bound for the Central African Republic.
The National Petroleum Infrastructure Management Company (ENGIP) was established in January 2026 to manage the corridor’s operations. The public company took over Fina Log’s assets, including pipelines, pumping stations and depots, which returned to the Congolese state at no cost.
On April 7, 2026, the new state enterprise signed operating agreements covering these assets with SEP Congo, the long-standing operator of the Matadi-Kinshasa logistics chain.
“These agreements do not affect the price structure in any way. On the contrary, they could help reduce logistics costs and strengthen price stability,” ENGIP Director General Richard Beya Ilunga said, according to remarks reported by Actualite.cd.
The official fuel pricing structure for the western zone, set in December 2025, highlights the impact of logistics on final consumer prices. For gasoline, distribution costs amount to 724.03 Congolese francs (FC) per liter, compared with a pump price of 2,440 FC, nearly 30% of the final price.
For kerosene, these costs reach 516.06 FC per liter, or about 24% of a pump price of 2,130 FC. Diesel logistics costs stand at 688.78 FC per liter for a pump price of 2,430 FC, representing 28.3% of the final price. SEP Congo alone accounts for 192.79 FC per liter, about 8% to 9% of the final price and more than a quarter of total logistics costs.
Unanswered questions
According to the pricing structure, logistics is the second-largest cost component after international procurement. Lower logistics costs could therefore support price stability, a critical factor as conflict in the Middle East fuels uncertainty over global oil prices.
However, it remains difficult to assess the expected cost reductions, as the details of the contracts between ENGIP and SEP Congo have not been made public.
“These agreements will allow us to operate in a stable environment, with the objective of delivering positive outcomes for our company, government ministries and, above all, citizens,” SEP Congo Director General Malick Ndiaye said. Ndiaye, cited by Actualite.cd, added that negotiations lasted several months but provided no further details.
One point is clear: the state, through ENGIP, now owns 100% of the assets along the Matadi-Kinshasa corridor, compared with 40% before the end of the Fina Log concession. This gives the government greater room to influence logistics costs.
The state must nevertheless balance this with the need to ensure service continuity, which requires maintaining and expanding infrastructure. This also involves mobilising resources, particularly for new investments. For now, ENGIP has not outlined how it plans to address these competing challenges.
Pierre Mukoko & Ronsard Luabeya
Kinshasa's provincial government launched a registration drive on April 7, 2026, to allocate stalls in the new central market. The initiative also enables city authorities to issue business licenses and distribute business registration forms for the 2026 fiscal year.
The move is aimed at expanding the capital’s tax base. To secure a stall in the market, which the governorate says will have around 11,000 spaces, vendors must show proof they have paid either property tax or rental income tax in order to obtain a tax clearance certificate. They must also pay the patente, an annual tax applied to small traders.
The requirement follows the suspension of patente payments in 2024 and 2025, after disputes between vendors’ representatives and the provincial government. Guylain Lokofe, president of the Syndicat des vendeurs du Congo, said the city had initially planned to collect the tax for both years at once, which traders rejected, arguing that the patente is annual and cannot be accumulated. Both sides have since reached an agreement allowing payments to resume.
On the digital platform "irms-dgrk.com," launched in March 2026 by Kinshasa’s General Directorate of Revenue (DGRK), the patente is set on a tiered system based on activity category: 56,000 Congolese francs (FC) for Category A, 42,000 FC for Category B, 28,000 FC for Category C, and 14,000 FC for Category D.
Timothée Manoke
Coopérative U has entered the Democratic Republic of Congo through a partnership with the Biso na Biso group, operator of the Kin Marché brand. Announced on April 2, 2026, the deal includes supply and trademark licensing and represents a new phase in the French retailer’s international expansion.
The partnership is built around a dual-brand strategy. The Coopérative U logo will appear alongside Kin Marché, in what the group describes as a “hybrid” model. In Kinshasa, three stores will operate under the U Express format from 2026, with a gradual rollout of operational standards and private-label products.
Chief Executive Dominique Schelcher said the group’s international strategy relies on alliances with local partners that bring market expertise. This approach allows Coopérative U to build on an existing network while deploying its commercial know-how and brand.
According to the company, Biso na Biso operates 79 stores and plans to reach 116 by 2027. Store sizes range from 500 to 1,000 square metres. The Kin Marché brand is mainly present in Kinshasa, focusing on mid-sized outlets.
Coopérative U, which has more than 130 years of history, operates between 1,800 and 1,900 stores. Its expansion into the DRC is part of a broader strategy to grow outside France through local partnerships and convenience formats. It also reflects rising interest from international retailers in a Congolese market where modern retail is still developing.
Ronsard Luabeya
State-backed guarantee fund FOGEC has begun talks with CRDB Bank Congo and Koto Service to establish a financing scheme for motorcycle taxi drivers. A meeting held on April 3 in Kinshasa outlined an initial framework built around credit guarantees, lending and insurance solutions. No formal agreement has been signed or made public.
Under the proposed arrangement, roles would be divided among the three parties: FOGEC would provide loan guarantees, CRDB Bank Congo would handle financing, and Koto Service would provide motorcycle supply and maintenance services. The scheme is designed to help motorcycle taxi operators access funding to purchase or maintain their vehicles, as well as tailored insurance products.
The project aligns with FOGEC’s mandate to improve access to financing for entrepreneurs, including micro, small and medium-sized enterprises, startups and businesses underserved by the conventional banking system. On Feb. 3, 2026, FOGEC launched Bokeli, a digital platform aimed at helping entrepreneurs structure business plans and submit financing applications in formats aligned with bank requirements.
The appeal of the initiative for the motorcycle taxi segment reflects the growing role of this mode of transport in urban mobility in Congo. According to a study by Target SARL, 71% of users in the Democratic Republic of Congo relied on motorcycle taxis as their primary mode of transportation in 2025, up from 67% in 2023. The increase is driven in part by traffic congestion, limited public transport options and poor road conditions.
Drivers report steady income levels, with daily earnings reaching up to 120,000 Congolese francs, the equivalent of roughly $52 at the current exchange rate, and as much as $60 on busier days.
For CRDB Bank Congo, the initiative could help gradually expand its customer base. The bank opened its first branch in Kinshasa in December 2025, marking its entry into the country’s main banking market. According to its Pillar III report as of June 30, 2025, performance at that time was largely driven by interest on Treasury bills, which accounted for about 77% of net banking income. Income from customer transactions represented around 19.7% of net banking income, not 15.6% as previously reported.
Boaz Kabeya
DR Congo's Ministry of Posts and Telecommunications signed a memorandum of understanding with Unicom Airnet, a subsidiary of state-owned operator China Unicom, on April 7, 2026, in China, for the construction of a telecommunications satellite. According to an official statement, the agreement aims to "support digital sovereignty and improve national connectivity."
For similar objectives, the Democratic Republic of Congo had already signed a memorandum of understanding with Monacosat in November 2024. In September 2025, a representative of the Monaco-based operator, Jean-Philippe Anvam, was received in Kinshasa by President Félix Tshisekedi. At that meeting, officials said the satellite project was valued at $400 million. "The funds are available through a partner bank," Anvam said at the time.
No final contract has been disclosed so far, leaving its implementation uncertain.
In this context, the signing of a memorandum of understanding with Unicom Airnet adds a new dimension. Such agreements are generally non-binding frameworks that allow parties to define the technical and financial parameters of a project without committing to execution.
The Chinese group has strong industrial capabilities in telecommunications. Unicom Airnet describes itself as a satellite services platform backed by China Unicom, one of China's three major state-owned operators.
Congolese authorities have not specified whether this Chinese track replaces, complements or competes with the project led by Monacosat. The lack of official clarification creates uncertainty over the program’s direction, which is part of a broader digital sovereignty strategy.
The government is seeking to reduce dependence on foreign infrastructure by developing its own satellite capabilities, as connectivity needs grow rapidly.
Pierre Mukoko
More...
The provincial government of Kinshasa on Monday launched a registration campaign to allocate commercial spaces at the new central market, commonly known as Zando. The move marks a new phase in the reopening of the site, which has been closed since January 2021 and rebuilt from September 2022.
Authorities have begun a registration and verification process ahead of the allocation of spaces. The governor’s office said in a statement that the phase will run from April 7 to 20, 2026, between 8:30 a.m. and 4:30 p.m., with an official launch held at the Kinshasa Botanical Garden.
To qualify, applicants must be Congolese nationals or represent a company registered in Congo. Foreign nationals may also apply if they hold a residence permit. Applicants must be at least 18 years old and provide proof of trading activity through a valid business license, a trade register, or a 2026 economic activity registration form. They must also show proof of payment of property or rental income tax to obtain tax clearance.
The registration drive has also been rolled out at several locations across the capital, according to the Congolese Press Agency (ACP). These include Matete market, Liberté market, Maluku market, and the communes of Bandalungwa and Limete, to make it easier for traders to register.
The new facility includes 10,000 stalls, 650 shops, 10 warehouses of 500 cubic meters each, more than 300 kiosks, 10 cold rooms and 272 public restrooms, according to Emmanuel Mputu, coordinator of the Central Market construction project, as cited by ACP. That figure is well below the 80,000 stalls announced in 2024 by former Governor Gentiny Ngobila.
The project was financed through a $44.5 million loan from Sofibanque as part of a public-private partnership between the city and Sogema, which contracted Chinese firm SZTC to carry out the construction.
Rental rates for the various spaces have not yet been disclosed. However, the provincial government said former occupants of the central market are expected to be given priority.
Timothée Manoke
International Resources Holding (IRH) is expanding beyond its tin interests in the Democratic Republic of Congo, moving into the copper and cobalt sector in Lualaba province. The UAE-based group, which agreed in 2025 to pay $367 million for a 56% stake in Alphamin Resources — operator of the Bisie tin mine in North Kivu — is now linked to assets in Lualaba.
According to Africa Intelligence, the Emirati group is connected to entities that became partners of state miner Gécamines following mining title transfers in September.
Official documents released in recent weeks show that the Kabulungu project, a copper and cobalt deposit in Lualaba, is now held by Kabulungu Kamilombe Mining (KKM). The joint venture is 40% owned by Gécamines and 60% by Falcon Resources. The records confirm a partial transfer of the asset by Gécamines to Falcon Resources, but make no explicit mention of IRH.
Tailings and waste rock permits
Separate transactions have also involved permits related to mining tailings and waste rock in Lualaba. These assets were transferred to Kongo Mining Company (KMC), a joint venture between Gécamines and Luna Mining. As with the Kabulungu project, public records confirm the transfers and the creation of the entity, but do not establish a direct capital link to IRH.
Africa Intelligence nonetheless reports that both Falcon Resources and Luna Mining are connected to the Emirati group. It also says that KKM and KMC share the same chief executive, Yehezkel Ambar, suggesting operational coordination between the two entities.
In January 2026, 16 memorandums of understanding were signed in Kolwezi between the provincial government and Emirati companies. Authorities said mining was among the sectors covered, though the details of the agreements and the identities of the companies involved have not been disclosed.
These developments come amid a broader push by the United Arab Emirates into African critical minerals. In Zambia, IRH acquired a 51% stake in Mopani Copper Mines for $1.1 billion in 2024. The group is positioning itself across several metals considered strategic for the energy transition, including copper, cobalt, nickel and lithium. IRH’s corporate filings identify it as a subsidiary of 2PointZero, an investment platform within the International Holding Co (IHC) group.
Timothée Manoke
The Democratic Republic of Congo (DRC) could secure $1.882 billion in tourism investments following the inaugural UAE-Africa Tourism Investment Summit held in Dubai from Oct. 25 to 29, 2025, Tourism Minister Didier Mazenga said during a Council of Ministers meeting on April 3, 2026.
According to the official report, a $6 billion portfolio of tourism projects across Africa was selected after the summit. Of that total, $1.882 billion, or 31%, is earmarked for the DRC. Authorities said four projects presented by the country drew interest from Emirati investors.
These include the development of a protected areas circuit in western DRC, covering the Kinshasa Zoological and Botanical Garden, the Mangrove Marine Park in Muanda, Kundelungu National Park, and the Bombo-Lumene Reserve. Other projects include the renovation of the N’sele tourist village, the development of the Muanda-Kinshasa-Kananga road corridor and the Kinshasa-Mbandaka-Kisangani river route, as well as the rehabilitation of the Kitona (Lippens) tourist site.
Details yet to be finalized
At this stage, the funding has not been secured. Mazenga said the process and timeline for accessing the funds will be clarified at a forthcoming summit in Nairobi. In the meantime, the Ministry of Tourism, working with the Ministry of Planning, is preparing technical requirements, including project briefs.
The minister also called for closer coordination with other relevant ministries, including Finance, Budget, Land Affairs, and Infrastructure and Public Works, to help the DRC attract these investments and turn them into tangible projects.
This development comes amid strengthening economic ties between Kinshasa and Abu Dhabi. In February 2026, the DRC and the United Arab Emirates signed a comprehensive economic partnership agreement, along with three memorandums of understanding. Authorities aim to double bilateral trade from $5 billion to $10 billion by 2030.
In recent months, the UAE has shown growing interest in sectors including infrastructure, mining, agriculture, health, energy and tourism. In January 2026, Lualaba province announced 16 agreements with Emirati investors.
For now, the Dubai summit has initiated an investment process that remains under development rather than confirmed funding. The challenge for the Congolese government will be to convert this interest into firm commitments and deliver projects on the ground.
Ronsard Luabeya
Virtus Minerals has finalized the acquisition of Chemical of Africa (Chemaf) for approximately $30 million. The deal was completed on March 27, according to a Wall Street Journal article published on March 31 and relayed on the U.S. company’s website.
The transaction includes a plan to mobilize nearly $720 million to develop the copper and cobalt producer’s projects. The framework includes an initial $200 million contribution from Virtus and its operating partner, India’s Lloyds Metals. A further $475 million is expected from New York-based investment fund Orion Resource Partners, along with about $75 million from other sources.
While these figures point to a substantial financing package, details remain unclear. Work is set to begin in April, with a target to finalize the financing by early next year. The Wall Street Journal reported that Orion declined to comment, and no information has been disclosed on the additional funding sources. It is also unclear whether these commitments are firm or conditional, or whether they involve debt, equity, or hybrid instruments.
Beyond the takeover, restarting Chemaf’s operations will require additional capital. Up to $300 million may be needed to complete expansion projects at the Mutoshi mine in Kolwezi and the Étoile mine in Lubumbashi. These sites are expected to produce around 75,000 tonnes of copper cathodes and 25,000 tonnes of cobalt hydroxide annually.
These funding needs come on top of existing liabilities, raising questions about the overall financing structure. Chemaf’s debt is estimated at nearly $1 billion, including obligations to local subcontractors and commodities trader Trafigura.
No clarity on subcontractor debt
In 2022, Trafigura arranged a $600 million syndicated loan to finance processing capacity expansion and the mechanization of the Mutoshi mine. Virtus said it had reached an agreement with the trader, without disclosing the terms.
By contrast, there is no clarity on the debt owed to local subcontractors, whose total remains unknown. The Wall Street Journal reported that Virtus declined to comment on any plans to settle this debt.
Asked about financing the restart of Chemaf’s operations, Virtus said in a March 13 press release that Congolese authorities had approved the deal after reviewing the transaction structure, the financial capacity of the consortium, and its plans for Chemaf’s activities.
Virtus also indicated that it intended to deliver on its commitments through investments, job creation, and operational results, according to the same release.
The U.S. government has identified the acquisition of Chemaf’s assets by Virtus and its Indian partner as one of three projects critical to implementing the strategic partnership on critical minerals signed with the Democratic Republic of Congo (DRC) on December 4, 2025. The deal forms part of a broader effort to secure supplies of critical minerals amid Chinese dominance. Copper and cobalt are essential for advanced military systems, the energy transition, and the production of batteries for electric vehicles and electronic devices.
However, in practice, the project’s success will depend on the consortium’s ability to secure the announced financing and stabilize operations at sites weakened by illegal mining activity.
Pierre Mukoko