News (383)
The Kamoa-Kakula copper mine in the Democratic Republic of Congo (DRC) produced 133,120 tonnes of copper concentrate in Q1 2025, from 86,117 tonnes in the same quarter in 2024, thus 58% up. On April 7, Canadian operator Ivanhoe Mines released the figures.
This growth was fueled by strong performance across the mine's three concentrators, which processed a record 3.72 million tonnes of ore in the quarter. The Phase 3 concentrator was particularly notable, milling 1.51 million tonnes of ore alone, while the mine achieved a daily record of 51,528 tonnes by the end of March.
The robust output aligns with Ivanhoe's 2025 production targets for Kamoa-Kakula, which project between 520,000 and 580,000 tonnes of copper concentrate for the year, up from the 437,061 tonnes delivered in 2024. Ivanhoe also expects ore grades at the Phase 3 concentrator to improve throughout the year, driving continued strong results.
Ownership of the Kamoa-Kakula mine is split among the Congolese state, which holds a 20% stake, Ivanhoe Mines and Zijin Mining, each holding 39.6%, and Crystal River Global Limited, with a 0.8% interest. The mine's operational achievements underline its growing role as a significant contributor to the DRC’s copper production and its strategic importance in the global copper market.
This article was initially published in French by Aurel Sèdjro Houenou (Ecofin Agency)
Edited in English by Ola Schad Akinocho
Genew Technologies and Zhongshi Wosen, both Chinese companies, will help the Democratic Republic of Congo (DRC) build its fiber optic network. The Congolese Minister of Telecoms, Augustin Maliba, signed the related memorandum of understanding(MoU) on April 7, 2025.
"With the support of the Minister and the Agency for the Steering, Coordination and Monitoring of Collaboration Agreements (APCSC), we will strive to significantly improve the telecommunications sector in the DRC," said Wu Minhua, CEO of Genew Technologies. He also noted that the DRC had been on his company’s radar for investment for several years, adding, "The time has come, that's why we're here."
While MoUs often lead to collaboration, they are not legally binding commitments. Thus, only definitive agreements will seal the partnership with Genew Technologies and Zhongshi Wosen.
Genew Technologies, founded in 2005 and headquartered in Shenzhen, specializes in end-to-end communication solutions and telecommunications infrastructure. It is listed on the Shanghai Stock Exchange.
Zhongshi Wosen, on the other hand, remains less known, though it is already active in the DRC. Its president, Zhou Tiesheng, visited Central South University (CSU) in China alongside a Congolese government delegation in November 2024.
According to the Congolese Ministry of Telecom, the two Chinese companies are experienced in ICT and fiber optic communications, and have worked in markets like Angola and Mauritania.
The need for infrastructure development in the DRC is pressing. According to the Autorité de Régulation de la Poste et des Télécommunications (ARPTC), only 9,361 km of optical fiber have been deployed out of the 50,000 km outlined in the Plan National du Numérique – Horizon 2025.
This article was initially published in French by Pierre Mukoko
Edited in English by Ola Schad Akinocho
Tenke Fungurume Mining (TFM) and Kisanfu Mining (KFM), two subsidiaries of Chinese group China Molybdenum Corporation Limited (CMOC) in the Democratic Republic of Congo (DRC), reported impressive sales of 50.6 billion yuan renminbi ($7.05 billion) in 2024, up 80.71% compared to 2023. The figure was almost 40% of the DRC's national budget 2024.
Over the year reviewed, CMOC sold 689,521 tonnes of copper, generating $5.82 billion, and 108,892 tonnes of cobalt, contributing $1.22 billion. The DRC accounted for 77.5% of mineral output sold directly by the Chinese group; it was the group's most profitable jurisdiction in terms of gross margin (47.1%), despite rising operating costs.
“During the first half of 2024, three production lines at TFM's mixed ore project achieved their production targets and standards. This brought TFM's production lines to five, with an annual copper capacity of 450,000 tonnes. Combined with KFM's annual capacity of 150,000 tonnes, the group operated six production lines in the DRC, exceeding 600,000 tonnes per year,” CMOC officials explained.
This strong performance comes amid fluctuating market conditions. While copper prices held steady in 2024, cobalt prices fell 26.57% over the year, from over $28,000 per tonne in January to $24,000 in December.
Regulatory Challenges
Last February, Congolese authorities temporarily suspended cobalt exports for four months to stabilize prices on an oversupplied market.
However, CMOC has kept producing and stockpiling. In Q1 2025, the group produced 30,414 tonnes of cobalt, up 20.7% year-over-year, and maintained its annual forecast of 100,000 to 120,000 tonnes. Since the suspension, cobalt prices have rebounded, rising 57%, reinforcing CMOC's strategy.
The DRC remains a critical player in the global cobalt supply chain, with TFM and KFM accounting for over 70% of global cobalt production. In 2024, the two subsidiaries contributed to 60% of the DRC’s cobalt exports and 45% of copper exports, generating substantial state revenues from mining royalties and taxes.
Looking ahead, CMOC’s prospects in the DRC remain strong, but challenges persist. The group faces regulatory hurdles, geopolitical tensions between China and the U.S., evolving demand for battery metals, and calls for greater supply chain transparency. Its strategy of diversification, vertical integration, and investment in sustainable infrastructure will be crucial for maintaining its growth trajectory while addressing environmental and social concerns associated with mining in Central Africa.
It is worth noting that CMOC, via its Swiss subsidiary IXM, which specializes in raw materials trading, also markets resources purchased from other producers.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
On April 2, 2025, China Molybdenum Co. Ltd (CMOC) issued a tender call for electrical work in the localities of Kisanfu Gare and Koni, Lualaba province, Democratic Republic of Congo (DRC). The project involves constructing a 2.5 km 11 kV medium-voltage line, creating low-voltage networks, and installing a public lighting system.
Interested companies must submit applications by April 7, including legal and financial compliance documentation and references for similar projects.
This initiative is part of the development of the Kisanfu mining project, which CMOC acquired in December 2020 for $550 million from Freeport-McMoRan. The Kisanfu deposit is notable for its significant copper and cobalt resources, which are crucial for electric vehicle battery production.
CMOC is a major player in subcontracting in the DRC. In 2024, it awarded over $985 million in contracts to local companies through its Tenke Fungurume and Kisanfu mines, accounting for nearly 50% of the total volume reported by the Autorité de régulation de la sous-traitance dans le secteur privé (ARSP).
Boaz Kabeya (intern)
Ivanhoe Mines is preparing for a significant increase in power requirements at the Kamoa-Kakula mine complex as it readies to commission the facility’s smelter in May 2025. By 2026, when all phases and the smelter are fully operational, electricity demand is expected to rise to approximately 240 MW, up from 130 to 140 MW in March 2025.
In a press release dated April 7, Ivanhoe has outlined its plans to meet this growing demand and transition the complex to green energy by 2026.
Last month, 100 MW came from hydroelectric sources. Half of the input came from Zambia or Mozambique, and the other half was produced on-site, by diesel generators. Following a recent agreement, hydroelectric imports have increased from 50 MW to 70 MW, with further expansion to 100 MW expected soon.
The commissioning of Inga II turbine 5 in the third quarter of 2025 will add another 50 MW of hydroelectric power, potentially bringing the total hydropower supply to 200 MW if imports are maintained at 100 MW. Additionally, Ivanhoe plans to launch a solar project in August 2025, which will provide a constant 30 MW of power through a 222 MWp photovoltaic solar power plant coupled with a battery storage system. The project falls under a recent agreement between Kamoa Copper, which owns the Kamoa-Kakula complex, and CrossBoundary Energy, a clean energy developer.
“This enhanced power capacity has bolstered confidence in finalizing the commissioning of the smelting furnace,” reads the April 7 release. According to this source, the smelter should produce its first 99.7% purity copper anodes by July 2025. Ivanhoe projects reaching around 80% of the smelter's capacity by year-end, with power consumption rising from 45 MW at start-up to 70 MW at full capacity.
By 2026, Ivanhoe aims to exceed annual copper production of 600,000 tonnes with the completion of Project 95, which seeks to optimize copper concentrate recovery to 95%. This initiative could add 30,000 to 40,000 tonnes of concentrate annually, following projected production of between 520,000 and 580,000 tonnes in 2025. After reaching 437,061 tonnes in 2024, Ivanhoe’s strategic investments in renewable energy and operational efficiency are set to drive significant growth in copper output.
This article was initially published in French by Pierre Mukoko
Edited in English by Ola Schad Akinocho
In Djugu territory, located in Ituri province, persistent insecurity and a lack of transportation have severely disrupted local agricultural activity. According to testimonies gathered by Radio Okapi, food crops such as potatoes, cabbages, and beans are rotting in the fields, unable to reach consumer centers like Bunia due to logistical challenges.
The situation is particularly dire in localities such as Largu and Drodro, where armed groups have made key roads impassable, including those connecting Largu, Saliboko, and Katoto. "The roads have become impassable. Harvested produce remains on the spot and ends up getting lost," lamented Charité Banza, a civil society representative in Northern Bahema.
A 2023 study by the Food and Agriculture Organization (FAO) highlighted that 60% of farmers and 64% of herders in Ituri were already struggling to market their goods due to rising transport costs and deteriorating road infrastructure. These issues have limited market access, reduced rural incomes, and disrupted the flow of agricultural and livestock products to consumption centers.
Efforts have been made to address these challenges. In August 2024, the Stabilization and Recovery of Eastern DRC (Star-Est) project announced plans to rehabilitate 50 km of agricultural feeder roads in Djugu territory using high-intensity labor methods. This initiative aimed to open up production areas and facilitate crop evacuation along routes such as the Soleniama-Katoto-Kparngaza-Masumbuko-Blukwa axis. However, ongoing insecurity continues to undermine these efforts.
Beyond agricultural losses, the lack of transportation is affecting the supply of necessities in landlocked areas. Goods like soap, salt, and fuel typically transported from Bunia are becoming scarce, driving up prices. For instance, the price of a liter of fuel has surged from 3,500 to 5,000 Congolese francs in just a few weeks.
Boaz Kabeya (intern)
The Kipushi mine in the Democratic Republic of Congo (DRC) produced 42,736 tonnes of zinc concentrate in the first quarter of 2025. Ivanhoe Mines, the asset’s Canadian owner, released the figure in its quarterly report dated April 7. The document indicates that Kipushi produced 18,946 and 32,490 tonnes in Q3 and Q4 of 2024, respectively.
Ivanhoe attributes the growth to strong operational momentum at the mine’s concentrator, which achieved an average recovery rate of 88%. During the past quarter, the facility milled a record 151,403 tonnes of ore with an average grade of 53% zinc in the concentrate produced.
Ivanhoe expects the mine to deliver between 180,000 and 240,000 tonnes of zinc concentrate this year, which is significantly higher than the 50,307 tonnes recorded in 2024. However, at the current pace, projected annual production would reach only 170,944 tonnes, falling short of the lower end of the target range. The second quarter will be critical in determining whether Ivanhoe can meet its annual goals.
Operational challenges in 2024 had already forced Ivanhoe to revise its forecasts downward from an initial estimate of 100,000–140,000 tonnes to just 50,000–70,000 tonnes. While Kipushi’s ramp-up is promising, sustained progress will be necessary to achieve its ambitious production targets for 2025.
The Kipushi mine came online last June.
This article was initially published in French by Aurel Sèdjro Houenou
Edited in English by Ola Schad Akinocho
Kobold Metals, a mining company backed by Jeff Bezos and Bill Gates, is gaining traction in its bid to acquire a stake in the Manono lithium project in the Democratic Republic of Congo (DRC). Recent developments, including the visit of Massad Boulos, U.S. President Donald Trump’s Senior Advisor for Africa, to Kinshasa on April 2-3, 2025, signal growing U.S. interest in the DRC’s mining sector.
During his meeting with President Félix Tshisekedi, Boulos discussed strengthening bilateral ties through a potential “security for minerals” agreement to boost U.S. private sector investment, foster peace in the African nation, and preserve its territorial integrity. While details of the agreement remain unclear, Boulos confirmed progress toward a framework that could support American companies like Kobold Metals.
"I look forward to working with President Félix Tshisekedi and his team to stimulate US private sector investment in the DRC, particularly in the mining sector, with the shared goal of contributing to the prosperity of our two countries," he added.
Kobold’s proposal to develop the Manono deposit, which it describes as “a large-scale, long-term lithium mine,” comes as the DRC faces legal disputes over the project. Resolving these issues could help Kinshasa close its case with AVZ Minerals, in which state-owned Cominière was condemned to pay €39.1 million in penalties.
Further boosting Kobold’s position are recent U.S. tariffs targeting various countries, including Indonesia and China, both major players in the lithium battery supply chain. Washington’s recent measures could bolster American investment in the DRC as global demand for lithium continues to rise.
China-US Rivalry
The Democratic Republic of Congo (DRC) is emerging as a strategic player in the global race for critical minerals, with its 11% tariff for access to the U.S. market positioning it as an attractive alternative for American companies like Kobold Metals. Under the Trump administration’s new trade policies, this low tariff rate, combined with exemptions on several critical minerals—including cobalt, graphite, lithium, and tantalum, according to La Tribune—reinforces the strategic importance of investing in the DRC. As one of the world’s leading producers of these resources, the DRC holds significant leverage in negotiations.
Further strengthening Kobold Metals’ position is a proposed bill in the U.S. Congress aimed at curbing China’s dominance in Africa’s critical mineral supply chains. With Beijing controlling 80% of mining projects in the DRC, this legislative initiative aligns with broader U.S. efforts to counter China’s influence while promoting American investment in Africa’s strategic resources.
The DRC, however, has its own priorities. It seeks not only a militarily reliable ally but also greater participation in value chains tied to its mineral wealth, particularly as it advances its energy transition goals. The recent launch of a special economic zone (SEZ) dedicated to producing battery precursors and potentially assembling electric vehicles underscores Kinshasa’s ambition to capture more value domestically.
Competing with Rio Tinto
Competition for Manono’s lithium is intensifying. Anglo-Australian mining giant Rio Tinto has reportedly expressed interest in the deposit, adding pressure on the Congolese government to resolve disputes and capitalize on Western interest. This rivalry between Kobold Metals and Rio Tinto could strengthen Kinshasa’s negotiating position but also accelerate decision-making in a sector where China remains dominant.
For the Trump administration to secure deeper access for American investors, it will need to offer tangible guarantees that address Kinshasa’s economic and security concerns. In this geopolitical contest over African minerals, Manono’s lithium has become emblematic of the global competition for resources critical to the energy transition. How this plays out will depend on whether the DRC can balance its strategic objectives with mounting international interest in its mineral wealth.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
On April 2, 2025, Ivanhoe announced it had secured exploration licenses covering 7,757 square kilometers in Zambia’s North West Province.
The newly acquired Zambian concession lies 230 kilometers northeast of Ivanhoe’s Western Forelands project in the DRC. The company emphasizes geological similarities between this area and copper-rich discoveries in the DRC, particularly at Kamoa-Kakula. Ivanhoe is betting on the continuity of the Central African Copperbelt, which spans both nations.
“Our entrance into Zambia marks an exciting new chapter in Ivanhoe Mines’ commitment to expanding our exploration footprint and testing the extent of the Central African Copperbelt…which is already the world’s largest and highest-grade sedimentary Copperbelt,” said Robert Friedland, Ivanhoe’s Executive Chairman.
The key question is whether Ivanhoe can replicate its DRC success in Zambia. At Kamoa-Kakula, Ivanhoe boasts an annual production capacity of 600,000 tonnes of copper, with plans to exceed 800,000 tonnes over time. Even if Zambia does not reach these figures, success there would diversify Ivanhoe’s copper production, which currently relies entirely on the DRC.
Ivanhoe Mines is poised to make significant progress on its Zambian concession in the coming months, with key preparatory steps underway. During the second quarter of 2025, the company plans to hire environmental consultants to draft an Environmental Management Plan (EMP), which will be submitted for approval to the Zambian Environmental Management Agency (ZEMA).
In parallel, Ivanhoe is analyzing aeronautical geophysical data from the concession to design a feed program using the tariff and Air Core drilling methods. This process will enable its team of geologists to conduct detailed mapping of the expansive licensed area, identifying initial targets for future diamond drilling. The results of these operations will provide critical insights into the concession’s resource potential, shaping Ivanhoe’s exploration strategy and investment decisions.
This article was initially published in French by Emiliano Tossou
Edited in English by Ange Jason Quenum
Since returning to power last January, President Donald Trump has prioritized boosting domestic supplies of critical minerals, such as copper, essential for energy transition technologies. In this context, the US support for developing a battery production value chain in the Democratic Republic of Congo (DRC), as outlined in a Memorandum of Understanding (MoU) signed in December 2022, seems uncertain.
This strategic shift involves leveraging executive powers to accelerate domestic extraction and processing of raw materials, potentially at the expense of supporting downstream segments like battery manufacturing abroad.
The Trump administration has suspended funding from the Inflation Reduction Act (IRA) intended to support global battery value chains, opting to reassess their allocation in line with new policy priorities.
The December 2022 MoU had envisioned U.S. support for promoting the DRC's electric vehicle battery development initiative to American investors. This included potential business development and technical assistance to facilitate U.S. private sector participation in such projects. However, with the current emphasis on domestic resource development, the realization of these intentions seems increasingly uncertain.
Meanwhile, last week, the DRC has launched the Musompo Special Economic Zone (SEZ) in cobalt-rich Lualaba province. The SEZ will produce battery precursors, batteries, and potentially assemble electric vehicles from local raw materials. The project seeks to mobilize nearly $2 billion in private investment.
In 2023, former Minister of Industry Julien Paluku estimated that $30 billion would be required to establish the first integrated manufacturing plant for battery precursors, batteries, and electric vehicles. He projected that this initiative could enable the DRC to capture nearly $7 trillion from the global value chain by 2035-2040.
This article was initially published in French by Emiliano Tossou (Ecofin Agency)
Edited in English by Ola Schad Akinocho
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Between 2023 and 2024, power output in the Democratic Republic of Congo (DRC) rose by 303.1 gigawatt-hours (GWh) or 3.04%. According to the country’s power utility, the ARE, hydropower plants, such as the Inga I and II plants, mostly drove the increase. The source, the ARE’s annual report, the DRC’s power output rose by 9.8% from 2020 to 2024.
Despite this progress, the DRC’s total electricity output remains remarkably low, reaching just 13.6 terawatt-hours (TWh) in 2024. For perspective, this is equivalent to only about 11 days of electricity consumption in France, a country that has undergone significant deindustrialization. In contrast, South Africa, the regional leader in sub-Saharan Africa, distributed 178.68 TWh in the first 10 months of 2024 alone. That is 13.7 times the DRC’s annual production.
The ARE notes that its data still requires refinement to “accurately reflect the sector's reality relative to power production.” However, these figures highlight efforts to achieve Sustainable Development Goals (SDGs) and industrialize its economy, particularly by transforming its abundant mining resources into higher-value products locally.
Based on estimations integrating transmission losses, estimated at 46%, Bankable found that the available electricity barely covers the basic needs of urban and rural households, which require around 8 TWh annually.
Undertapped Potential
To overcome this, the Congolese government allowed the private sector to step into the country’s supply chain. Since 2020, 37 new projects led by private investors have been authorized, representing a potential installed capacity of 4,125.1 megawatts (MW). According to the ARE, these projects could boost the DRC’s total installed capacity to 6,988 MW by 2030. They include thermal(using generators), hydropower, and import projects.
Solar energy is a standout area, with 67% of authorizations focused on photovoltaic projects, offering a projected capacity of 2,721 MW. The DRC also boasts immense hydroelectric potential, estimated at 100,000 MW, capable of producing between 438 and 525 TWh annually under optimal conditions. Solar energy, with its promising prospects, could reach up to 746 TWh per year if fully exploited. Biomass and natural gas also represent high-potential sectors, although their development is still limited.
However, the DRC still faces significant challenges: reducing network losses, modernizing aging infrastructure, and attracting more investment. Millions of Congolese lack reliable access to electricity, a reality that also presents an investment opportunity. The market for cooking energy alone absorbs nearly $4 billion annually, primarily for charcoal purchases.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
On March 24, 2025, Republican Congressman Christopher Henry Smith introduced a bill in the U.S. House of Representatives to block cobalt refined in China from entering the U.S. market. Smith claims that cobalt processed in China is tied to child and forced labor in the Democratic Republic of Congo (DRC). As of March 30, 2025, the H.R.2310 bill was not online.
In December 2023, Smith proposed a similar measure that failed to advance before the November 2024 elections. That earlier bill, which the Ecofin Agency consulted, aimed to sever U.S. ties with supply chains linked to cobalt mined under exploitative conditions in the DRC and refined in China.
Known as the H.R. 6909 bill or the "Cobalt Restriction Act," the draft law targets reports of poor working conditions and human rights abuses in DRC mines. It seeks to ban products containing cobalt refined in China unless proven not to originate from the DRC.
The U.S. has previously flagged Congolese cobalt for its labor issues. In September 2024, the Department of Labor added it to its list of products made with child labor. However, this latest bill comes amid worsening U.S.-China relations, with China controlling over 80% of global refined cobalt supplies.
This proposal sparks a crucial question: does it truly aim to combat child labor, or does it mainly seek to limit China's dominance over Congolese cobalt? Besides refining, China also controls several cobalt mines in the DRC. Since 2023, the Chinese group CMOC has become the world’s top cobalt producer thanks to its Tenke Fungurume and Kisanfu mines in the DRC.
While independent reports confirm child labor in artisanal mining, accounting for 15-30% of DRC’s cobalt production, most production is managed by industrial operators.
This article was initially published in French by Emiliano Tossou
Edited in English by Ola Schad Akinocho
At the United Nations Security Council meeting on March 27, 2025, the United States called for the immediate reopening of Goma International Airport in eastern Democratic Republic of Congo (DRC), a critical lifeline for humanitarian and economic operations in North Kivu province. Acting U.S. Ambassador to the UN, Dorothy Shea, emphasized the urgency of the situation, stating, “We demand that the M23 (...) take the necessary steps to reopen the airport without delay.”
Goma airport has been under M23 rebel control since January, following their seizure of Goma amid intensified fighting between the group—backed by Rwanda—and Congolese government forces. The airport’s closure has paralyzed relief efforts for millions of displaced civilians and disrupted vital supply chains for medical aid, food, and other necessities. Humanitarian organizations, including the UN and European Union, have repeatedly urged its reopening to establish a humanitarian corridor.
According to reports from Radio France Internationale (RFI), M23 has initiated demining operations at the airport, a crucial step toward resuming operations. However, significant obstacles remain: explosives must be fully neutralized to ensure air safety, the control tower must be restored, and baggage handling systems reactivated. Additionally, questions persist about who will oversee airport management. Collaboration between Kinshasa and M23 appears unlikely given ongoing hostilities, leaving the United Nations Mission in the DRC (MONUSCO) as a potential mediator or operator.
Dorothy Shea further demanded that M23 cease obstructing MONUSCO’s activities: “We demand that the M23 immediately cease obstructing Monusco operations.” Her statement underscores growing international frustration with the group’s actions amid a worsening humanitarian crisis.
The diplomatic context surrounding Goma’s airport is complicated by broader tensions in the region. Earlier in March, Ronny Jackson—a U.S. Congressman reportedly acting as an emissary for former President Donald Trump—visited several Great Lakes nations. While Jackson reaffirmed U.S. support for the DRC’s territorial integrity and advocated for a regional security framework, his comments sparked mixed reactions among regional leaders.
Speaking before a committee in the United States, Jackson reaffirmed the inviolability of the DRC's borders. However, he felt that a military solution would not end the conflict. He and other speakers at the session called for the establishment of a regional framework guaranteeing the security and economic interests of all players in the zone, while calling on Kinshasa to strengthen its governance.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
United Bank for Africa (UBA) DRC, the Congolese subsidiary of the eponymous Lagos-based bank, posted a net profit of 21 billion naira ($13.6 million) in 2024, up from 4.3 billion naira ($4.3 million) in 2023. According to our sources, the Congolese branch contributed five times more to the group’s profit between 2023 and 2024.
This remarkable growth was driven by a sharp rise in operating income, which soared to 22.8 billion naira, up from 4.3 billion naira the previous year. UBA RDC expanded its traditional lending activities while aggressively entering the debt securities market, investing approximately $76.7 million in this segment last year.
The subsidiary’s performance also benefited from macroeconomic factors, particularly the depreciation of the naira against the U.S. dollar, as nearly 91% of banking assets in the DRC are dollar-denominated. Adjusted for exchange rate fluctuations, UBA RDC’s profit growth remains impressive at 216%, underscoring its operational efficiency despite currency volatility.
While UBA DRC has emerged as an important growth driver for the Nigerian banking giant, it is not yet among the group’s most strategic subsidiaries. Countries like Cameroon, Côte d’Ivoire, Mozambique, Senegal, and Congo Brazzaville contribute more to UBA’s overall profits. Moreover, UBA RDC remains a relatively small player in the Congolese banking sector, prompting the bank to launch an ambitious five-year strategic plan (2024–2028) to scale its operations.
The plan includes expanding its branch network from three locations in 2024 to 21 by 2028 and increasing ATMs across key regions. It also targets mobilizing $1.8 billion in deposits by the end of the period—up from $269 million in 2023—positioning UBA RDC for long-term growth. As part of this strategy, the bank recently opened a new branch in Matadi, focusing on import-export activities that have proven successful in other markets like Cameroon.
Georges Auréole Bamba