News (571)
Last year, 2% of the cobalt produced in the Democratic Republic of Congo (DRC) came from artisanal mines. The figure, disclosed in the Cobalt Institute’s annual report published on May 14, 2025, is significantly lower than the years before. According to various organizations, in recent years, artisanal mining contributed between 10% and 30% to the country’s overall output.
"In 2018, when cobalt metal prices had reached over $40 per pound, smallholders' share represented around 10% of DRC production. By 2024, with the significant increase in supply in the DRC [and globally], Benchmark estimates that this share has fallen to less than 2% of national production, or around 1% of global production," says the Cobalt Institute.
The report does not provide detailed volumes for artisanal production in recent years, making precise verification difficult. The Congolese Ministry of Mines does not differentiate cobalt production or exports by mining type, unlike other minerals like diamonds, gold, or tin.
The Cobalt Institute report attributes the drop mainly to: the boom in industrial cobalt production and the decline in cobalt prices. However, the Cobalt Institute suggests artisanal mining volumes may rise again in early 2025 following Kinshasa’s February export suspension, which caused cobalt prices to increase by over 50%.
Artisanal and small-scale mining (ASM) faces criticism for poor traceability, child labor, and human rights violations. Dinah McLeod, Executive Director of the Cobalt Institute, emphasizes that the challenge is not to eliminate artisanal mining but to make it fair, safe, and free from abuses, as it remains a vital source of employment for many in the region.
The current decline in artisanal activity, often illegal, underscores the need for rapid formalization. Formalizing the sector would enable stakeholders to better benefit from favorable market conditions expected in the early 2030s, when supply deficits may emerge.
This article was initially published in French by Emiliano Tossou
Edited in English by Ola Schad Akinocho
The Japan International Cooperation Agency (JICA) has granted $27 million in non-repayable financing to the SNEL, the power utility of the Democratic Republic of Congo (DRC). The related deal was sealed on May 9, 2025, by the Congolese Minister of Foreign Affairs, Thérèse Kayikwamba Wagner, and the Japanese Ambassador to the DRC, Ogawa Hidetoshi.
This funding is meant to help boost access to electricity in the Mont-Amba district of Kinshasa. This district regroups the following municipalities: Limete, Lemba, Matete, Ngaba, and Kisenso.
The project involves rehabilitating the 220-kV Liminga and Funa substations, modernizing the power transmission system, installing new high-voltage transformers, and building modern control rooms. These upgrades should help stabilize the power supply in this part of Kinshasa.
This initiative is part of ongoing bilateral cooperation between the DRC and Japan. JICA had initially allocated $18 million to the project in November 2023, but after feasibility studies, the amount was increased to $27 million to meet project requirements
BK (intern)
The DR Congo government should soon secure $1.49 billion from the World Bank for four projects. Several preliminary agreements related to the financing were recently sealed in this framework by administrations, including the Ministry of Finance, the Ministry of Infrastructure, and the Grand Inga Project Development Agency. According to documents reviewed by Bankable, the World Bank’s Board of Directors could approve the agreements between May 21 and June 3, 2025.
Given that the Central African country just completed the first review of its program with the International Monetary Fund (IMF), it is well-positioned to finalize this financing. The draft rectifying budget currently in preparation already incorporates these concessional World Bank loans, as confirmed by the IMF.
$600 Million to Improve Governance
The largest allocation, $600 million, is earmarked for budgetary support to the government’s reform program focused on economic governance, transparency, and resilience. This support is structured around three pillars:
The first pillar aims to enhance the efficiency and transparency of public administration, including modernizing the Treasury, improving public accounting, and reforming procurement processes.
The second pillar seeks to boost the business climate and private investment. Under this pillar, the Telecommunications Act 2020 will be implemented, competitive managers for strategic public companies will be appointed, and initiatives to achieve greater transparency in these firms’ management will be launched.
The third pillar aims to boost the quality of renewable energy services and help protect forests better. Under this pillar, authorities will introduce climate governance mechanisms and reforms to foster sustainable management of forest resources.
$440 Million to Build 200 km of Roads
The second project under the preliminary World Bank financing agreements is the second phase of the Connectivity and Transport Support Program (PACT 2), valued at $440 million. This project involves the construction of 200 km of Route Nationale 2 (RN2) between Mbanga and the Lualaba River, including a planned 700-metre bridge over the river.
The Lualaba River–Penemwanga section, initially part of PACT 2, has been moved to PACT 3, which will extend 544 km to Bukavu. The three phases of PACT are estimated at $1.5 billion: $500 million for PACT 1, $440 million for PACT 2, and approximately $560 million for PACT 3.
PACT 1 covers the asphalting of two other RN2 sections: Mbuji-Mayi–Mbanga (280 km) and Kanyabayonga–Butembo (160 km), for 440 km. According to the World Bank, “work on these sections began in November 2024 and is progressing as planned”.
$250 Million for Inga 3
The third project is the first phase of the Inga 3 Development Program (PDI3), with an overall estimate of $1 billion. The initial phase, costing $250 million, will lay the groundwork for the hydroelectric power station, support local communities, develop urban and transport infrastructure, and foster private sector growth around the Inga corridor.
It will also strengthen governance in the energy and mining sectors and at the provincial level. Later phases will focus on larger, multi-sector investments, including technical, social, and environmental studies.
$200 Million to Fight Floods
The fourth project is the $200 million Urban Flood Resilience Project (PRIUR). This project focuses on curbing flood risks in Kinshasa and Kalemie and enhancing the country’s capacity to manage climate-related disasters.
While structural reforms remain a priority under the new IMF program, the construction of RN2 is considered crucial. A World Bank analysis highlights that poor road conditions lead to 15,200 deaths annually in the DRC, with an estimated economic cost of $2.8 billion, or 4% of GDP.
This article was initially published in French by Georges Auréole Bamba and Pierre Mukoko
Edited in English by Ola Schad Akinocho
The Democratic Republic of Congo (DRC) is approaching a disbursement of nearly $260 million under its new three-year economic program supported by the International Monetary Fund’s (IMF) Extended Credit Facility (ECF). The exact amount will depend on the exchange rate between the US dollar and the IMF's Special Drawing Rights (SDRs).
IMF mission chief for the DRC, Calixte Ahokpossi, who was in Kinshasa from April 30 to May 13, 2025, announced that the IMF mission and DRC authorities have reached a preliminary staff-level agreement on the first review of the program, marking a key step toward the disbursement.
The next step is a review by the IMF Executive Board, scheduled for the end of June 2025. If approved, this will be the second disbursement under the program, following the first installment of $266.14 million granted in January 2025 when the program was approved.
Despite intensified armed conflict in North and South Kivu provinces, which has caused severe humanitarian and budgetary challenges, the DRC has shown economic resilience. GDP growth, estimated at 6.5% in 2024 and driven by a dynamic extractive sector, is expected to remain above 5% in 2025. By April 2025, inflation had stabilized to levels similar to July 2022, supported by a stable exchange rate and appropriate monetary tightening, reinforcing the IMF’s confidence in government efforts.
The recent deal reflects the Congolese authorities’ commitment to ambitious structural reforms despite the deteriorating security situation. Progress has been made in modernizing public finance management, including strengthening the legal framework to enforce expenditure discipline. The government has advanced operationalizing the General Directorate of the Treasury (DGTCP), devolving expenditure authorization to sector ministries, establishing the Single Treasury Account (CUT), and moving toward a budget framework excluding extractive sector revenues to shield public spending from their volatility.
However, the IMF calls for intensified efforts to mobilize domestic revenues, particularly through accelerating standardized VAT invoicing, rationalizing tax exemptions, and strengthening the fight against tax evasion by enhancing mineral export controls and combating customs fraud.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
Cité de Chine, a Chinatown-like project in Kinshasa, was kicked off last Saturday, May 10. The Congolese Minister of Industry, Louis Watum Kabamba, laid the foundation stone for the project.
Carried by African Sunrise, a Chinese group, Cité de Chine is a large-scale project that spans 150,000 m². It will include shopping centers, logistics infrastructure, financial services, residential areas, and hotel facilities.
According to the Ministry of Industry, the project should require an initial investment of $200 million, but could later attract up to $300 million in additional capital. The project is expected to create around 30,000 jobs during construction and operation. Work is planned in two phases, with partial commissioning scheduled for December 2025 and full completion in May 2027.
Minister Kabamba, who laid the foundation stone for the project, stressed that it falls under efforts to boost the cooperation between China and the DRC, especially in regards to commercial and industrial infrastructure. “Cité de Chine reflects the industrial future of the DRC, taking shape in the heart of Kinshasa,” the Congolese official said.
The collaboration between the Congolese government and African Sunrise originated at the Forum on China-Africa Cooperation (FOCAC) in Beijing and continued with a meeting in Kinshasa on November 13, 2024, where the company presented its projects, including a shopping mall and industrial park in the capital.
African Sunrise Investment Group has executed similar projects in Angola, such as the $200 million Nova Era shopping center in Cacuaco and the $600 million Funda Industrial Park, which aims to host 160 factories and create over 30,000 jobs. These projects reflect the group’s strategy to grow its footprint in Africa, providing outlets for Chinese-manufactured products. This approach contrasts with the Congolese Ministry of Foreign Trade’s policy focused on reducing imports and promoting local industry.
This article was initially published in French by Boaz Kabeya and Timothée Manoke (interns)
Edited in English by Ola Schad Akinocho
The government of the Democratic Republic of Congo (DRC) is looking for a service provider to deploy digital terrestrial television (DTT) in 54 towns across the country. The provider will be selected through a bidding process. This decision was ratified on May 12, 2025, during a meeting of the National Committee for Migration to DTT (CNM-TNT).
The meeting was chaired by the Minister of Communication and Media, Patrick Muyaya. It was attended by the ministers of National Defense, Justice, Planning, Budget, Industry, Telecoms, Finance, and Culture.
According to the Minister, progress has been made in the selection process for the service provider, whose identity will be revealed in the coming days. He stated that all procedures have been finalized in collaboration with the Ministry of the Budget, leading to this outcome.
"We have been able to make progress, and that in the next few days, we will have more precise elements that will enable the Congolese and all service providers in the sector to know which partner we will be working with in the rollout of digital television," said the Minister of Communication and Media.
In December 2024, the interministerial commission had opted for a restricted call for tenders to select a technical partner for the next phase of the project, which would extend DTT to an additional 46 towns. The estimated cost of that operation was around $60 million, but with the extension to 54 cities, the cost has not been disclosed.
The first phase of DTT deployment in the DRC has already been completed, with nine cities currently benefiting from the service. Launched in 2018, DTT has generated nearly $82 million in revenue for the public treasury, which the government aims to increase through the subsequent phases of the project.
This article was initially published in French by Ronsard Luabeya (intern)
Edited in English by Ola Schad Akinocho
Asia Minerals Limited (AML) will start exploring for a manganese mine in Luozi, Kongo Central province, on May 21, 2025. The Minister of Mines presented the project during the May 9 Council of Ministers. AML is Japanese.
According to the Council’s minutes, the initiative falls under the Democratic Republic of Congo’s strategy to diversify the mining sector by broadening partnerships, expanding the range of ores mined, extending operational areas, and increasing the production of finished or semi-finished products. If exploration is successful, AML seeks to produce up to two million tonnes of manganese at the discovered asset.
The Minister of Mines requested government support to facilitate administrative procedures, provide institutional backing, and encourage the technical partnerships necessary for the project’s success. He highlighted that the Luozi project could serve as a lever for territorial, sectoral, and economic transformation, aligning with the DR Congo’s new vision for mining governance.
Founded in 1993 in Hong Kong, AML is an international company specializing in the entire manganese value chain, including mining, transformation into ferroalloys, and the production of metals and chemicals. The company has subsidiaries across Asia, Africa, Europe, the Commonwealth of Independent States (CIS), and North America.
AML also holds a majority stake in a ferroalloy smelter in Malaysia with an annual capacity of 220,000 tonnes, and a manganese mine in South Africa capable of producing two million tonnes per year.
This article was initially published in French by Boaz Kabeya (intern)
Edited in English by Ola Schad Akinocho
Texaf, the only listed company operating exclusively in the Democratic Republic of Congo (DRC), will distribute a net dividend of 1.23 euros per share for the 2024 financial year, as ratified at the Annual General Meeting on May 13, 2025. This dividend is 7% higher than the amount paid in 2024 for the previous year.
Last year, the firm’s net income dropped 35.6% year-on-year, amidst intensified conflicts in North and South Kivu provinces–a risky context, according to many investors. For its part, Texaf attributes the drop to increased depreciation and amortization due to accounting adjustments.
However, operating indicators show positive momentum. Operating value added (the gross difference between revenues and operating expenses) reached €11.1 million, up 12% compared to 2023. That year, Texaf’s income had reached €6 million.
The outlook for 2025 is encouraging. At the end of the first quarter, rental income- Texaf’s core business, focused on residential and office property rentals in Kinshasa-stood at 7.7 million euros, a 29% year-on-year increase.
“This increase is largely explained by the marketing of the new Promenade des Artistes neighborhood, comprising 94 apartments, as well as the opening of phase III of Silikin Village, offering an additional 6,000 m² of coworking space and private offices,” the company stated.
This trend indicates that recent investments are beginning to pay off. Without these new assets, rental income growth would have been just 6% in Q1 2025.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
Over the past year, oil suppliers active in the Democratic Republic of Congo (DRC) recorded losses and shortfalls of $31.5 million, down from $288.6 million in 2023 (-89%). Daniel Mukoko Samba, Minister of the National Economy, disclosed the figures on May 6, 2025. This gap is bridged by subsidies.
Without providing specific figures, Calixte Ahokpossi, mission chief of the International Monetary Fund (IMF), confirmed Samba’s report: “We found that losses and revenue shortfalls have decreased significantly.” Earlier this month, the IMF began the first review of its new program with the DRC.
This sharp decline contrasts with the IMF’s January 2025 report, which estimated deficits of $77 million for the first half of 2024-more than double the annual total now announced by Daniel Mukoko Samba. According to the latest certified figures, shortfalls amounted to $16 million in the first half and $15.52 million in the second half of 2024.
While Congolese authorities have not explained this discrepancy yet, the IMF report notes that the government has pledged “to strengthen transparency in the calculation and certification of losses and shortfalls due to oil companies, by improving the operational capacities of the Strategic Products Price Regulation Committee, set up in February 2023, and by involving all the ministries concerned”. This suggests earlier assessments may have been inaccurate.
Planned improvements include revising methods for calculating revenue losses, rigorously monitoring key parameters influencing petroleum product pricing, and ending the cumulative remuneration of oil logistics companies in the tariff structure by eliminating the mutualization of their operating costs.
Roadmap
These measures are part of a roadmap adopted in November 2023, following a May 2023 audit on the price structure and an IMF technical assistance mission in July 2023. In September 2024, the government launched molecular tagging in the eastern zone to prevent subsidized fuel diversion to ineligible uses. The decision to exclude the mining sector from diesel subsidies in the southern zone also aligns with this reform effort.
The IMF’s July 2024 report acknowledged that the roadmap helped “contain the accumulation of liabilities to oil companies, which were reduced from $545 million to $122 million in 2023.” The institution encourages continued efforts to reduce revenue shortfalls. However, subsidies could rise again in 2025 due to a 13% drop in pump prices, which has increased domestic consumption of finished petroleum products to nearly 50%.
This article was initially published in French by Pierre Mukoko and Boaz Kabeya (intern)
Edited in English by Ola Schad Akinocho
On May 8, 2025, the Ministry of Transport, Communication Routes and Opening-up issued an official letter listing 240 unapproved river and lake ports slated for immediate closure. The document, referenced N° VPM/MTVCD/CAB/563/2025 and signed by Deputy Prime Minister Jean-Pierre Bemba, was addressed to the Ministry of the Interior, Security, Decentralization, and Customary Affairs.
The measure aligns with resolutions from the 46ᵉ and 52ᵉ meetings of the Council of Ministers held on August 28 and October 9, 2020, respectively, focusing on regulating the river sector. It also follows Ministerial Letter No. VPM/MTVCD/CAB/458/2024 dated October 15, 2024, concerning the closure of so-called "illegal" ports.
The listed sites span multiple provinces, with the document specifying the names, locations, and in some cases, the owners of the affected infrastructures.
At the 17ᵉ ordinary Council of Ministers meeting on October 11, 2024, President Félix Tshisekedi instructed the government to enhance safety in river and lake navigation after a shipwreck on Lake Kivu. He emphasized combating clandestine ports, supervising boat construction, and strengthening regular technical monitoring by Ministry of Transport experts.
Following this directive, the Ministry had already initiated an operation to close unauthorized ports in response to a series of incidents on the waterways.
Boaz Kabeya (intern)
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Between February and March 2025, the African Development Bank (AfDB) issued general procurement notices for two major agricultural projects in the Democratic Republic of Congo (DRC): the $311.6 million Projet d'appui au développement des chaînes de valeur (PADCV) and the $130.5 million Projet d'appui à la gouvernance et au développement des compétences (PAGDC). Together, these projects open up $442.1 million in public contracts covering works execution, goods acquisition, and consultancy services.
Tender documents are expected from March 2025, though detailed procurement timelines remain unclear. AfDB credits totaling $377.9 million fund the projects, with the balance provided by the Congolese government and stakeholders, and financing active through 2029. The overarching goal is to reduce food imports by 60% over five years, currently valued at around $3 billion annually.
PADCV and PAGDC form part of the Agricultural Transformation Program (PTA), a flagship $6.6 billion, ten-year (2023–2032) initiative by the Congolese government to modernize agriculture by boosting productivity, linking rural areas to markets, strengthening youth and women’s skills, and improving sector governance.
The PTA is being rolled out in three phases. The first phase, spanning three years and costing $2.3 billion, targets nine provinces-Kongo Central, Kwango, Maï-Ndombe, Kasaï Oriental, Lomami, Sud-Kivu, Tshopo, Sud-Ubangi, and Nord-Ubangi-selected for their agricultural potential and capacity to become production hubs.
On May 8, 2025, at the 42nd edition of Macfrut-the international fruit and vegetable trade fair in Rimini, Italy-the DRC officially launched the PTA’s operational phase and presented the PADCV and PAGDC procurement notices. A press release highlighted that “Italian companies, recognized for their technological lead in this field, are therefore called upon to play a major role.”
This article was initially published in French by Ronsard Luabeya (intern)
Edited in English by Ola Schad Akinocho
In the Democratic Republic of Congo (DRC), state-owned Lignes Maritimes Congolaises (LMC) is about to add two vessels to its fleet, according to its Board Chairman Lambert Mende Omalanga. The executive announced the move on May 6 in Matadi, after meeting with Kongo Central Governor Grâce Bilolo.
“I have come to announce to the governor of Kongo Central province, Grâce Bilolo, that we are about to acquire two floating units to improve working conditions for our provincial management,” Omalanga said.
Mende, a former Communications Minister, emphasized that the two ships have been ordered from shipyards in Rotterdam, Netherlands, as part of LMC’s five-year recovery plan (2023–2027). Under the latter, the firm should buy five new vessels and second-hand multipurpose ships, using state funds.
The five-year plan aims to bolster the state-owned company’s fleet and increase its share of Congolese foreign trade shipping from 0.3% in 2021 to 2% by 2027. This would represent a growth in transported volume from 45,000 tonnes to 395,195 tonnes.
To support this expansion, LMC also plans to develop dry ports in Matadi, Boma, Lufu, and Kinshasa, reinforce storage facilities in Dar es Salaam, and build a dry port in Kolwezi (Lualaba). The company intends to acquire containers to optimize the logistics chain and improve trade flow.
LMC used to have 10 sea-going vessels, but its whole fleet was liquidated two decades ago. The public shipowner was created in 1974 to handle the international maritime transport of Congolese goods.
Lambert Mende also noted that the government has instructed LMC to collect shipping royalties, a measure intended to compensate the company for past losses.
This article was initially published in French by Ronsard Luabeya (intern)
Edited in English by Ola Schad Akinocho
The mobile Internet market in the Democratic Republic of Congo (DRC) generated $970.2 million in revenue in 2024. The figure, revealed by the country’s telecom regulator, the ARPTC, accounted for 46.4% of the sector’s total sales, which reached $2.09 billion.
Mobile Internet’s contribution to operators’ revenues rose from 29% in 2022 to 27.3% in 2023 and 46.4% in 2024. Between 2023 and 2024, the revenues from the Mobile Internet segment jumped 30.3%, while the whole mobile sector recorded an 8.7% growth in revenues.
This growth is driven more by a surge in data consumption than by subscriber growth. Over one year, the number of subscribers rose by 10% to nearly 33 million, while the volume of data consumed soared by 54% to a record 1,083 billion gigabytes. For comparison, data consumption in 2024 was 2.5 times higher than in 2022 (around 486 billion gigabytes).
Kinshasa and Haut-Katanga remain the main hubs for subscriptions, but the two Kivus (North and South) are emerging as markets to watch, with 5.8 million subscribers by the end of 2024, making the region second only to Kinshasa.
Market shares among operators vary. Vodacom RDC leads in active subscribers (over 90 days) with a 37.78% share, followed by Orange (29.97%), Airtel (29.33%), and Africell (2.92%). However, Airtel dominates Internet revenues, bringing in $365.5 million (37.7%), ahead of Orange (31.5%), Vodacom (27%), and Africell (3.8%). Airtel has held this leading position since 2021.
The DRC’s mobile Internet market still has significant growth potential. The GSMA forecasts 15 million additional subscribers by 2030, underscoring the sector’s role as a key growth driver for telecom operators and justifying recent efforts to expand coverage and enhance competitiveness
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
The Kibali mine in Haut-Uélé province, Democratic Republic of Congo (DRC), produced 141,000 ounces (4,384.6 kg) of gold in the first quarter of 2025, according to Barrick Mining’s quarterly report published on May 7. The output dropped 16% year-on-year and 20.3% compared to Q4 2024.
Barrick expects an output of 688,000–755,000 ounces this year. However, first-quarter results fall short of the quarterly average needed to meet this goal, estimated at 172,000 to 188,750 ounces. The company points to "higher grades for later in the year, mainly thanks to underground mining," but does not specify if this will be enough to meet annual targets.
In 2024, due to lower gold grades, Kibali delivered 688,000 ounces, 10% less than in 2023. Despite the decline, the mine’s contribution to Barrick’s sales rose by 30% to $316 million. Factoring in Barrick’s 45% stake, Kibali’s total sales are estimated at $702.2 million.
This revenue boost is attributed to the ongoing surge in gold prices. On April 22, the spot price of gold surpassed $3,500 an ounce for the first time, driven by Sino-American trade tensions and disputes between President Donald Trump and the Federal Reserve. JP Morgan, in a note published at the end of April, projected that gold prices could exceed $4,000 an ounce by 2026.
This article was initially published in French by Pierre Mukoko
Edited in English by Ola Schad Akinocho