News (207)
The Democratic Republic of Congo (DRC) will finance the 64 MW Katende dam project alone. This was announced on December 20, in Kinshasa, during the 27th Council of Ministers.
The government decided to self-finance the project due to a stalemate over funding from India's Exim Bank. "The Democratic Republic of Congo, having found that the financing option with funds from Exim Bank of India does not allow it to restart in the immediate future and complete within a reasonable time this project, financing from the country's own funds was identified, after several exchanges within the government, as the best option. This is because its advantages are better adapted and more flexible than procedures linked to loan agreements," states the minutes from the Council of Ministers.
However, the Katende project is not included in the government’s public investment program for 2025-2027. Additionally, no timeline has been announced for when work will resume.
The project’s cost was originally estimated at $280 million, with funding split between $168 million from India and the remainder from the DRC. After years of negotiations, India announced in June 2023 that it would open a $180 million credit line to support the project. However, only a portion of these funds has been released thus far.
To ensure timely debt repayment for this project, the DRC plans to make the first 16 megawatts of power available within 24 months to serve Kananga, Mbuji-Mayi, and Tshimbulu. "At the time of execution of phases 2 (32 MW) and 3 (16 MW), the operation of the 16 megawatts of phase 1 will generate revenues to service the debt, taking into account the two-year grace period granted by the lenders," according to government statements.
First announced in 1960, the Katende Dam project recorded several interruptions. The project includes building a 130 km power line between Kananga and Mbuji-Mayi, and a 30 km line connecting Kananga to Bukonde. Work began in 2011 under the Indian company LPCC but was suspended in 2015 following a decision by New Delhi. An audit in 2021 revealed that only 55% of civil works were completed and that while 75% of electrical equipment had been acquired, much of it might not be usable. Some materials have been damaged or stripped of components while stored across various towns in the country, complicating any potential resumption of work.
The planned resumption is expected to create thousands of jobs, stimulate economic activity, and improve living conditions for residents in Kasai through increased access to electricity.
This article was initially published in French by Olivier de Souza
Edited in English by Ola Schad Akinocho
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The Congolese Ministry of Agriculture (DR Congo) will provide farmers 1,062 tractors by the end of March 2025. In a recent press conference, Agriculture Minister, Grégoire Mutshail Mutomb, said the project would make farmers’ work easier, women’s especially, and help boost the country’s overall agricultural output.
"Our agriculture is at the bottom of the scale; some women still use hoes. We have distributed 260,000 hoes nationwide and are thinking about the mechanization of agriculture in our country," said Mutshail, quoted by Agence Congolaise de Presse. Further details on the project, such as the equipment supplier or final beneficiaries, are yet to be provided.
Greater Mechanization
This last announcement adds to two more unveiled this year, related to agricultural mechanization. In his annual address to the nation, President Tshisekedi said various equipment was being distributed, including 350 tractors. In July, Equity BCDC, a subsidiary of Kenyan group Equity Holdings, signed an agreement with dealer Congo Motors to enable farmers to acquire tractors on a leasing basis.
In line with its ambition to diversify the Congolese economy, the DRC government has chosen agriculture as a target sector, mainly because the supply of essential products, like maize, fails to meet the existing demand. There is no consolidated record of previous efforts to provide agricultural machinery, making it challenging to assess their impact on productivity.
In addition to mechanization, the sector suffers from chronic isolation. A study by the United Nations Development Program (UNDP) on local development plans for 145 territories revealed that only about 20% of the population mostly farmers have access to passable roads. The authorities also plan to improve 38,000 kilometers of agricultural feeder roads.
The increased mechanization could generate at least 4,240 jobs in the country since each agricultural machine requires an operator, a maintenance manager, a spare parts supplier, and an administrative and financial manager to coordinate operations.
A Well-Supported Vision
Private players are also getting involved in harnessing green resources. In October 2024, a $1 billion project led by the Mole Group, based in Switzerland, and headed by a Congolese native, was announced. According to the Minister of Agriculture, this and other projects will be structured as public-private partnerships.
Several donors are also active in the sector, including the African Development Bank, which plans to create over 50,000 jobs in agriculture. With Africa's largest area of arable land, the DRC aims not only for self-sufficiency but also to enhance its status as an exporter of agricultural products by diversifying beyond cocoa and coffee into crops such as soybeans and chilies.
Rome Resources, a mining firm specializing in tin exploration in the Democratic Republic of Congo (DRC), has successfully raised £4.2 million from Stanvic Mining to expand drilling and enhance exploration at its Bisie North project in North Kivu.
The AIM-listed firm will use the money to extend drilling through 2025, conduct geophysical and geochemical exploration—including optimal site mapping—and strengthen the company's balance sheet.
"This strategic investment demonstrates the recognition of the Bisie North project in the DRC. It will enable us to continue drilling and accelerate work to create value for our shareholders," said Paul Barrett, CEO of Rome Resources.
The Bisie North project is well-positioned amid a favorable market, with global tin prices surging 34% in 2024 to reach $33,810 per tonne in October due to limited supply.
In the DRC, Alphamin Resources, the leading producer, reported a 28% increase in production during the first nine months of 2024, totaling 12,087 tonnes. Rising average prices—from $26,557 to $31,757 per tonne—have bolstered revenues, with Alphamin forecasting production between 17,000 and 18,000 tonnes for the year.
Rome Resources aims to become a key player in the tin market, having recorded tin grades of up to 7.12% in recent drilling. The success of its project could help elevate the DRC's status in the global tin market, particularly as demand grows due to its use in electronics and renewable energy.
In 2023, the DRC ranked fifth among the world's largest tin producers with an output of 19,000 tonnes, trailing behind China (68,000 tonnes), Myanmar (54,000 tonnes), Indonesia (52,000 tonnes), and Peru (23,000 tonnes).
This article was initially published in French by Olivier de Souza
Edited in English by Ola S. Akinocho
Les Sucreries du Kivu, a sugar factory in the Democratic Republic of Congo (DRC), has resumed operations after 26 years of inactivity. In a recent statement, the Congolese Ministry of Industry informed that the project cost $5.85 million to resurrect, including $3 million in loans and subsidies. The same source predicts the plant’s official commission in the coming weeks.
The factory, now called SUKI, is already running and has produced its first bags of sugar. Also, the revival helped generate 1,400 direct jobs, out of 3,000 targeted.
The money spent on the project helped expand cultivated areas to 700 hectares.
Reviving Les Sucreries du Kivu is part of the government’s broader strategy to boost economic activities in the unsafe parts of the country, where extremists and warmongers have been recruiting young people. The revival project also aims to reinforce the DRC’s economic sovereignty by cutting sugar imports, from Rwanda and Tanzania especially.
However, the government's sugar strategy has yet to be defined. Several successive decisions have prohibited the import of this commodity in a market where supply is lower than demand. Since its establishment in 1975, SUKI has gone through several phases, including periods of bankruptcy. It also welcomed key private shareholders, including Tanzania’s Kagera Sugar.
This article was initially published in French by Georges Auréole Bamba
Edited in English by Ola Schad Akinocho
The DR Congo government should promulgate its new agricultural and seed laws before the end of May 2025. President Félix Tshisekedi disclosed the timeframe in his State of the Nation address to Parliament on December 11, 2024. The laws will be accompanied by other measures to bolster agricultural governance in the country.
The additional measures will include an agricultural cadastre, land use plans, and a complete database of all stakeholders in the agricultural sector.
While no specific timeline for parliamentary adoption has been provided, observers are optimistic that these laws could improve the business environment for current and potential investors.
For years, stakeholders have criticized Article 16 of the 2011 Agricultural Law, which mandates that 51% of shares in commercial agricultural enterprises be held by nationals, against 49% by foreign investors. According to the World Bank, this measure could deter foreign investment in the agro-industrial sector.
The forthcoming seed law would be a major milestone in developing the DRC’s seed industry. Last October, the government announced plans to spend around $18 million to build a seed analysis laboratory and/or set up a national seed service by 2026.
This article was initially published in French by Espoir Olodo
Edited in English by Ola S. Akinocho
Jean-Lucien Bussa, Portfolio Minister of the Democratic Republic of Congo (DRC) accused Kamoa Copper of selling its copper concentrate output below market prices. Kamoa Copper operates the country’s largest copper mine, Kamoa-Kakula. The official stated this in Kinshasa, during the General Assembly of State Companies, held from December 9 to 14.
According to Agence Congolaise de Presse, which reported Minister Bussa’s claims, Kamoa Copper sells below market prices due to the dominant position of one of the buyers, Zijin Mining Group. Indeed, Zijin Mining Group owns 39.6% of Kamoa Copper, alongside Ivanhoe Mines (39.6%), Crystal River (0.8%), and the Congolese State (20%). Zijin is also one of Ivanhoe’s top shareholders.
Zijin Mining buys the Kamoa-Kakula copper through a subsidiary, Gold Mountains (H.K.) International Mining Company Limited. The other firm buying copper concentrate from this project is CITIC Metal (HK). This was known via a communiqué issued in June 2021. According to this source, the two Hong Kong-based companies buy the production of the first concentrator set up at Kamoa-Kakula. Since June 21, no details filtered regarding new buyers. Meanwhile, two more concentrators have been commissioned over the period.
Although the price of copper concentrate cannot be directly compared to pure copper prices on the global market, the year-on-year percentage increase raises concerns, particularly given that copper prices have surged more significantly this year. After remaining below $9,000 per tonne throughout 2023 and the first two months of 2024, copper prices soared to a record high of over $11,000 in May. Despite some corrections and fluctuations since then, copper continues to trade above the $9,000 mark.
The discrepancy between Kamoa Copper's concentrate pricing and market trends prompts scrutiny. While Ivanhoe Mines reported that Kamoa-Kakula generated $2.263 billion in revenue from 303,328 tonnes of copper concentrate at an average realized price of approximately $7,461 per tonne for the first nine months of 2024—up 7.8% from the previous year—this figure does not reflect the broader market dynamics.
Regarding Minister Bussa’s assertion about Kamoa selling below market prices, the official said the State would now get involved in the sales process: "From now on, the buyer selection process will be carried out with the involvement of the State shareholder. This will enable us to sell at the market price and optimize sales,” he declared.
The goal is to maximize the DRC's mining revenues and profits. However, Bussa did not specify what the State’s involvement would encompass and how they would proceed. For now, Kamoa Copper has not commented on the government’s accusations or its decision to get involved in sales operations.
This article was initially published in French by Louis-Nino Kansoun
Edited in English by Ola S. Akinocho
Air Congo has received its second plane, a Boeing 737-800 like the first. This falls under the airlines’ plan to acquire eight planes, including six within a year.
Air Congo flew its first flight on December 1, 2024. It is the second carrier owned by the Democratic Republic of Congo (DRC). The second, Congo Airways, is indebted and has low operational capacities.
Moreover, Congo Airways focuses on domestic transport while Air Congo flies internationally. It was established under a project aimed at connecting Kinshasa, the capital, to other cities, in Africa and the world.
The same project plans to set up a local flight school and Boeing-certified facilities offering maintenance, repair, and overhaul services.
Air Congo is 51% owned by the Congolese State. Ethiopian Airlines detains the remaining stake.
This article was initially published in French by Henoc Dossa (Ecofin Agency)
Edited in English by Ola S. Akinocho
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US-based Namib Minerals should soon complete its listing on the Nasdaq stock market, according to statement dated December 9, 2024. The listing is expected to grant the mining company full ownership of the mining and exploration assets of Greenstone, a private equity fund specializing in the mining sector.
The exploration assets include 13 licenses in the Haut-Katanga and Lualaba provinces of the Democratic Republic of Congo (DRC), where six initial drill holes have already been completed, indicating significant copper and cobalt potential. Namib Minerals aims to leverage its upcoming IPO to secure additional funding for exploration works.
The company's interest in the DRC emerges amidst a rising long-term demand for copper, driven by the energy transition. According to BHP, this transition should push up demand for copper by one million tonnes annually until 2035.
The DRC, the world's second-largest copper producer, holds substantial potential for new discoveries; by 2023, it accounted for 65% of the world's newly identified copper reserves.
Currently, Namib Minerals has not disclosed specific details about its exploration programs in the DRC. For now, the firm focuses on finalizing its merger with SPAC Hennessy Capital Investment Corp. VI. Under the deal these two firms sealed in June 2024, Namib will sell 30 million of its shares for $500 million. This transaction is expected to close in the first quarter of 2025, pending necessary approvals.
Namib Minerals' flagship assets include three gold mines in Zimbabwe. One of them has produced 1.8 million ounces from 1941 to 2023.
PM with Ecofin Agency
The Democratic Republic of Congo (DRC) spends $3 billion on food imports annually on average. President Félix Tshisekedi disclosed the figure in his State of the Nation address to Parliament on December 11, 2024.
DRC’s heavy reliance on foreign markets not only results in significant foreign currency losses but also leaves the country vulnerable to global commodity price fluctuations.
The massive imports also deprive local producers of a substantial share of the agri-food market, as the country underexploits its arable lands which span around 80 million hectares.
Several agri-food value chains remain undeveloped, awaiting investment to satisfy local demand and position the DRC as a key player in intra-regional trade.
Key sectors like cassava and corn significantly impact the rural economy and offer opportunities for value addition through processing. Additionally, rising consumption of animal products and fruits, driven by urbanization, presents major prospects for the livestock and horticultural sectors.
For instance, tomato consumption is increasing, with imports of juice, purée, and fresh fruit exceeding $12 million in 2022, according to FAO data.
Investment in irrigation could further leverage the DRC's abundant water resources, which include 900 million cubic meters of surface water and 420 million cubic meters of groundwater.
While awaiting greater private sector involvement, Tshisekedi emphasized the government's commitment to agricultural development. Under the 2024-2028 Action Program, over 200 agricultural enterprises have received exemptions for importing agricultural equipment, and farmers have benefited from 350 tractors this season.
The upcoming 2025 Finance Act is set to allocate more than 11% of total public spending to agriculture—a significant step toward fulfilling the DRC's commitment made in Maputo in 2003 to dedicate 10% of public expenditure to agriculture and achieve annual growth of 6%.
This article was initially published in French, by Espoir Olodo
Edited in English by Ola Schad Akinocho
DR Congo is buying a satellite using a $20 million facility secured from SICOMINES, a Sino-Congolese mining project. Gilbert Kabanda, Minister of Scientific Research and Technological Innovation, disclosed the news on Dec. 10, 2024, during a plenary session of the Senate.
"A commission has been set up to define the technical characteristics of this satellite, which will be an important step in strengthening our technological sovereignty and improving the management of our territory," Kabanda said, addressing some senators’ concerns. The purchase aligns with a strategy to modernize the country’s natural resource management tools and enhance its digital infrastructure.
In 2022, after revealing a project to buy a $100 million satellite, the Congolese government launched a call for tenders through the Ministry of Scientific Research. Concurrently, the Ministry of Posts, Telecommunications and New Information and Communication Technologies (PT-NTIC) signed an agreement with Monacosat, a satellite operator from Monaco, to provide satellite-based Internet connectivity.
With the new satellite, the DRC will modernize geographic infrastructures and safeguard strategic data in digital formats. The satellite will also facilitate territorial observation by identifying agricultural production zones, industrial basins, and transportation challenges due to inadequate road infrastructure. It will also help secure borders, monitor areas affected by natural disasters, combat illegal mining activities, and better protect the population against rebels.
This project reflects the DRC's commitment to leveraging technology for improved governance and resource management. The government's ongoing collaboration with international partners like Monacosat translates attests broader efforts to boost connectivity and tackle the country’s critical infrastructure deficits.
This article was initially published in French, by Samira Njoya, Ecofin Agency.
Edited in English by Ola Schad Akinocho
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On December 10, 2024, Gary Nagle, Glencore CEO, met with Félix-Antoine Tshisekedi, President of the Democratic Republic of Congo (DRC). The two men discussed Glencore's contributions to the Congolese economy. "We employ more than 17,000 people in the DRC and we have a community project worth more than US$100 million," Nagle said, as reported by the DRC presidency's communication services. He added that President Tshisekedi supported Glencore's initiatives and agreed on the importance of collaborating to improve the situation in the DRC while defending their respective interests.
While these are the only details disclosed from the meeting, the mention of mutual interest comes at a time when Kamoto Copper Company (KCC), a subsidiary of Glencore that is 75% owned by the group and 25% by Gécamines (the state-owned mining company), is facing a tax adjustment of approximately $895 million by the Tax Authority, the DGRAD. Earlier communications from Glencore indicated that DRC tax authorities contested KCC's declared sales and expenses, leading to customs claims for non-compliance. The Swiss company had noted ongoing discussions with tax authorities to defend its position, but no updates have been provided.
For Glencore, resolving this tax dispute is critical. Management has indicated that prolonged uncertainty or an unfavorable ruling could significantly impact the group's financial results for the current year. This situation is exacerbated by a reported decline in production levels at KCC's various sites, with copper production down by 18% and cobalt production down by 21% at the end of the third quarter of 2024.
The outcome of these discussions between Glencore and the DRC government may play a crucial role in addressing both the company's operational challenges and its ongoing commitments to local economic development.
This article was initially published in French, by Georges Auréole Bamba.
Edited in English by Ola Schad Akinocho
The European Investment Bank (EIB) will help Kinshasa address various issues, related to solid waste treatment, wastewater and stormwater management, climate change adaptation, and urban mobility. Svetla Stoeva, EIB Director in Central and Southern Africa, told the Congolese press on November 9, 2024. Stoeva met the media after discussing with Kinshasa Governor, Daniel Bumba Lubaki. He was with various EIB executives he had led in the Congolese capital.
According to the EIB executive, Kinshasa, which houses over 20 million people, faces significant challenges such as recurrent flooding often caused by blocked drains filled with solid waste and chronic traffic congestion that disrupts residents' quality of life and the national economy.
Commenting on how the institution plans to help address these issues, Stoeva said “The EIB considers several support avenues”. He added the institution offers low-rate loans.
The goal is to improve solid waste management and water treatment while integrating climate adaptation measures and enhancing traffic flow through improved urban infrastructure. Further consultations are planned to assess specific needs.
Corridors
EIB also considers supporting the transport sector, particularly in regional corridors like Lobito and Douala-Bangui-Kampala. These are vital for trade and multimodal transport in Central and East Africa.
The EIB delegation discussed this with Jean-Pierre Bemba, Deputy Prime Minister and Minister of Transport and Communications. The talks covered concessional loans’ potential to improve rail, road, and dry port infrastructures, ultimately boosting agricultural production and critical raw material value chains.
This is not the EIB's first commitment to urban development in Africa; similar projects in cities such as Abidjan, Cotonou, and Nairobi have significantly reduced sanitation and mobility issues. Kinshasa could leverage these experiences to maximize the impact of planned investments.
Overall, the EIB-Kinshasa partnership reflects joint efforts to tackle the city’s pressing urban challenges while fostering sustainable development through strategic investments in infrastructure and services.
This article was initially published in French, by Olivier de Souza.
Edited in English by Ola Schad Akinocho
President Félix Tshisekedi called for greater investment in local agriculture during last week’s Council of Ministers. According to the council’s report, the leader’s call stems from "the scale of the food and socio-economic challenges and the urgency of action."
The Democratic Republic of Congo (DRC) faces several challenges relative to agriculture; including growing demand for staple foods, the necessity to protect household purchasing power, and economic diversification. In this context, the government is committed to accelerating agricultural development, reducing imports of basic foodstuffs, and reinforcing food security throughout the country.
The 2024-2025 agricultural campaign kicked off on October 17, in Kinshasa. On this occasion, provincial governors received improved seeds, fertilizers, farming equipment, and rolling stock. The move aims to better support local farmers and help them increase their output.
“To address recurring shortages of essential agricultural products, like corn, the President has instructed the Minister of State for Agriculture, and his cabinet, to assess government interventions supporting the ongoing agricultural campaign and to effectively prepare for the upcoming season, which begins in a few weeks,” the Council reported.
Greater Coherence
To rationalize resource allocation for various agricultural projects and programs currently being developed or implemented, President Tshisekedi announced a high-level meeting for early 2025. This meeting will gather key stakeholders and development partners to ensure "the completion of reflection on the coherence of all agricultural initiatives carried out by various ministries and structures attached to the Presidency of the Republic, as well as other state services."
Agricultural policies and related initiatives, including building agricultural feeder roads, have been central to the new government's actions since taking office. The private sector is also actively involved in several initiatives, including a project by Swiss company Mole Group in Central Kongo, which aims to invest close to one billion dollars.
The African Development Bank has provided over $265 million to develop agricultural skills, alongside funding from the World Bank and Agence Française de Développement. In its priority investment program for 2025-2028, the government plans to allocate approximately $265 million towards research, improving agricultural production, and developing predominantly agricultural rural areas.
This comprehensive approach reflects a commitment to enhancing food security and promoting sustainable agricultural practices in the DRC while addressing pressing socio-economic challenges plaguing the Congolese people.
This article was initially published in French, by Georges Auréole Bamba.
Edited in English by Ola Schad Akinocho
The Congolese government has ordered four ferries to enhance its river transport services. Transport Minister Jean-Pierre Bemba announced the order last Wednesday, in an interview with the local channel Top Congo FM. He said the boats are being built, without indicating when they will be delivered.
"Four new boats will be coming out. They cost $250,000 each and can carry between 150, 180, and 300 people," Bemba said, stressing that the investment would be sustained, as the goal is to have a 100-boat fleet.
The purchase is part of recent government reforms to improve river transport and reduce the frequency of shipwrecks in the DR Congo. Indeed, shipwrecks have been on the rise in the country. The reasons include mainly using makeshift vessels, overloading, and the absence of stringent regulations.
The country’s river transport sector is officially managed by Société Congolaise des Transports et Ports (SCTP), also known as Office National des Transports (ONATRA). However, the sector is dominated by private operators, because the ONATRA has a small fleet.
Besides expanding the ferry fleet, the Ministry of Transport spearheads a crackdown on substandard boats–especially boats practicing overloading or with no passenger lifejackets. "There is also the dredging and beaconing of the Congo River that needs to be done," said Jean-Pierre Bemba, without providing further specifics.
Last September, the government inked a memorandum of understanding with China Harbour Engineering Company (CHEC) to modernize river transport. This agreement includes in-depth studies initiated in October to assess the necessary work for modernizing and developing this sector; however, it remains unclear whether current measures are directly influenced by these studies.
The initiative to enhance river transport comes amid ongoing challenges related to safety and infrastructure. The DRC has faced numerous incidents involving poorly maintained and overloaded vessels, leading to fatal accidents. The government's commitment to improving safety standards and expanding its fleet aims to address these pressing issues while facilitating better connectivity across its vast waterways.
This article was initially published in French, by Henoc Dossa (Ecofin Agency).
Edited by: Ola Schad Akinocho