News and Events
- World Bank mobilizes to boost agricultural sector in DRC (6/4/2018) Posted in: Local news
Food security in the Democratic Republic of Congo was at the heart of a forum held in Kinshasa
During these meetings held on May 18 at Kempinski Hotel River Congo, participants were profiled by the results of a study conducted in the agricultural sector by the World Bank in 2017. Condensed in the Review of the Agricultural Sector (RSA) These results were presented to a group of Government members and actors working in the field of agriculture, with a view to finding solutions to the crisis.
In a crowded room, a team from the World Bank came to present the analytical work of a study prepared by its experts in the field of agriculture. The occasion was favorable to present the Review of the agricultural sector in the DRC and the different trends recorded in this sector on the African continent … read more …
- The new telecoms law aims to boost this sector (6/4/2018) Posted in: Local news
End of the OCPT monopoly
The National Representation adopted in the plenary session of May 7th, the draft law on telecommunications and information and communication technologies. This text aims to make this sector a growth promoter.
The explanatory memorandum of this law reveals that telecommunications and information and communication technologies, a field of commercial and technical activities presenting a number of economic, social, human and security issues, are in rapid development in the DRC. This development requires an adaptation of the legislation in force to the new deal … read more …
- World Bank to support DRC in energy and mining sectors (4/22/2018) Posted in: Local news
Outcomes of Minister Henri Yav’s mission to Washington
The good work done by the Congolese government, in a particularly difficult and constraining context, has not gone unnoticed. In Washington, Finance Minister Henri Yav Mulang was doubly congratulated by the International Monetary Fund (IMF) and the World Bank (WB) for bilateral meetings with each of these Bretton Woods institutions. With WB executives, for example, Henri Yav reviewed the portfolio of projects valued today at $ 3.8 billion spread over 24 projects that affect the health, infrastructure, education, and health sectors. energy.
These exchanges show that the IMF and the WB will be alongside the DRC in helping to consolidate its macroeconomic framework … read more …
- Congo’s Central Bank cuts its guideline interest rate to 14% (4/22/2018) Posted in: Local news
BCC urges entrepreneurs to use bank loans
Positive signals are now perceptible in the sky of the Central Bank of Congo (BCC). Boosted by the new wind blowing after the international financial crisis, the monetary authority of the DRC has decided to lower its key rate from 20% to 14%, reveals the Congolese News Agency. One way to encourage entrepreneurs to use bank loans.
The drop of 20% to 14% decided by the BCC reduces the rate to the level of June of last year. For, say, in two years, the key rate has increased three times, from 2% to 20%.The declining rate is a big indicator of a country’s economy. This boosts economic growth by giving investors confidence. As a consequence, commercial banks will, in turn, have to lower their key interest rate and encourage the use of bank loans for investments … read more …
- DRC participates in the annual investment meeting at DUBAI (4/11/2018) Posted in: Local news
The Minister in charge of the Plan, Professor Modeste Bahati Lukwebo at the head of the DRC delegation
His Excellency the Minister of State, Minister in charge of the Plan, Professor Modeste Bahati Lukwebo, arrived this April 09, 2018, in Dubai where he takes part in the annual conference of the investments (AIM), a world event which is held every year in Dubai in the United Arab Emirates.
The Minister of State is accompanied by a strong delegation of business leaders and public officials as well as the Director General of ANAPI, Mr. Anthony NKINZO Kamole, to present the multiple investment opportunities offered by the Republic. Democratic Congo to investors and present the country as a better investment destination … read more …
- Flydubai will connect Dubai to Kinshasa (4/10/2018) Posted in: General news
Flydubaï launches Kinshasa-Dubai line on April 15, 2018
The low-cost airline Flydubai will launch a new Dubai-Kinshasa route in the spring, becoming the first carrier of the United Arab Emirates to serve the Democratic Republic of Congo.
From April 15, 2018, the emirati flight specialist will offer a daily flight between its base in Dubai International and Kinshasa-N’djili airport, operated by Boeing 737-800 for 12 passengers in business class and 162 in economy … read more …
- Hydroelectric project between DRC and Angola (4/10/2018) Posted in: Local news
Luapula river hydroelectric project signature
DRC and Angola sign MoU in Kinshasa
The Congolese Minister of Energy and Hydraulic Resources, Jean-Marie Ingele Ifoto and his Zambian counterpart, Matthew Nkhuwe, signed yesterday Thursday, April 5 in Kinshasa, the memorandum of understanding for the extension of the project of hydroelectric development of the river Luapula and construction of the Kolwezi-Solwezi interconnection line … read more …
- PetroYuan Futures Open (4/9/2018) Posted in: General news
Over 10 BillIon Notional Trades In First Hour
After all the preparation, all the expectation, cheerleading and doomsaying, China’s Yuan-denominated crude oil futures contract began trading tonight and appears to be off a good start with well over 10 billion yuan notional traded within the first hour.
So far it has tracked WTI futures well, trading at around a $2 premium to WTI (when translated from yuan to USD) … read more …
- Samsung plans to massively buy DRC Cobalt (3/30/2018) Posted in: Local news
Samsung negotiates multi-year deal with DR Congo SOMIKA SPRL.
Samsung C & T Corp., a subsidiary of the world’s largest smartphone maker, is negotiating a multi-year deal to buy cobalt from a Congolese rd miner, joining Apple Inc. in the global race to ensure the supply of metal at the heart of the electric car boom, according to information from the Bloomberg news agency.
Samsung C & T approached Somika SPRL to buy cobalt from its Kisanfu mine in the Democratic Republic of Congo after buying copper from the same company in the last four years, according to sources close to the situation reported by the American Bloomberg. “It’s not clear how much cobalt will be bought and Samsung still has to test shipping costs and potential users,” said one of the agency’s informants on condition of anonymity … read more …
- New laws on subcontracting in the mining sector (3/30/2018) Posted in: Local news
Kolwezi, materialization of the law on subcontracting: the Minister of SMEs launches the work on the measures of application.
It is from the city of Kolwezi in the province of Lualaba, a mining province par excellence, that the Minister of Small and Medium Enterprises (SMEs) launched Thursday, March 15 the work of the Steering Committee of the program of extension and implementation. implementation of the law on subcontracting.
The choice of Kolwezi in former Katanga was not random. It is the hub of the mining industry. Strong symbol, the Minister of SMEs wants to materialize the access of Congolese SMEs to the mining subcontracting … read more …