Tag: Democratic Republic of Congo

East African Business Council CEO on what makes the DRC attractive to investors

Often referred to as the 'Giant of Africa', the Democratic Republic of Congo presents a huge trade opportunity. So far, almost half of the trade between the DRC and the East African Community (EAC) is informal and opportunities are hindered by the high cost of doing business due to the prevalence of non-tariff barriers, implying that the potential for trade hasn’t been optimized. Peter Mathuki, The Executive Director and CEO of the East African Business Council spoke with CNBC Africa on the market potential and opportunities for SMEs in the region.

COVID-19: How the pandemic has impacted the DRC’s growth outlook

The Democratic Republic of Congo lifted the nationwide state of emergency that was declared in March to curb the spread of COVID-19, after seeing a slowdown in the number of new infections and deaths. The pandemic is expected to trigger an economic recession, projected at negative 2.2 per cent in 2020, stemming from weaker exports caused by the global economic downturn. Economic Analyst, Al Kitenge joins CNBC Africa for more.

DRC to suspend value added tax exemption for mining imports

In an effort to bolster the country's revenue, the Democratic Republic of Congo is suspending the value-added tax exemption on imports by mining companies. Congo, Africa’s top copper producer, had exempted mining companies from paying VAT on imports since 2016 to help them during a commodity price downturn. Yves Kabongo, Vice Chairman at Makutano Foundation joins CNBC Africa for more.

Why wind and solar would offer the DRC and South Africa better energy deals than Inga 3

Seven years ago the Democratic Republic of Congo (DRC) proposed the Inga 3 – a 4.8GW hydropower project on the Congo River – with great fanfare. Third in a series of...

Congo central bank keeps 2020 economic growth forecast at -2.4%

(Reuters) - The Democratic Republic of Congo’s central bank kept its 2020 economic growth forecast unchanged at -2.4% because of the uncertainty over the COVID-19 pandemic. “This...

DRC faces triple threat of coronavirus, Ebola & measles

The Ministry of Health of the Democratic Republic of Congo officially declared the eleventh Ebola outbreak in the country on the first of June this year. This means that the DRC is now fighting to curtail the spread of three major health outbreaks – the Ebola Virus Disease, Measles and the COVID-19 pandemic simultaneously. Niniola Williams, Managing Director of Drasa Health Trust joins CNBC Africa more.

Coronavirus – Democratic Republic of Congo: UAE sends medical aid to Congo in fight against COVID-19

Download logoThe UAE today sent an aid plane carrying six metric tons of medical supplies to the Democratic Republic of Congo. The aid will assist approximately 6,000 medical professionals as they work to combat the COVID-19 pandemic. Commenting on the aid delivery, Hazza Mohammed Al Qahtani, UAE Ambassador to Rwanda, remarked, "The provision of aid today by the UAE underscores our deep partnership with the Congo, which forms a significant part of the fight against COVID-19 in Africa." "Cou

Coronavirus – Africa: International Federation of Red Cross (IFRC) Information bulletin – Multiple disasters and hazards

Download logoThis bulletin is being issued for information only and reflects the current situation and details available at this time. Respective National Societies, with the support of the International Federation of Red Cross and Red Crescent Societies (IFRC), are working to respond to each of these disasters through different means. Some have DREFs or Emergency Appeals launched, and others may require additional support in the future. Download Report: https://bit.ly/2A0Ttkw The situatio