Tag: DRC

Congo central bank raises 2020 GDP forecast to -1.7%

(Reuters) - Democratic Republic of Congo’s central bank said on Monday it expected the economy to contract -1.7% in 2020, improving on an earlier forecast of a -2.4% contraction due...

Congo’s central bank makes huge rate hike to 18.5%

DAKAR (Reuters) - The central bank of Democratic Republic of Congo has raised the main interest rate to 18.5% from 7.5%, central bank official Plante Kibadhi said on Saturday.

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.

Congo justice minister resigns after judicial reform dispute

KINSHASA (Reuters) - The Democratic Republic of Congo’s Justice Minister Celestin Tunda tendered his resignation on Saturday in the wake of a dispute with the president over proposed laws that...

Congo mines minister to meet with firms on confinement moratorium

“Coronavirus has dealt a fatal blow to mining activities, with the impossibility of repatriating capital, importations of products for the industry coming to a halt, the dizzying drop in metals prices on global markets in March,” he said.

The Congo chocolate factory hits the sweet spot making money in its African melting pot

“People have that ignorance of looking at chocolate like it’s something from abroad, that can’t be made in Africa,” Kalinda said, stirring the pot. “We decided to break that rule.”

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.