The Central Bank of Congo (BCC) has released its economic report for the second week of December 2024, highlighting diverse trends in the prices of major commodities as of December 12, 2024. Performance of Key Commodities International Food Commodity TrendsGlobal food prices generally trended downward: Economic InsightsThe BCC report underscoresContinue Reading
China Non-Ferrous Metal Company has reinforced its dedication to empowering local communities, setting a transformative example through its operations in Zambia. Robert Kamanga, Deputy Chief Executive Officer of Shaft 28 Technical, unveiled remarkable progress in the dewatering process at the Shaft 28 Mine, a project energized by a game-changing $100Continue Reading
DRC Faces $164 Million Budget Deficit Amid Rising Public Expenditures The Democratic Republic of Congo (DRC) is grappling with a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). This financial shortfallContinue Reading
Zambia and DRC Sign Milestone Agreement to Boost Trade and Infrastructure Zambia and the Democratic Republic of Congo (DRC) have sealed an agreement to construct a 145-kilometer road linking Kolwezi in the DRC to Lumwana in Zambia, through the Kambimba-Sakabinda border. This transformative project, finalized in Kolwezi, Lualaba Province, aimsContinue Reading
The Government of the Democratic Republic of Congo (DRC) raised $65.57 million through a local Treasury Bond auction held on November 19, 2024, as announced by Minister of Finance, Doudou Fwamba. The auction, which attracted six bidders, including banks and credit companies, saw a coverage rate of 65.57%, falling shortContinue Reading
Congolese Gold Prices Rise Slightly Amid Global Market Sensitivities During the week of November 11 to 16, 2024, the price of gold in the Democratic Republic of Congo (DRC) experienced a modest increase of 0.07%, climbing to $88.72 per gram from $88.66 the previous week, according to a report byContinue Reading
Carter Center Report Exposes Weak Social Commitments by DRC Mining Companies A November 2024 report by the Carter Center, White Paper on the Specifications of Mining Companies in the DRC, has unveiled major deficiencies in the social and sustainable development commitments of mining companies operating in the Democratic Republic ofContinue Reading
Carter Center Report Reveals Gaps in DRC Mining Companies’ Social Responsibility Commitments A recent study by the Carter Center, published in November 2024, titled White Paper on the Specifications of Mining Companies in the DRC, highlights significant shortcomings in mining companies’ efforts to meet their social responsibility commitments, particularly regardingContinue Reading
The Economic Situation Committee in the Democratic Republic of Congo (DRC) is actively working to ensure price stability, closely monitor the foreign exchange market, and strengthen public financial management. During a meeting held on November 6, 2024, Deputy Prime Minister and Minister of National Economy Daniel Mukoko Samba highlighted signsContinue Reading
Price volatility in copper, cobalt, gold, and oil could threaten the DRC’s 2025 Finance Law, currently under parliamentary review. Draft law document 8 indicates that fluctuations in global commodity prices may disrupt the budget, as mining and hydrocarbons comprise nearly all of the DRC’s exports. Between 2019 and 2023, copper,Continue Reading
