Protection of eclectic investments in DR Congo will now be ensured under a memorandum of understanding for a partnership signed by the Congolese Minister of Finance, Nicolas Kazadi, and the director general of the Arab Bank for the economic development of Africa (BADEA), Sidi Ould Tah, last weekend in Kinshasa.
This signature comes after the approval of the memorandum of understanding in the Congolese parliament by a ratification law. A memorandum of understanding that should help strengthen the bilateral partnership between the two parties and pave the way for increased mobilization of public revenue in the DRC.
This partnership, which dates back to 1975, only concerned public investments. Over time, in accordance with BADEA’s ten-year strategy for 2030, investments have also been extended to the private sector for greater efficiency.
The memorandum of understanding should serve as a legal framework for the multiple operations of BADEA, which has become a historical and strategic partner of the DRC for having extended investments to the private sector. This is an innovation that will increase the chances of success despite difficult ups and downs, the determining reasons for which remain epidemics and the security situation, particularly in the eastern part of the DRC, according to the signatories.
As a reminder, BADEA’s investments in the DRC are estimated at USD 1 billion and concern various sectors: mining, energy (water and electricity), and processing industries in particular.