• Talks to have Kabila stepping down fail

    24 Dec 2016
    Joseph Kabila refuses to leave office

    Hopes of a deal to end the Democratic Republic of Congo’s dangerous political crisis before Christmas were faltering in the early hours of this morning after fruitless all-night talks over President Joseph Kabila’s refusal to quit power.

    Kabila’s second and final five-year term ended on December 20, but he has shown no intention of leaving office soon, sparking violent protests that have left at least 40 people dead this week, according to the United Nations. The influential Catholic Church has been brokering talks between the government and opposition and hopes rose this week of an imminent deal, with a draft seen by AFP outlining plans for fresh elections at the end of next year, when Kabila would step down. But that optimism has be…

  • Korongo Airlines gives up

    11 Sep 2015
    Korongo Airlines (DRC) closes its doors

    One of several small domestic airlines in Democratic Republic of Congo shuts down its operations today, blaming poor operating conditions and the government’s decision to create its own airline. Korongo Airlines, owned by Brussels Airlines and the Belgium-based Forrest Group, said it has struggled to make money and a decision had been taken to dissolve the company. It began flying in 2012 but has only one aircraft, a Boeing 737 which was damaged two weeks ago due to a maintenance problem on the runway in the central city of Mbuji Mayi, it said in a statement.

    Air travel in Congo is dogged by lax safety standards, high ticket prices and poor service. All internal carriers are banned from operating inside the European Union for safety …

  • Insect Farming possible Key to fight Hunger

    26 Jul 2015
    Insect Food becomes Popular

    There is no shortage of protein in Kinshasa’s Gambela Market, from cows to antelope and snakes. But it is the blue and silver bowls brimming with twitching crickets, termites and slithering mealworms that do the briskest trade. Experts hope that the love of edible insects in Democratic Republic of Congo may hold the key to tackling widespread hunger among its roughly 65 million people by scaling up a millennia-old consumption habit.

    Six-and-a-half million people live in food insecurity in the giant central African country, according to the World Food Programme (WFP), largely due to low agricultural productivity and persistent violence in its volatile east. Edible insects, which are just starting to win acceptance in the West, have lon…

  • Insect Farming to beat Hunger ?

    18 Jul 2015
    Insect Sushi

    There is no shortage of protein in Kinshasa’s Gambela Market, from cows to antelope and snakes. But it is the blue and silver bowls brimming with twitching crickets, termites and slithering mealworms that do the briskest trade. Experts hope that the love of edible insects in Democratic Republic of Congo may hold the key to tackling widespread hunger among its roughly 65 million people by scaling up a millennia-old consumption habit.

    Six-and-a-half million people live in food insecurity in the giant central African country, according to the World Food Programme (WFP), largely due to low agricultural productivity and persistent violence in its volatile east. Edible insects, which are just starting to win acceptance in the West, have lon…

  • Massive Rise in Copper and Gold Production

    12 May 2015
    Copper Mine in DRC

    Copper and gold production in the Democratic Republic of Congo rose sharply in the first quarter of 2015, despite continuing uncertainty about a proposed revision of the mining code.

    Congo, which vies with Zambia to be Africa’s leading copper producer, mined 279 573 tons of the metal during the quarter, according to the central bank’s March statistical bulletin. That was up 13.7% from 245 868 tons over the same period in 2014. Gold production jumped to 8 457kg in the first quarter of 2015 from 4 972kg over the same period last year… a 70% rise. Large new gold mines opened by companies like Randgold Resources, AngloGold Ashanti and Banro Corporation in the last four years have boosted Congo’s industrial gold output from near zero in …

  • Proposed Mining Tax Hike will endanger Investment

    21 Apr 2015
    Gold Mining in the DRC

    Any increase by the Democratic Republic of Congo in the taxes it levies on mining will stifle new investment in the mineral-rich African country, gold miner Randgold Resources’ chief executive said. Congo’s draft mining code – which proposes to raise corporate taxes to 35% from 30% and introduce a new 50% windfall tax – is an effort by the government to boost revenue from an industry that has been the main driver of GDP growth. “All those (proposals) really hurt, to a point where a standard gold mine doesn’t make a return for the investors so no one will invest,” CEO Mark Bristow told Reuters by phone, while on his way to Congo to lobby the government to roll back the proposal.

    Randgold operates the US$ 2.5bn Kibali gold mine in the c…

  • European Investment Funds bail out Plantation and save Jobs

    14 Nov 2014
    Palm Oil Plantation in Boteka, DRC

    Development funds from European governments have helped to rescue a Canadian company that pays workers as little as $1 per day to toil on some of Africa’s largest palm oil plantations in the impoverished Democratic Republic of Congo (DRC). Government-backed investment funds from Britain, France and Spain, designed to help poor countries develop, stepped in to buy 60% of Toronto-listed Feronia for about $35m in two separate investments in 2012 and 2013. The investments came after shareholders fled the Cayman Islands-registered company as its share price fell about 95%.

    Officials at the government-backed funds say this is an investment in African agriculture over the long-term, creating jobs in one of the world’s poorest and most unstab…

  • UN promotes Private Investments in DRC

    28 Oct 2014
    DRC - New Economic Heart of Africa?

    The UN envoy to the Democratic Republic of Congo called on Monday for a major injection of private investment to shore up peace and turn the country into “the economic heart of Africa.” “It is time for Congo’s money abroad to come home and for that money, and more, to be invested in the DRC,” said Martin Kobler, the head of the UN mission in the DRC. Kobler told the Security Council that the country now had a stable currency and had brought inflation under control, but that more than 70% of its people remained among the world’s poorest. “It is time to move from a war economy to a peace economy. It is time to see illegal exploitation turned into legitimate trade. It is time to move from excessive wealth for a few, to sufficiency for all.”…

  • South Africa to buy 2.5 GW from Hydro Plant

    22 Aug 2014
    Hydro Power from the Congo River

    It figures: the confidence of South Africa into generating enough electricity through its “White Elephants” Medupi and Kusile seems at its absolute low. After wasting billions in tax-payers money the South African cabinet has now approved the ratification of the Grand Inga Treaty with the Democratic Republic of Congo, Minister in the Presidency Jeff Radebe confirmed. This treaty will see South Africa buy over half of the power generated by the first phase of the world’s biggest hydroelectric project, aimed at generating 40 Gigawatt of power on the Congo River.

    “The project has the potential to supply clean and affordable, imported hydroelectric power to meet the needs of the DRC, South Africa, and surrounding countries,” Radebe told j…

  • Significant Oil Reserves found

    08 Aug 2014
    Lake Albert Oil Reserves

    An oil company owned by Israeli billionaire Dan Gertler said yesterday it had discovered around 3 billion barrels of oil in the Democratic Republic of Congo, an amount similar to the proven reserves of oil producers Britain and South Sudan. The crude was discovered around Lake Albert on Congo’s eastern border with Uganda, Oil of DRCongo said in a statement.

    An analysis of seismic survey data “indicates around 3 billion barrels of oil in place”, it said, although it was not yet clear what portion was recoverable. “These are very positive results from our extensive seismic campaign,” said Giuseppe Ciccarelli, Oil of DRCongo’s CEO. "We continue to believe the project has the potential to provide significant revenues and multiple other be…