Economy of the Democratic Republic of the Congo

Sparsely populated in relation to its area, the Democratic Republic of the Congo is home to a vast potential of natural resources and mineral wealth. Despite this, the economy has declined drastically since the mid-1980s.[6]

At the time of its independence in 1960, the Democratic Republic of the Congo was the second most industrialized country in Africa after South Africa. It boasted a thriving mining sector and its agriculture sector was relatively productive.[6] Since then, corruption, war and political instability have been a severe detriment to further growth, today leaving DRC with a GDP per capita among the world's lowest.

Despite this the DRC is quickly modernizing having tied with Malaysia for the largest positive change in HDI development in 2016. And projects which include strengthening the health system for maternal and child health, expansion of electricity access, water supply reconstructions, and urban and social rehabilitation programs.

Economy of Democratic Republic of Congo
Kinshasa downtown
Kinshasa, capital and economic center of the Democratic Republic of the Congo
CurrencyCongolese Franc (CDF)
Calendar Year
Trade organisations
AU, African Development Bank, SADC, World Bank, IMF, WTO, Group of 77
Statistics
GDPPPP: Increase$77.486 billion (2019 est.)[1]
Nominal: Increase$46.117 billion (2019 est.)[1]
GDP growth
6.9% (2015), 2.4% (2016),
3.4% (2017), 3.8% (2018), 4.1% (2019) [2]
GDP per capita
PPP: Increase$842[1] (2019 est.)
Nominal:Increase$501 (2019 est.)[1]
GDP by sector
agriculture (44.2%)
industry (22.6%)
services (33.1%) (2012 est.)
Decrease 23.0% (2018 est.)
Population below poverty line
70% (2011 est.)
Labour force
35.86 million (2012 est.)
Labour force by occupation
N/A
UnemploymentN/A
Main industries
mining (copper, cobalt, gold, diamonds, coltan, zinc, tin, tungsten), mineral processing, consumer products (including textiles, plastics, footwear, cigarettes, processed foods, beverages), metal products, lumber, cement, commercial ship repair
184th (2019)[3]
External
ExportsIncrease $8.872 billion (2012 est.)
Export goods
gold, diamonds, copper, cobalt, coltan, zinc, tin, tungsten, crude oil, wood products, coffee
Main export partners
 China 53.4%
 Zambia 24.5%
 Belgium 5.6% (2012 est.)[4]
ImportsIncrease $8.187 billion (2012 est.)
Import goods
machinery, transportation equipment, fuel, food
Main import partners
 South Africa 21.4%
 China 15.1%
 Belgium 7.9%
 Zambia 7.5%
 Zimbabwe 6.1%
 Kenya 5.1%
 France 4.9% (2012 est.)[5]
Increase $6.089 billion (31 December 2012 est.)
Public finances
Revenues$4.943 billion (2018 est.)
Expenses$5.198 billion (2018 est.)
Foreign reserves
Increase $1.633 billion (31 December 2012 est.)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

Economic implications of conflicts

The two recent conflicts (the First and Second Congo Wars), which began in 1996, have dramatically reduced national output and government revenue, have increased external debt, and have resulted in deaths of more than five million people from war, and associated famine and disease. Malnutrition affects approximately two thirds of the country's population.[7]

Agriculture is the mainstay of the economy, accounting for 57.9% of GDP in 1997. In 1996, agriculture employed 66% of the work force.

Rich in minerals, the Democratic Republic of the Congo has a difficult history of predatory mineral extraction, which has been at the heart of many struggles within the country for many decades, but particularly in the 1990s. The economy of the third largest country in Africa relies heavily on mining. However, much economic activity occurs in the informal sector and is not reflected in GDP data.[8]

In 2006 Transparency International ranked the Democratic Republic of the Congo 156 out of 163 countries in the Corruption Perception Index, tying Bangladesh, Chad, and Sudan with a 2.0 rating.[9] President Joseph Kabila established the Commission of Repression of Economic Crimes upon his ascension to power in 2001.[10]

The conflicts in the DRC were over water, minerals, and other resources. Political agendas have worsened the economy, as in times of crisis, the elite benefit while the general populace suffers. This is worsened as a result of corrupt national and international corporations. The corporations instigate and allow the fighting for resources because they benefit from it. A large proportion of fatalities in the country are attributed to a lack of basic services. The influx of refugees since the war in 1998 only serves to worsen the issue of poverty. Money of the taxpayers in the DRC is often misappropriated by the corrupt leaders of the country, who use the money to benefit themselves instead of the citizens of the DRC. The DRC is consistently rated the lowest on the UN Human Development Index.[11]

Economic history

Democratic Republic of the Congo GDP evolution-fr
Evolution of the DRC's GDP.

After Leopold

Forced labor was important for the rural sector. The corporations that dominated the economy were mostly owned by Belgium, but British capital also played an important role. The 1950s were a period of rising income and expectations. Congo was said to have the best public health system in Africa, but there was also a huge wealth disparity. Belgian companies favored workers in certain areas more and exported them to work in different areas, restricting opportunities for others. Favored groups also received better education and were able to secure jobs for people in the same ethnic group which increased tensions. In 1960 there were only 16 university graduates out of a population of 20 million. Belgium still had economic power and independence gave little opportunity for improvement. Common refrains included "no elite, no trouble" and "before independence = after independence". When the Belgians left, most of the government officials and educated residents left with them. Before independence there were just 3 out of 5000 government jobs held by Congolese people.[12] The resulting loss of institutional knowledge and human capital crippled the government.

2006Congo(Zaire) exports
Congolese exports in 2006.

Zaire

After the Congo crisis, Mobutu arose as the country's sole ruler and stabilized the country politically. Economically, however, the situation continued to decline, and by 1979, the purchasing power was only 4% of that from 1960.[13] Starting in 1976 the IMF provided stabilizing loans to the dictatorship. Much of the money was embezzled by Mobutu and his circle.[13] This was not a secret as the 1982 report by IMF's envoy Erwin Blumenthal documented. He stated, it is "alarmingly clear that the corruptive system in Zaire with all its wicked and ugly manifestations, its mismanagement and fraud will destroy all endeavors of international institutions, of friendly governments, and of the commercial banks towards recovery and rehabilitation of Zaire’s economy".[14] Blumenthal indicated that there was "no chance" that creditors would ever recover their loans. Yet the IMF and the World Bank continued to lend money that was either embezzled, stolen, or "wasted on elephant projects".[15] "Structural adjustment programmes" implemented as a condition of IMF loans cut support for health care, education, and infrastructure.[13]

1990s

International Bank for Reconstruction and Development (IBRD) Trust Fund for the Congo. Poor infrastructure, an uncertain legal framework, corruption, and lack of openness in government economic policy and financial operations remain a brake on investment and growth. A number of International Monetary Fund (IMF) and World Bank missions have met with the new government to help it develop a coherent economic plan but associated reforms are on hold.

Faced with continued currency depreciation, the government resorted to more drastic measures and in January 1999 banned the widespread use of U.S. dollars for all domestic commercial transactions, a position it later adjusted. The government has been unable to provide foreign exchange for economic transactions, while it has resorted to printing money to finance its expenditure. Growth was negative in 2000 because of the difficulty of meeting the conditions of international donors, continued low prices of key exports, and post-coup instability. Although depreciated, congolese francs have been stable for few years (Ndonda, 2014)

2000s

Conditions improved in late 2002 with the withdrawal of a large portion of the invading foreign troops. A number of IMF and World Bank missions have met with the government to help it develop a coherent economic plan, and President Kabila has begun implementing reforms.

Special Economic Zone

The DRC is embarking on the establishment of special economic zones (SEZ) to encourage the revival of its industry. The first SEZ was planned to come into being in 2012 in N'Sele, a commune of Kinshasa, and will focus on agro-industries. The Congolese authorities also planned to open another zone dedicated to mining (Katanga) and a third dedicated to cement (in the Bas-Congo).[16] There are three phases to the program that each have their own objectives. Phase I was the precursor to the actual investment in the Special Economic Zone where policymakers agreed to the framework, the framework was studied for its establishment, and to predict the potential market demand for the land. Stage one of Phase II involved submitting laws for the Special Economic Zone, finding good sites for businesses, and currently there is an effort to help the government attract foreign investment. Stage two of Phase II hasn't been started yet and it involves assisting the government in creating framework for the country, creating an overall plan for the site, figuring out what the environmental impact of the project will be, and guessing how much it will cost and what the return can be made on the investment. Phase III involves the World Bank creating a transaction phase that will keep everything competitive. The program is looking for options to hand over the program to the World Bank which could be very beneficial for the western part of the country.

Data

The following table shows the main economic indicators in 1980–2017.[17]

Year 1980 1985 1990 1995 2000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
GDP in $
(PPP)
19.62 bil. 27.16 bil. 31.58 bil. 24.37 bil. 20.34 bil. 27.55 bil. 29.90 bil. 32.61 bil. 35.33 bil. 36.62 bil. 39.70 bil. 43.30 bil. 47.22 bil. 52.05 bil. 58.01 bil. 62.70 bil. 65.02 bil. 68.45 bil.
GDP per capita in $
(PPP)
683 804 795 522 388 453 478 506 532 535 563 597 632 676 732 768 773 790
GDP growth
(real)
2.4 % 0.5 % −6.6 % 2.8 % −8.1 % 6.1 % 5.3 % 6.3 % 6.2 % 2.9 % 7.1 % 6.9 % 7.1 % 8.5 % 9.5 % 6.9 % 2.4 % 3.4 %
Inflation
(in Percent)
40.0 % 23.5 % 81.3 % 541.8 % 550.0 % 21.5 % 12.8 % 16.7 % 18.0 % 46.1 % 23.5 % 15.0 % 0.9 % 0.9 % 1.2 % 1.0 % 18.2 % 41.5 %
Unemployment rate
(in Percent)
... ... ... ... 135 % 101 % 104 % 87 % 74 % 85 % 31 % 25 % 23 % 20 % 18 % 16 % 17 % 16 %

Economic implications of instability

Ongoing conflicts dramatically reduced government revenue and increased external debt. As Reyntjens wrote, "Entrepreneurs of insecurity are engaged in extractive activities that would be impossible in a stable state environment. The criminalization context in which these activities occur offers avenues for considerable factional and personal enrichment through the trafficking of arms, illegal drugs, toxic products, mineral resources and dirty money." Ethnic rivalries were made worse because of economic interests and looting and coltan smuggling took place. Illegal monopolies formed in the country where they used forced labor for children to mine or work as soldiers. National parks were overrun with people looking to exploit minerals and resources. Increased poverty and hunger from the war and that increased the hunting of rare wildlife. Education was denied when the country was under foreign control and very few people make money off the minerals in the country. The national resources are not the root cause for the continued fighting in the region, however, the competition has become an incentive to keep fighting.[1] The DRC's level of economic freedom is one of the lowest in the world, putting it in the repressed category. The armed militias fight with the government in the eastern section of the country over the mining sector or the corruption of the government, and weak policies lead to the instability of the economy. Human rights abuses also ruin economic activity; the DRC has a 7% unemployment rate, but still has one of the lowest GDP's per capita in the world. A major problem for people trying to start their own companies is that the minimum amount of capital needed to launch the company is 5 times the average annual income, and prices are regulated by the government, which almost forces people to have to work for the larger, more corrupt businesses; otherwise, they won't have work. It is hard for the DRC to encourage foreign trade because of the regulatory barriers.[18]

International Relations

International Bank for Reconstruction and Development (IBRD) Trust Fund for the Congo. Poor infrastructure, an uncertain legal framework, corruption, and lack of openness in government economic policy and financial operations remain a brake on investment and growth. A number of International Monetary Fund (IMF) and World Bank missions have met with the new government to help it develop a coherent economic plan but associated reforms are on hold.

Faced with continued currency depreciation, the government resorted to more drastic measures and in January 1999 banned the widespread use of U.S. dollars for all domestic commercial transactions, a position it later adjusted. The government has been unable to provide foreign exchange for economic transactions, while it has resorted to printing money to finance its expenditure. Growth was negative in 2000 because of the difficulty of meeting the conditions of international donors, continued low prices of key exports, and post-coup instability. 125 companies in 2003 contributed to the conflict in DRC showing the corruption.

World Bank

With the help of the International Development Association the DRC has worked toward the reestablishment of social services. This is done by giving 15 million people access to basic health services and giving bed nets to prevent malaria from spreading to people. With the Emergency Demobilization and Reintegration Program more than 107,000 adults and 34,000 child soldiers stood down their militarized posture. The travel time from Lubumbashi to Kasomeno in Katanga went down from seven days to two hours because of the improved roads which led to the decrease of prices of main goods by 60%. With the help of the IFC, KfW, and the EU the DRC improved its businesses by reducing the time it took to create a business by 51%, reducing the time it took to get construction permits by 54%, and reducing the number of taxes from 118 to 30. Improvements in health have been noticeable specifically that deliveries attended by trained staff jumped from 47 to 80%. In education 14 million textbooks were provided to children, completion rates of school have increased, and higher education was made available to students that chose to pursue it.[19]

Ease of Doing Business Rank (EDBR)

The Democratic Republic of Congo ranks 183 on the low end of the ease of doing business scale as ranked by the World Bank. This measures the difficulties of starting a business, enforcing contracts, paying taxes, resolving insolvency, protecting investors, trading across borders, getting credit, getting electricity, dealing with construction permits and registering property (World Bank 2014:8).[20]

International Monetary Fund

The IMF plans on giving the DRC a $1 billion loan after its two-year suspension after it failed to give details about a mining deal from one of its state owned mines and an Israeli billionaire, Dan Gertler. The loan may be necessary for the country because there will be elections in December 2016 for the next president and the cost of funding this would range around $1.1 billion. The biggest problem with the vote is getting a country of 68 million people the size of Western Europe to polling stations with less than 1,860 miles of paved roads.[21]

Sectors

Agriculture

Agriculture is the mainstay of the economy, accounting for 57.9% of the GDP in 1997. Main cash crops include coffee, palm oil, rubber, cotton, sugar, tea, and cocoa. Food crops include cassava, plantains, maize, groundnuts, and rice. In 1996, agriculture employed 66% of the work force.

Fishing

The Democratic Republic of Congo also possesses 50 percent of Africa's forests and a river system that could provide hydro-electric power to the entire continent, according to a United Nations report on the country's strategic significance and its potential role as an economic power in central Africa.[22] Fish are the single most important source of animal protein in the DRC. Total production of marine, river, and lake fisheries in 2003 was estimated at 222,965 tons, all but 5,000 tons from inland waters. PEMARZA, a state agency, carries on marine fishing.

Forestry

Forests cover 60 percent of the total land area. There are vast timber resources, and commercial development of the country's 61 million hectares (150 million acres) of exploitable wooded area is only beginning. The Mayumbe area of Bas-Congo was once the major center of timber exploitation, but forests in this area were nearly depleted. The more extensive forest regions of the central cuvette and of the Ubangi River valley have increasingly been tapped.

Roundwood removals were estimated at 72,170,000 m2 in 2003, about 95 percent for fuel. Some 14 species are presently being harvested. Exports of forest products in 2003 totalled $25.7 million. Foreign capital is necessary in order for forestry to expand, and the government recognizes that changes in tax structure and export procedures will be needed to facilitate economic growth.

Mining

Tree map exports 2009 DRCongo.jpeg
Graphical depiction of DRCongo's product exports in 28 color-coded categories.

Rich in minerals, the DRC has a difficult history of predatory mineral extraction, which has been at the heart of many struggles within the country for many decades, but particularly in the 1990s. Although the economy of the Democratic Republic of the Congo, the second largest country in Africa who has historically relied heavily on mining, is no longer reflected in the GDP data as the mining industry has suffered from long-term "uncertain legal framework, corruption, and a lack of transparency in government policy." The informal sector .[8]

In her book entitled The Real Economy of Zaire, MacGaffey described a second, often illegal economy, "system D," which is outside the official economy (MacGaffey 1991:27).[23] and therefore is not reflected in the GDP.

exploitation of mineral substances as MIBA EMAXON and De Beers The economy of the second largest country in Africa relies heavily on mining. The Congo is the world's largest producer of cobalt ore,[24] and a major producer of copper and industrial diamonds. The Congo has 70% of the world's coltan, and more than 30% of the world's diamond reserves.,[25] mostly in the form of small, industrial diamonds. The coltan is a major source of tantalum, which is used in the fabrication of electronic components in computers and mobile phones. In 2002, tin was discovered in the east of the country, but, to date, mining has been on a small scale.

Smuggling of the conflict minerals, coltan and cassiterite (ores of tantalum and tin, respectively), has helped fuel the war in the Eastern Congo.[26]

Copper and Cobalt

Katanga Mining Limited, a London-based company, owns the Luilu Metallurgical Plant, which has a capacity of 175,000 tonnes of copper and 8,000 tonnes of cobalt per year, making it the largest cobalt refinery in the world. After a major rehabilitation program, the company restarted copper production in December 2007 and cobalt production in May 2008.[27]

Informal sector

Much economic activity occurs in the informal sector and is not reflected in GDP data.[8]

Transport

First train in Kindu, DRC
All aboard - a train from Lubumbashi arriving in Kindu on a newly refurbished line.

Ground transport in the Democratic Republic of Congo has always been difficult. The terrain and climate of the Congo Basin present serious barriers to road and rail construction, and the distances are enormous across this vast country. Furthermore, chronic economic mismanagement and internal conflict has led to serious under-investment over many years.

On the other hand, the Democratic Republic of Congo has thousands of kilometres of navigable waterways, and traditionally water transport has been the dominant means of moving around approximately two-thirds of the country.

See also

References

  1. ^ a b c d "Report for Selected Countries and Subjects".
  2. ^ "World Bank forecasts for Congo, Dem. Rep., June 2018 (p. 153)" (PDF). World Bank. Retrieved 11 September 2018.
  3. ^ "Ease of Doing Business in Congo, Dem Rep". Doingbusiness.org. Retrieved 2017-01-23.
  4. ^ "Export Partners of Democratic Republic of Congo". CIA World Factbook. 2012. Retrieved 2013-07-29.
  5. ^ "Import Partners of Democratic Republic of Congo". CIA World Factbook. 2012. Retrieved 2013-07-29.
  6. ^ a b Centre National d'Appui au Développement et à la Participation Paysanne CENADEP (23 October 2009). Province orientale :le diamant et l'or quelle part dans la reconstruction socio - économique de la Province ? (Report). Archived from the original on 25 November 2009.
  7. ^ Seema Shekhawat (January 2009). Governance Crisis and Conflict in the Democratic Republic of Congo (PDF) (Report). Working Paper No. 6. Mumbai: Centre for African Studies, University of Mumbai. Archived from the original (PDF) on 6 July 2014. Retrieved 23 March 2013.
  8. ^ a b c Dublin - Research and Markets
  9. ^ J. Graf Lambsdorff (2006). "Corruption Perceptions Index 2006". Transparency International. Archived from the original on 16 April 2011. Retrieved 21 January 2008.
  10. ^ Werve, Jonathan (2006). The Corruption Notebooks 2006. p. 57.
  11. ^ "The Democratic Republic of Congo — Global Issues". www.globalissues.org. Retrieved 2015-12-13.
  12. ^ "Joe Trapido: Africa's Leaky Giant. New Left Review 92, March-April 2015". newleftreview.org. Retrieved 2015-12-13.
  13. ^ a b c David van Reybrouck. Congo: The Epic History of a People. HarperCollins, 2012. p. 374ff. ISBN 978-0-06-220011-2.
  14. ^ Georges Nzongola-Ntalaja. The Crisis in Zaire: Myths and Realities. Africa World Press, 1986. p. 226. ISBN 0-86543-023-3.
  15. ^ Aikins Adusei (30 May 2009). "IMF and World Bank: Agents of Poverty or Partners of Development?". Modern Ghana. Retrieved 30 March 2015.
  16. ^ [1] Le "paradis" où le droit fera la loi, L'Echo, novembre 2010 (in French)
  17. ^ "Report for Selected Countries and Subjects". Retrieved 2018-08-25.
  18. ^ "Democratic Republic of Congo Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption". www.heritage.org. Retrieved 2017-02-24.
  19. ^ "News & Broadcast - Democratic Republic of Congo: Country Results Profile". web.worldbank.org. Retrieved 2015-12-13.
  20. ^ Economy Profile: Democratic Republic of Congo (PDF) (Report). Washington, DC: [World Bank: The International Bank for Reconstruction and Development www.worldbank.org]. 2013. Archived from the original (PDF) on 20 February 2013. Retrieved 2013. Check date values in: |accessdate= (help)
  21. ^ Beith, Malcolm; Richardson, Paul. "IMF Ready to Lend $1 Billion to Democratic Republic of Congo". Bloomberg.com. Retrieved 2015-12-13.
  22. ^ Democratic Republic of the Congo economic and strategic significance
  23. ^ Janet MacGaffey (1991). The Real Economy of Zaire: The Contribution of Smuggling and Other Unofficial Activities to National Wealth. London: James Currey. p. 175.
  24. ^ "Cobalt: World Mine Production, By Country". Retrieved 2008-06-30.
  25. ^ "DR Congo poll crucial for Africa" BBC News. 16 November 2006.
  26. ^ Polgreen, Lydia (16 November 2008). "Congo's Riches, Looted by Renegade Troops". The New York Times. Retrieved 27 March 2010.
  27. ^ "Katanga Project Update and 2Q 2008 Financials, Katanga Mining Limited,". 8 12 08. Check date values in: |date= (help)

External links

Agriculture in the Democratic Republic of the Congo

Agriculture in the Democratic Republic of the Congo is an industry in the country of the Democratic Republic of the Congo that has plenty of potential.

André Lubaya

André Guillaume Lubaya (28 March 1932 – 2 May 1968) was a Congolese politician who served twice as the President of Kasai Province and later as the Minister of Economy of the Democratic Republic of the Congo. He was the founder of the Union Démocratique Africaine.

Anvil Mining

Anvil Mining is a copper producer that has been operating in the Democratic Republic of the Congo (DRC) since 2002.

The company headquarters are in Montreal, Quebec, Canada.

Anvil is listed on the Toronto Stock Exchange and the Australian Stock Exchange.

As of September 2011 its major shareholder was Trafigura Beheer.

Association Congolaise des Banques

The Association Congolaise des Banques (Congolese Banking Association), was created on 22 August 1952. By law No. 003-2002 of 2 February 2002, The Activities and Supervision of Credit Institutions in the Democratic Republic of Congo, Article 86 provides that all credit institutions are required to join the association. Currently, the association's headquarters is in Kinshasa at the regional headquarters of Trust Merchant Bank, and the latter acts as the association's general secretariat.

Central Bank of the Congo

The Central Bank of the Congo (French: Banque Centrale du Congo) is the central bank of the Democratic Republic of the Congo. The bank's main offices are on Boulevard Colonel Tshatshi in La Gombe in Kinshasa.

The bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion. On 5 May 2012 the Central Bank of the Democratic Republic of Congo announced it would be making specific commitments to financial inclusion under the Maya Declaration.

Cobalt

Cobalt is a chemical element with symbol Co and atomic number 27. Like nickel, cobalt is found in the Earth's crust only in chemically combined form, save for small deposits found in alloys of natural meteoric iron. The free element, produced by reductive smelting, is a hard, lustrous, silver-gray metal.

Cobalt-based blue pigments (cobalt blue) have been used since ancient times for jewelry and paints, and to impart a distinctive blue tint to glass, but the color was later thought by alchemists to be due to the known metal bismuth. Miners had long used the name kobold ore (German for goblin ore) for some of the blue-pigment producing minerals; they were so named because they were poor in known metals, and gave poisonous arsenic-containing fumes when smelted. In 1735, such ores were found to be reducible to a new metal (the first discovered since ancient times), and this was ultimately named for the kobold.

Today, some cobalt is produced specifically from one of a number of metallic-lustered ores, such as for example cobaltite (CoAsS). The element is however more usually produced as a by-product of copper and nickel mining. The copper belt in the Democratic Republic of the Congo (DRC) and Zambia yields most of the global cobalt production. The DRC alone accounted for more than 50% of world production in 2016 (123,000 tonnes), according to Natural Resources Canada.Cobalt is primarily used in the manufacture of magnetic, wear-resistant and high-strength alloys. The compounds cobalt silicate and cobalt(II) aluminate (CoAl2O4, cobalt blue) give a distinctive deep blue color to glass, ceramics, inks, paints and varnishes. Cobalt occurs naturally as only one stable isotope, cobalt-59. Cobalt-60 is a commercially important radioisotope, used as a radioactive tracer and for the production of high energy gamma rays.

Cobalt is the active center of a group of coenzymes called cobalamins. vitamin B12, the best-known example of the type, is an essential vitamin for all animals. Cobalt in inorganic form is also a micronutrient for bacteria, algae, and fungi.

Coffee production in Democratic Republic of the Congo

Coffee production in Democratic Republic of the Congo (DRC) is centered in the Lake Kivu provinces. There are about 11,000 coffee farmers in the country who produce two main varieties of coffee, Robusta and Arabica.

Congolese franc

The Congolese franc is the currency of the Democratic Republic of the Congo. It is subdivided into 100 centimes.

Corruption in the Democratic Republic of the Congo

Corruption in the Democratic Republic of the Congo, once legendary, has diminished in recent years, but continues to exceed corruption in most states. The BBC's DRC country profile calls its recent history "one of civil war and corruption." President Joseph Kabila established the Commission of Repression of Economic Crimes upon his ascension to power in 2001.

Democratic Republic of the Congo

The Democratic Republic of the Congo (pronunciation French: République démocratique du Congo [kɔ̃ɡo]), also known as DR Congo, the DRC, DROC, Congo-Kinshasa, or simply the Congo, is a country located in Central Africa. It is sometimes anachronistically referred to by its former name of Zaire, which was its official name between 1971 and 1997. It is, by area, the largest country in Sub-Saharan Africa, the second-largest in all of Africa (after Algeria), and the 11th-largest in the world. With a population of over 78 million, the Democratic Republic of the Congo is the most populated officially Francophone country, the fourth-most-populated country in Africa, and the 16th-most-populated country in the world. Currently, eastern DR Congo is the scene of ongoing military conflict in Kivu, since 2015.

Centred on the Congo Basin, the territory of the DRC was first inhabited by Central African foragers around 90,000 years ago and was reached by the Bantu expansion about 3,000 years ago. In the west, the Kingdom of Kongo ruled around the mouth of the Congo River from the 14th to 19th centuries. In the centre and east, the kingdoms of Luba and Lunda ruled from the 16th and 17th centuries to the 19th century. In the 1870s, just before the onset of the Scramble for Africa, European exploration of the Congo Basin was carried out, first led by Henry Morton Stanley under the sponsorship of Leopold II of Belgium. Leopold formally acquired rights to the Congo territory at the Berlin Conference in 1885 and made the land his private property, naming it the Congo Free State. During the Free State, the colonial military unit, the Force Publique, forced the local population to produce rubber, and from 1885 to 1908, millions of Congolese died as a consequence of disease and exploitation. In 1908, Belgium, despite initial reluctance, formally annexed the Free State, which became the Belgian Congo.

The Belgian Congo achieved independence on 30 June 1960 under the name Republic of the Congo. Congolese nationalist Patrice Lumumba was elected the first Prime Minister, while Joseph Kasa-Vubu became the first President. Conflict arose over the administration of the territory, which became known as the Congo Crisis. The provinces of Katanga, under Moïse Tshombe, and South Kasai attempted to secede. After Lumumba turned to the Soviet Union for assistance in the crisis, the U.S. and Belgium became wary and oversaw his removal from office by Kasa-Vubu on 5 September and ultimate execution by Belgian-led Katangese troops on 17 January 1961. On 25 November 1965, Army Chief of Staff Joseph-Désiré Mobutu, who later renamed himself Mobutu Sese Seko, officially came into power through a coup d'état. In 1971, he renamed the country Zaire. The country was run as a dictatorial one-party state, with his Popular Movement of the Revolution as the sole legal party. Mobutu's government received considerable support from the United States, due to its anti-communist stance during the Cold War. By the early 1990s, Mobutu's government began to weaken. Destabilisation in the east resulting from the 1994 Rwandan genocide and disenfranchisement among the eastern Banyamulenge (Congolese Tutsi) population led to a 1996 invasion led by Tutsi FPR-ruled Rwanda, which began the First Congo War.On 17 May 1997, Laurent-Désiré Kabila, a leader of Tutsi forces from the province of South Kivu, became President after Mobutu fled to Morocco, reverting the country's name to the Democratic Republic of the Congo. Tensions between President Kabila and the Rwandan and Tutsi presence in the country led to the Second Congo War from 1998 to 2003. Ultimately, nine African countries and around twenty armed groups became involved in the war, which resulted in the deaths of 5.4 million people. The two wars devastated the country. President Laurent-Désiré Kabila was assassinated by one of his bodyguards on 16 January 2001 and was succeeded eight days later as President by his son Joseph.

The Democratic Republic of the Congo is extremely rich in natural resources but has had political instability, a lack of infrastructure, issues with corruption and centuries of both commercial and colonial extraction and exploitation with little holistic development. Besides the capital Kinshasa, the two next largest cities Lubumbashi and Mbuji-Mayi are both mining communities. DR Congo's largest export is raw minerals, with China accepting over 50% of DRC's exports in 2012. In 2016, DR Congo's level of human development was ranked 176th out of 187 countries by the Human Development Index. As of 2018, around 600,000 Congolese have fled to neighbouring countries from conflicts in the centre and east of the DRC. Two million children risk starvation, and the fighting has displaced 4.5 million people. The sovereign state is a member of the United Nations, Non-Aligned Movement, African Union, and COMESA.

Democratic Republic of the Congo and the World Bank

The World Bank Group is a family of five international organizations, which has continuously given leverage loans and financial assistance to developing nations like the Democratic Republic of the Congo. The Democratic Republic of the Congo, or more commonly known as the DRC, has received assistance from the World Bank in the form of social programs in order to induce and sustain economic development. Assisted investments fell in configuration with prevention of conflict, investing in education, and addressing environmental degradation. The DRC has an abundance of natural resources, such as minerals, human capital, water and livestock. Primarily due to their abundance, the World Bank sees the Democratic Republic of the Congo as a developing nation with high possibility for economic growth, not only to the benefit of the country, but potentially to the entirety of the African continent. Over the years, the DRC has made substantial economic progress which can be seen in their increased security, advancing economy, and introduction to democratic governance. In relation to the prevalent conflict, the DRC signed the peace accord in 2002 and has made considerable efforts to unify their army.However, despite their advancing economy, the DRC repeatedly has a low Gross National Income (GNI) per capita and Economic Vulnerability Index (EVI) due to internal conflicts that began in the 1990s. These conflicts have caused many obstacles for the DRC when attempting to achieve economic development, including internal protests, violence stemming from rebel groups, inability to sustain economic growth, political instability, weak governance, and deforestation.

Federation of Businesses of the Congo

The Federation of Businesses of the Congo (French: Fédération des entreprises du Congo) is the main employers' organization in the Democratic Republic of the Congo. Established in 1997, it had 2, 700 members in 2010. It received financial support from the French Development Agency in 2010. Its president is Albert Yuma Mulimbi.

List of companies of the Democratic Republic of the Congo

The Democratic Republic of the Congo is a country located in the African Great Lakes region of Central Africa. It is the second largest country in Africa by area and the eleventh largest in the world. With a population of over 75 million, the Democratic Republic of the Congo is the nineteenth most populous nation in the world, the fourth most populous nation in Africa, as well as the most populous officially Francophone country.

Sparsely populated in relation to its area, the country is home to a vast potential of natural resources and mineral wealth, its untapped deposits of raw minerals are estimated to be worth in excess of US$24 trillion, yet the economy of the Democratic Republic of the Congo has declined drastically since the mid-1980s. At the time of its independence in 1960, the Democratic Republic of the Congo was the second most industrialized country in Africa after South Africa; it boasted a thriving mining sector and its agriculture sector was relatively productive. Since then, however, corruption, war and political instability have been a severe detriment to further growth, today leaving DRC with the world's lowest GDP per capita.

List of governors of the Banque Centrale du Congo

This is a list of the governors of the Banque Centrale du Congo in Kinshasa. The bank, which is the country's central bank, was founded after independence in 1960.

Albert Ndele, 1961–1970

Jules-Fontaine Sambwa, 1970–1977

Charles Bofossa Wambea Nkosso, 1977–1979

Jules Croy Emony Mondanga, 1979–1981

Jules-Fontaine Sambwa, 1981–1985 (second term)

Pierre Pay-Pay wa Syakasighe, 1985–1991

Jean Nyembo Shabani, 1991–1993

Joseph Buhendwa bwa Mushasa, 1993–1994

Godefroid Ndiang Kabul, 1994

Djamboleka Lona Okitongono, 1994–1997

Jean-Claude Masangu Mulongo, 1997–14.05.2013

Deogratias Mutombo Mwana Nyembo, 14.05.2013–present

List of provinces of the Democratic Republic of Congo by Human Development Index

This is a list of the 11 former provinces of the Democratic Republic of the Congo (from 1997 to 2015) by Human Development Index as of 2015.

Outline of the Democratic Republic of the Congo

The following outline is provided as an overview of and topical guide to the Democratic Republic of the Congo:

Democratic Republic of the Congo – country located in Central Africa. The country is extremely rich in natural resources but political instability, a lack of infrastructure and a culture of corruption have historically limited development, extraction and exploitation efforts. Besides the capital, Kinshasa, the country's other largest cities are both mining communities (Lubumbashi and Mbuji-Mayi) and the country's largest exports are raw minerals.

Poverty in the Democratic Republic of the Congo

Poverty is widespread and unchecked across the 26 provinces of the Democratic Republic of the Congo (DRC). Despite being the second-largest country in Africa, with an approximate area of 2.3 million square kilometres (890,000 sq mi), and being endowed with rich natural resources, the DRC is the second-poorest country in the world. The average annual income is only $785 US dollars. In 2016, the United Nations (UN) Human Development Index (HDI) ranked the DRC as the 176th least-developed country out of 188 countries with an HDI of 0.435. More than 80% of Congolese people live on less than $1.25 a day, defined as the threshold for extreme poverty.

Rail transport in the Democratic Republic of the Congo

Rail transport in the Democratic Republic of the Congo

is provided by the Congo Railroad Company (Société Nationale des Chemins de Fer du Congo) and the Office National des Transports (Congo) (ONATRA) and the Office of the Uele Railways (Office des Chemins de fer des Ueles, CFU).

The national system is mostly operated by the Société Nationale des Chemins de Fer du Congo (SNCC). Not all rail lines link up, but are generally connected by river transport. The rail systems are listed below.

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