18 Hrs
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بوابة الشروق
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Source: بوابة الشروق
18 Hrsبوابة الشروق
Source: بوابة الشروق
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The Democratic Republic of Congo relies on reducing its dependence on the US dollar by requiring entities operating within its territory, including mining companies, to increase local payments in Congolese francs. The government plans to ask mining companies to sell up to 30% of the dollars they repatriate from export revenues to the central bank in exchange for francs, in order to strengthen monetary reserves and support the local economy. The mining sector, which accounts for about 40% of the GDP, has exported minerals worth up to $93 billion since 2023, with $54 billion of that amount repaid to the country. However, only a very small portion remains within the financial system to support investment. These measures come at a time when the country is seeking to capitalize on historic copper prices, as it is the world’s largest producer of cobalt, used in battery and electronic device manufacturing.
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