Real Estate Investor Magazine South Africa May 2016 | Page 50

AFRICA SERIES

Democratic Republic of Congo
Democratic Republic of Congo

After decades of conflict, DRC is slowly starting
to exploit some of its incredible natural resources
and minerals.

Capital: Kinshasa
Currency: Congolese franc
President: Joseph Kabila
Population: 81 million (2015) World Bank
Official language: French, Lingala
Literacy: 81.2%
Ethnic Groups

Over 200 African ethnic groups of which the
majority are Bantu
The four largest tribes – Mongo, Luba, Kongo
and Mangbetu-Azande make up around 45% of
the population

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MAY 2016 SA Real Estate Investor

Industrys

Mining (diamonds, gold, copper, cobalt, zinc),
mineral processing, consumer products (including
textiles, footwear cigarettes, processed foods and
beverages), cement, commercial ship repair

Background

The DRC gained its independence from Belgium in
1960, but its subsequent years were marred with by
instability. Col. Joseph Mobuto seized power in 1965
and renamed the country Zaire. Ethnic strife and
civil war led to the toppling of the Mobuto regime
in 1997, in a rebellion led by Laurent Kabila, who
renamed the country the Democratic Republic of
Congo. Kabila was assassinated in 2001 and his son,
Joseph Kaila became head of state. In 2002 the new
president negotiated the withdrawal of Rwandan
forces occupying eastern Congo. Two months later
the Pretoria Accord was signed, ending the fighting
and establishing a government of national unity.

Economy

The DRC has vast potential wealth. Conflict has
dramatically reduced national output and government
revenue, increased external debt and resulted in the
deaths of more than 5 million people from violence,
famine and disease. Conditions began to improve
in 2002 with the withdrawal of foreign troops. The
transitional government reopened relations with
international financial institutions and donors and
reforms began implementation, although progress
has been slow. Renewed activity in the mining sector
boosted GDP growth from 2006-2008, but in 2008
renewed conflict and the fall in world prices for
minerals damaged the economy and halted growth.
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