DRC: Yuma identifies three principles to rethink mining economic model

The National President of the Federation of Enterprises of Congo (FEC), Albert Yuma Mulimbi has identified three guiding principles to rethink the mining economic model in the DRC. He was a speaker at DRC Mining Week in Lubumbashi on June 201, 2019.

It is based on the fact that the mining industry, which at present is mostly extroverted and whose share of local processing is reduced to a small portion. As Albert Yuma said, what the mining sector needs structurally is a real evolution in the way the mining industry is organized in the DRC.

As for the essential principles, the boss of the bosses evoked:

First, a model that changes the rules of resource sharing between the investor and the country of investment by better aligning their respective interests;

Then a model that favors local added value;

Finally, a model in which the public power really plays its role of guardian of its strategic resources.

« With these three main conditions, the mining sector will contribute in depth to the emergence of a developed private sector where national as foreign partners will find their account. The activity calls for activity, and our country still has many opportunities for development, in the mines but also in energy or transport for example, which is an essential component, « said Albert Yuma.

For the president of the FEC, there is no question of seeking that the Congolese replace the current foreign operators in view of the failure that has occurred. However, he hopes that there will also be a Congolese entrepreneurial fabric, as was the case in the past.

 » This is essential. Because if we really want the private sector to contribute to the growth of this country, play a role as a transmission link between the economy and the people, we should also be able to count on a private sector of Congolese nationals « , reassured Albert Yuma.

Heureux de participer à la semaine minière de RDC @DRCMiningWeek à Lubumbashi. Quelques entreprises du Royaume-Uni y participent pour la deuxième fois cette année. N’hésitez pas à visiter notre pavillon #GREAT si vous y êtes #UKAfricaTrade pic.twitter.com/BZo3JtoJ9R

— John Murton (@JohnMurton) June 19, 2019

Therefore, he insisted, it is time to stop being only this economy of rent which makes use the too small currencies which return in the country to massively import essential goods, of which simple food .

And to hammer: « It is only on this condition and this condition alone that we could create real sustainable and inclusive growth.  »

Moreover, the national president of the FEC reiterated his determination to oppose any attempt to amend the new Mining Code. Because, he believes, legislation does not cover everything. Although she is drawing perspectives on a wide range of topics, she has provided the state with the tools to act.

Eric TSHIKUMA