breaking news
DRC: launch of auction operations for Treasury bill subscriptions
The Governor of the Central Bank of Congo (BCC), Déogratias Mutombo Mwana Nyembo, launched auctions for Treasury bonds in the Democratic Republic of Congo for the fourth quarter of 2019. The official ceremony took place at the Auditorium of Fleuve Congo Hôtel by Blazon, on Friday, October 4, 2019. Several personalities from the financial sector as well as economic operators took part.
The CCB Governor read the press release announcing the start and details of the Treasury Bill auction process. In the absence of the Minister of Finance on mission, the communiqué was signed by the Deputy Minister of Finance, Junior Mata.
“The Minister of Finance announces the opening of a treasury bill auction under the following conditions: – Amount announced: 12 billion Congolese Francs; Line to be opened PT 3 Months 07/01/2020; Line code: CD000200000017; Bid submission date: Tuesday, 8 October 2019 before 11:00 a.m., Any bid submitted after the deadline will be rejected; Bid deposit location: Central Bank of Congo; Results announcement: Tuesday, 8 October 2019 before 3:00 p.m.; Settlement date : D+2, Thursday 10 October 2019; Line outstanding: 0 (zero) Congolese franc. Note: The Minister of Finance reserves the right to accept an amount less than the amount announced if the terms of the contract are deemed unsatisfactory,” said the Governor of the CCB.
Adjudication des #BonsduTrésor du 08 Octobre 2019. #RDC @PrimatureRDC @Presidence_RDC #BCC @SYalaghuli @Junior_Mata1 pic.twitter.com/wb9ZUnw1yG
— Ministère des Finances de la RDC (@des_rdc) October 5, 2019
Other details, subscriptions can be made online. The address given in the press release refers only to the address where the financial infrastructure managing these auctions, in this case the Central Bank of Congo based in Kinshasa, is located. However, underwriters can operate from anywhere in the world.
According to Deogratias Mutombo, “the Treasury bill issuance program provides for the issuance of 4 Treasury bills in October 2019 for a total amount of CF 48 billion; 4 other Treasury bills in November 2019 for an amount of CF 36 billion; and 5 Treasury bills in December 2019 for a total amount of CF 66 billion“.
The Government of the Republic has decided to launch Treasury Bonds and Treasury Bonds in order to diversify its sources of financing and to make available to economic agents an additional instrument for investing their surpluses.
As a reminder, it is since 1995 that the Congolese Government has no longer issued debt securities on the domestic market. At the Ministry of Finance, this absence was explained by the political and security situation at the time, coupled with a difficult economic context that no longer allowed these operations to continue.
The launch ceremony of the treasury bill auctions was coupled with the opening of the book written by the Governor of the Central Bank, Déogratias Mutombo, entitled “Mise en place d’un marché intérieur des valeurs du Trésor en R.D Congo“.
Olivier KAMO
breaking news
Dikembe Mutombo, NBA legend, passes away at age 58
The NBA is mourning the loss of one of its greatest defensive icons. Dikembe Mutombo, the former 7-foot-2 center, passed away at the age of 58 due to a brain cancer, as reported by The Athletic on Monday, September 30.
A defensive record-holder
Born in the Democratic Republic of Congo, Mutombo left an indelible mark on the NBA with his exceptional defensive skills. During his career, he won the Defensive Player of the Year award four times (1995, 1997, 1998, 2001), a record he shares with Ben Wallace and Rudy Gobert. Gobert, in achieving this feat, highlighted the legacy Mutombo left on the game.
Drafted in 1991 by the Denver Nuggets, Mutombo went on to play for several notable teams, including the Atlanta Hawks, Philadelphia 76ers, New Jersey Nets, New York Knicks, and finally the Houston Rockets, where he retired in 2009.
A life of commitment beyond basketball
Although Mutombo never won an NBA championship, with two finals losses (in 2001 with the 76ers and 2003 with the Nets), he was inducted into the Hall of Fame in 2015. Beyond his impressive sports career, he dedicated his life to humanitarian efforts, particularly in Africa. He worked tirelessly to develop basketball across the continent and to help those in need.
NBA Commissioner Adam Silver praised his contributions in a statement: “Dikembe dedicated his life to helping others. He was not only a great player but also a global ambassador for basketball and a humanitarian. His commitment to the community, especially in his native Congo, will be forever remembered.”
Mutombo’s legacy continues to inspire generations of players and humanitarians around the world.
ZoomEco
breaking news
World: 83% of the non-electrified population live in Africa
Africa is home to 83% of the world’s non-electrified population. A thundering paradox, given the continent’s immense hydroelectric potential.
The continent faces a shortage of affordable, reliable and sustainable energy. A think tank dedicated to the development of long-term public and energy policies points out that this is holding back the momentum of individuals and companies alike.
According to the experts, the pace of electrification needs to triple in order to absorb this deficit, rethink several economic models, and put Africans on the path to prosperity.
Dynamic project vehicles on the move
The World Bank Group has pledged to connect 250 million people to electricity, while the African Development Bank (AfDB) will do the same for a further 50 million.
The World Bank Group’s investments are already providing the impetus needed to reach the target, illustrated in its ambitious “Mission 300” program.
East Africa
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DRC: Egyptian Ambassador Hesham El Mekwad pays a courtesy visit to ANAPI
On Thursday September 25, 2024, Bruno Tshibangu Kabaji, Managing Director of the Agence Nationale pour la Promotion des Investissements (ANAPI), and Hesham El Mekwad, the Egyptian ambassador accredited to the Democratic Republic of Congo, exchanged views on investment and trade issues.
The Egyptian diplomat was accompanied by Adham Thabet, development cooperation advisor at the Embassy of the Arab Republic of Egypt.
Discussions between the two personalities focused in particular on the role of ANAPI as the body responsible for supporting investors in the DRC.
While stressing the need to increase economic and commercial cooperation between Egypt and the DRC, the two parties encouraged Egyptian investors to step up their presence in several fields in the DRC, notably energy, transport, infrastructure and agriculture, fisheries and livestock.
With this in mind, the Egyptian Ambassador expressed the wish to establish regular contacts with ANAPI to support this mutual ambition.
Nadine FULA
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