DRC: the government raised USD 65.57 million on the public securities market during the week

The Government of the Democratic Republic of Congo (DRC), via the Minister of Finance, has announced that it has raised $65.57 million on the local Treasury bond market at an auction held on November 19, 2024.

This financial operation attracted the interest of six bidders, including banks and credit companies.

Despite an initial target of $100 million, the amount raised represented a coverage rate of 65.57%.

The Minister of Finance, Doudou Fwamba, noted that this fundraising is crucial to support national projects and maintain the country’s economic stability.

The Bonds issued carry an interest rate of 9% with a maturity of 18 months, offering an attractive investment opportunity in a difficult economic context.

This operation is part of a series of initiatives aimed at mobilizing financial resources to meet the growing budgetary needs of the Democratic Republic of Congo.

The financial authorities hope that this success will encourage other similar initiatives in the future.

The Minister of Finance also expressed his gratitude to the commercial banks for their active participation. These operations are essential for financing public spending and repaying debts.

At the same time, the Democratic Republic of Congo plans to raise around $340 million in 2024 via these financial instruments, demonstrating a proactive strategy to strengthen its financial market.

The positive results of previous auctions reinforce investor confidence in Congolese Treasury Bonds.

This momentum is also supported by ongoing reforms aimed at improving financial inclusion and developing the local financial market.

The Congolese government is committed to directing the resources mobilized towards structuring projects, and to encouraging greater participation by banks.

Mitterrand MASAMUNA