breaking news
DRC-USA: Patrick T. Onoya discusses the prerequisites for good business practice
Patrick Tambwe Onoya, a Congolese entrepreneur working in the USA and head of the business firm, Le Patron, gave some aspects to consider in order to do good business in the USA. He addressed Congolese economic operators who met last weekend in Beatrice Hotel as part of Trade Show, the USA-DRC Economic Forum organized by Easy Commerce and the new Chamber of Commerce.
According to this businessman, economic operators have a lot to learn to emerge in the American environment.
First, it is essential to communicate well about the DRC. According to Patrick Tambwe, the American political world knows the DRC well. But unfortunately, the economic world does not know it well, which means that American economic operators do not master the workings of the economic sector in Félix Tshisekedi’s country. Basically, the lack of good communication outside.
Secondly, Congolese economic operators must differentiate between the American economic system and that of the DRC. The American economic system is modular, i. e. it is based on a chain of intermediaries. This has the advantage of making opportunities more reliable and the risk is reduced. While the Congolese economic system is more than 60% informal, there is a problem of access to information.
Third, this head of the business firm, Le Patron, still notes some positive aspects that encourage American businessmen to invest in the DRC. There are mining resources in particular, which are the main focus.
In addition to this, the demographics, 60 million consumers are not insignificant. The geographical location is also a major asset, the position of the DRC facilitates access to other African countries. Finally, the improvement of the political situation. The peaceful handover of power has given hope to many foreign investors who are comebacking in the country.
Fourth, as a Congolese entrepreneur operating in the United States, Patrick Onoya notes bitterly that there are still some grey areas that tend to tarnish the image of the DRC and that we must at all costs cut back to encourage American investors to come to the country. He cites corruption, this scourge that must be fought against; the improvement of the financial system because, in his opinion, it is still rudimentary. It also encourages a strengthening of bilateral agreements.
Fifth, in order to help Congolese businessmen wishing to evolve in the USA, Patrick Tambwe proposes four phases to consider for a project to succeed. First, there is the presentation of opportunities, which is sanctioned by an agreement in principle. Then, there are in-depth discussions and development of the general framework for collaboration.
Afterwards, the documentary phase of the project takes place, where feasibility studies must be requested, and legal and tax aspects must be considered. Finally, the agreement will be implemented, depending on the type of contract.
To perpetuate these exchanges on US-DRC trade, Patrick Tambwe Onoya proposed the creation of a permanent framework for monitoring and evaluating economic exchanges between the two countries; the intensification of reforms to move the DRC’s economy from informal to modular; the establishment of a public-private information system; and support for strengthening bilateral DRC-US actions.
Nadine FULA
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
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
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
-
breaking news5 ans agoDRC: dam Zongo II, a project poorly evaluated technically and financially (study)
-
breaking news5 ans agoDRC: Government incorporates IDEF into the cost of airfare
-
breaking news5 ans agoDRC: International Banker Awards SOFIBANQUE Two 2019 Best Bank Awards
-
Banks5 ans agoDRC: Equity Bank strengthens its partnership with VISA inc.
-
breaking news5 ans agoDRC: Dandy Matata calls for a state of emergency in the education sector
-
breaking news5 ans agoDRC: Polaris Group in the Emirates wishes to invest in the agricultural sector
-
breaking news5 ans agoDRC: DIVO launches renovations to the Tata Raphael stadium
-
breaking news5 ans agoDRC: Government hires developer for Maluku Special Economic Zone