The Government of the Democratic Republic of the Congo (DRC) is backing the Bakwanga Mining Company (MIBA) recovery plan with seventy (70) million US dollars.
The announcement was made on December 28, 2024, by the Minister of Finance, Doudou Fwamba Likunde, during a series of questions and answers on his X account.
The granting of this financing to MIBA aims to restore the competitiveness of this strategic public company, once a key player in the diamond sector.
Economic objectives and international attractiveness
MIBA’s recovery plan includes the certification of mining reserves, essential to attract international investors.
According to experts at the International Monetary Fund (IMF), certification will enhance MIBA’s credibility on the global market, by improving transparency and resource management.
Securing the mining perimeter combined with equipment modernization should thus increase the company’s productivity and profitability, contributing to national economic growth in the long term.
Energy infrastructure and growth prospects
Completion of the Lubilanji hydroelectric plant will guarantee a stable power supply, essential for ongoing mining operations.
Experts point out that this initiative could reduce energy costs, enabling MIBA to regain its competitiveness on the international market, while creating jobs and boosting tax revenues.
The relaunch of MIBA is part of the government’s strategy to turn around state-owned enterprises, with the hope that the company can once again play a major role in the Congolese economy.
Flory Musiswa
