The Democratic Republic of the Congo is the largest country in Sub-Saharan Africa. It is among the poorest countries on Earth, with the 5th smallest GDP per capita. The country’s soil is among the most gifted in terms of mineral reserves. DRC has experienced two civil wars between 1996 and 2002. It is part of the COMESA and the Economic Community of Central African States.
Form of Government
Head of State and Government
President Félix Tshisekedi; Prime Minister Jean-Michel Sama Lukonde
GDP per capita
In 2010-2020, the DRC’s average GDP growth rate was 5.9%, with a harsh decrease of 6.4% in 2020 due to COVID-19 crisis. In 2019, Foreign Direct Investments amounted to $1.9 billion. Top investments recipients are mining and telecommunications.
DRC is the 4th most populous country in Africa. Though the tourist industry of the country is highly ambitious, its revenues are as unstable ($60 billion in 2018, $6 billion in 2017), as the region is. It is generally explained by the insecurity of the eastern part of the country, the pandemics (EBOLA, for example), and the lack of tourism infrastructure. The literacy rate was 85% for the 15-25 years old population in 2018, whereas the unemployment rate is estimated at around 4%.
Two thirds of the entire African rainforests are located in the DRC. The country has the largest deposit of cobalt and the second-largest deposit of copper in the world. DRC is the 4th producer of diamonds in the world. Gold and coltan are extracted too. Mining industry benefits from partnerships with Chinese companies, which provide qualified workforce and update the infrastructure.
On October 23, 2019, within the framework of the Russia-Africa Economic Forum, VEB.RF and Afreximbank signed an agreement on general rules and conditions for VEB’s participation in Afreximbank’s Trade Confirmation Guarantee Program as a confirming bank. The document was signed by the Deputy Chairman of VEB.RF Daniil Algulyan and the Executive Vice President of Afreximbank […]