Congo, DR March 9, 2021

Russia Stated Interest in Investments in the DRC

Dmitry Oveshnikov, Igor Morozov, the interpreter, Valeriy Redkin at the «Investment Opportunities in the Democratic Republic of Congo» business forum

Projects of mutual interest to both Russia and the DR Congo were announced today at the “Investment Opportunities in the Democratic Republic of Congo” business forum. More than 50 Russian and Congolese companies from various sectors stated their interest in cooperating in a number of projects ranging from road rehabilitation to greenhouse installation. The leaders of the Russian and Congolese parties Igor Morozov, Chairman of AFROCOM, and Anthony Nkinzo, Managing Director of the National Investment Promotion Agency (ANAPI) agreed to bring these projects together in the Memorandum, which is currently being developed. 

A number of Russian companies have expressed their interest in cooperation with DRC. Russian aerospace defence systems manufacturer Almaz-Antey showed particular interest in the rehabilitation of the country’s airports and training personnel in navigation controls.

One of the few agricultural companies present was Niva Greenhouses, whose CEO Umar Musaev presented the company’s Africa-tailored greenhouse solutions. These are light versions based on indoor hydroponic cultivation. According to U. Musaev, such greenhouses could develop DR Congo’s high export potential for flowers.

Maxim Prokhorov, of Russian Helicopters, invited the participants to see their fleet live this summer at Zhukovsky airport at the MAKS-2021 International Airshow. Igor Morozov mentioned that AFROCOM might address the company even sooner as the DR Congo already has a demand for helicopters. According to the company, the African helicopter fleet now numbers 3,873 pieces, of which 23% were produced by Russian Helicopters.

For his part, Anthony Nkinzo, ANAPI, stated cooperation priorities as infrastructure, energy and electricity, agriculture and human capital. He drew the audience’s attention to several specific projects, among them the agricultural park of Nkundi, the hydropower plant on the river Ubangi and more.

Donat Bagula, Secretary General of the Ministry for Transports & Communications, mentioned that projects of mutual interest can be included in the National Strategic Development Plan of the DRC. He agreed with his colleague Esperence Belau, agri-entrepreneur, member of The Federation of Enterprises of Congo that the main focus of Russia-DR Congo cooperation should be given to infrastructure development along with personnel training.

At the end of the meeting Igor Morozov, Chairman of AFROCOM briefly introduced the new cooperation concept. He said that concession rights granted to Russian companies can be taken into account in investment projects. This new format of project’s financing is now being developed and may come into force in 2H 2021.