December 15, 2017

Political instability in DR Congo causes uncertainty for investors

Political impasse in Democratic Republic of Congo (DRC Congo), in which both the opposition and the government are not willing to compromise, has brought the country’s economy at a standstill, with mining, the country’s economy mainstay, amongst sectors affected the most.

President Laurent Kabila’s refusal to step down has triggered countrywide street protests from supporters of a loose coalition of opposition parties. The demonstrators have targeted petrol stations, health centres and government offices.

Thus far, according to various reports that have emerged from the country, close to 40 people have been killed and others injured in the capital, Kinshasha, Lubumbashi and other centres.

A ruling by the country constitutional court, which has mandated President Kabila to stay in power, pending elections, has incensed opposition parties.

Countrywide business organisations have announced suspension of activity pending a return to stability.

Reports from Amnesty International and Human Rights Watch have said foreign organisations make billions of dollars from years of civil in DR Congo. Minerals are smuggled outside the country, laundered and enter global markets.

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