Nairobi. The Democratic Republic of the Congo (DRC) has given Kenyans a tip to invest in their minerals and agriculture sectors to do business that will receive funding from Equity Bank.
East Kasai Province Governor Jeanette Musuamba said the Democratic Republic of the Congo – which has diamonds, iron, gold, cobalt, coltan and other minerals – offers lucrative investment opportunities.
âSerious exploitation can be explored for the processing of diamonds and other minerals on an industrial scale. We also have massive deposits of building materials such as sand and granite, which are found in many areas, âsaid the governor – adding that the demand for suitable housing is insatiable.
This is what Ms. Musuamba said as she moderated the Kenya DRC mission with 300 investors and other participants from Kenya.
Investors are visiting the DRC on a two-week trade mission as part of an Equity Group-backed partnership with the governments of Kenya and the DRC to promote trade and investment relationships.
The Democratic Republic of the Congo, whose application to join the East African Community bloc was approved in principle this week, has a population of 93 million (almost double that of Kenya), with 45 percent of the population living in cities, which offers consumption opportunities.
Equity – through its Kenyan branch and its DRC subsidiary EquityBCDC – is looking for opportunities to fund businesses in four DRC cities: Kinshasa, Lubumbashi, Goma and Mbuji Mayi.
“This trade mission was organized with the sole aim of developing trade, tourism and investment opportunities in the Democratic Republic of the Congo – and it is already bearing fruit,” said Celestin Mukeba, Managing Director of EquityBCDC. (NMG)
“With this growing wealth in mind, Equity has brought more than 300 Kenyans to four cities in the Democratic Republic of the Congo to network and mediate.”
Equity has pointed out the strategic importance of the DRC subsidiary for its future growth.
Equity was first introduced in the Democratic Republic of the Congo in September 2015 after a 79 percent stake in SME-focused ProCredit Bank was acquired as part of a $ 4.5 billion share swap deal , 8 million shares were issued to investors in the subsidiary.
Equity followed last year with the acquisition of 66.53 percent of the shares in BCDC.
The Democratic Republic of the Congo is the sixth largest export market for Kenyan goods, supported by historical trade links and direct flight connections between Nairobi and the Democratic Republic of the Congo in Kinshasa and Lubumbashi.