The first-ever Kinshasa Economic Forum occurred in March 2023 which included the DRC, the EU and, most notably, France. The leaders of both DRC and France, Presidents Felix Tshisekedi and Emmanuel Macron, respectively, met at the forum alongside multiple international investors and CEOs. The meeting took place at the Palace of the Nation in Kinshasa.

Discussion on Conflict

First, Macron condemned the ongoing conflict occurring in the DRC and the M23 rebel group, saying that there will be sanctions in place for any party who supports the group. The EU also announced at the Kinshasa Economic Forum that they would be setting up a humanitarian air bridge to help the hundreds of thousands of people displaced by the conflict in Eastern DRC, to ensure that aid can reach those who are harder to reach.

The violence between government and non-government groups has been a significant ongoing issue that has, as previously mentioned left many Congolese people in the eastern region displaced. The UNCHR reported that in February, 200,000 people had to flee their homes in the province of North Kivu. A total of 800,000 people experienced displacement between March 2022 and March 2023 alone. The EU has given about 47 million euros in humanitarian aid to the DRC.

Discussion on Other Investments

Though there was a focus on conflict as this is currently the most pressing issue in DRC and an important factor that has impacted the growth of the economy, people discussed and pledged on other matters in the Kinshasa Economic Forum as well.

The European Union (EU) announced that it would invest 50 million euros into DRC’s mineral sector and its infrastructure. DRC’s mineral sector is a key part of their economy. In 2020, the DRC was the largest cobalt miner in the world, producing 41% of the globe’s cobalt. The DRC’s copper industry is also growing, with the nation having some of the highest-quality copper reserves in the world. Despite the drawbacks that the COVID-19 pandemic brought and ongoing conflict in the DRC, their mineral sector proves to be of great aid to their economic growth. The EU’s investment in this sector will prove to be of great help to ensure further expansion of the DRC’s mineral sector. Many investors are also interested in the DRC’s mineral sector, notably American firms, seeing potential in DRC’s mineral market which is worth trillions of dollars.

Concluding Thoughts

The Kinshasa Economic Forum, though being the first of its kind, brought together many people to see the potential to help the DRC in different ways. With international investors tapping into the potential that the DRC mineral sector has, and Macron wants to see an end to those supporting those who are playing a role in conflict and the EU wants to provide aid to those who need it the most.

– Christelle Wealth-Mukendi
Photo: Flickr