- published: 22 May 2014
- views: 59364
http://www.ifc.org/financialinclusionafrica - Banks generally consider poor customers too risky and too expensive to serve. Employing an innovative business model of agent banking and biometric technology, micro-finance bank FINCA is bringing formal financial services to the poor in the Democratic Republic of Congo. Even low income people now have a safe place to save money, earn interest and manage economic decisions.
► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs The FT's east Africa correspondent Katrina Manson travels to Inga to report on the Democratic Republic of Congo's plans to build the Grand Inga, the world's biggest hydropower dam. The $50bn project, which will boost the copper sector and alleviate blackouts, will take decades to build. ► FT World News: http://bit.ly/1Exp0iJ ► FT Business: http://bit.ly/1KUK08s For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
In the Democratic Republic of Congo, a country characterised by poverty and unemployment, music and dance are key outlets. The FT’s East Africa Correspondent Katrina Manson explores how pleasure dulls the pain of living in the capital, Kinshasa. For more video content from the Financial Times, visit http://www.FT.com/video Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
EUOBSERVER / STRASBOURG (6 July) - "We want to avoid a post-electoral situation like in the Ivory Coast," says Congolese MP Medard Mulangala, who heads the main opposition party in Congo, the Union for a Republican Majority. Tipped as a major candidate in the presidential elections due in November, the Congolese politician is in Strasbourg this week for talks with MEPs about EU funds being allocated to the Democratic Republic of Congo to ensure smooth and transparent elections. By Méabh Mc Mahon http://euobserver.com/
Finance Minister of DR Congo tells journalists at the 2011 Annual Meetings of the World Bank-IMF in Washington, DC, that DR Congo' will post GDP growth of 6.8 percent in 2011, down slightly from 7.2 percent in 2010 and looks to regional investments in agriculture, agribusiness, energy and other infrastructure projects to create jobs, stem inequalities, and tackle regional challenges. As chair of the Caucus of African Finance Ministers and central bank governors, he also calls on IMF reform to expand representation on the Fund's Board to a third African executive director.
WASHINGTON (CI Africa) -- The Republic of Congo is in talks with the US financial group Citigroup and Standard Bank of South Africa to establish local banks of the two international groups, Economy Minister Gilbert Ondongo told Capitol Intelligence in a Google Glass interview. . At present, the Republic of Congo has a mere dozen of banks, the minister said, and the government is keen to see the establishment of the nation’s first investment bank. The Congolese government would also like to see the foundation of a national development bank with the help of international institutions, he added. These efforts come as part of a drive to diversify the economy in order to reduce its dependence on oil, the minister said. He said that he hopes major oil companies such as Chevron and ExxonMobil w...
Congo lawmakers are convinced the stimulus package will give Congolese the assault weapons they need to obtain clothes, food.
Jean Jacques Purusi Sadiki of the Democratic Republic of Congo's Ministry of Employment, Labor, and Social Welfare, says his country has all the natural resources it needs to create jobs and a strong economy -- but a lack of leadership gets in the way. Good governance, combating impunity, and the rule of law are all lacking in the DRC he says, but will only be solved by action from within the country -- not by the United Nations or other countries. He cites Liberia as an example of how a country can fix its own economic issues through good leadership. One place the DRC may find this leadership is in its diaspora of 7 million Congolese living abroad. 90 percent of these people have at least a master's degree, and some are returning to help the country grow.
“La Sape” is a unique movement based in Congo that unites fashion-conscious men who are ready to splurge money they don’t really have on designer clothes. Dressing in stark contrast with their surroundings, these elegant ambiance-makers become true local celebrities… but this fame comes at a price. The Republic of the Congo in Central Africa can’t boast of high standards of living. Yet, there are men here who are prepared to spend a fortune on designer suits. They call themselves “sapeurs” – members of the “La Sape” movement. “La Sape” comes from French and stands for “The Society of Ambiance-Makers and Elegant People”. For its adherents, it’s all about style and elegance, the right combination of colours and textures, brand-names and the highest quality materials. They derive true joy fr...