DRC banking system at risk

Weaknesses in the
Democratic Republic of
Congo’s banking system put
companies doing business with
the country at risk, warns the
International Monetary Fund
(IMF) in its October country
report on the DRC.
It describes the DRC as “a
difficult business environment
with an uncertain application of
the rule of law combined with
the lack of diversification of
the economy, limiting potential
demand for financial services”.
But despite the challenges,
the economy has been growing
“vigorously” and inf lation is
now in single digits.
GDP growth is estimated to
have been at 8.5% in 2013, and
is projected to be over 8% for
2014.
Mining sector activities are
the driving force for growth,
with public sector investment,
agriculture and manufacturing
also helping to broaden the
economic base.