DRC commits to rebuilding its image to an investment destination

Despite the widely pronounced conflicts hampering economic development in the Democratic Republic of Congo or DRC, the country is working on rebuilding its image to becoming one of the preferred investment destinations in Africa.

The central African country is specifically looking at drawing inspiration from its African neighbors and international experts, through a forum scheduled to take place in the country's capital Kinshasa on September 6-7.

The annual event in its fifth edition is expected to bring together 500 CEOs, opinion leaders, institutions, private and public actors from 20 African and other countries.

The participants will discuss the innovative levers needed for the growth and competitiveness of the DRC. This is addition to the strategic options that the country should embrace in the face of the major global changes like artificial intelligence, climate change, energy mix and transition as well as building a sustainable economy.

Themed, innovate to boost the growth and competitiveness of DRC, the forum is aimed at giving the participants a platform to think outside the box and identify innovative axes adapted to the economic, geographical and cultural ecosystem.

Anthony Nkinzo, the general manager of the National Agency for Investment Promotion, said Congolese are committed to changing the image of the country and are talking about its great assets instead of its challenges.

"Many people out there are not aware that DRC is endowed with an abundance of rare mineral resources like diamond, gold, copper, cobalt, zinc, manganese and coltan. The country also has very rich forest resources and more than 120 million acres of fertile land suitable for agriculture," he said.

Nkinzo said the government must make a concrete commitment to improve the business climate, infrastructure, access to energy, education and training, as well as work on a public-private pact to realize the country's economic development.

He said through the previous forums, they have attracted the attention of politicians and economic actors on the vital priorities for the country.

They have also raised the voice of the new generation of entrepreneurs who have demonstrated another way of doing business, which is more collective and ultimately beneficial to all the compatriots.

"We believe that we are redefining the notions of accountability, responsibility and exemplarity that any leader must embody today. We transmitted our recommendations by lobbying to the various authorities. All of this makes Makutano count today," he said.

Yves Kabongo, the general director of KBG Capital, a private equity firm focused on investing in natural resources sectors, has attended all the last four sessions of the forum, benefitting from getting high level business contacts.

"In our field, it's not just about what you do and how you do it, but who you are. The one-on-one side events, have given me excellent opportunities to build new business ties and consolidate the existing ones," Kabongo said.

Through the upcoming forum, he looks forward to broadening his business spectrum by learning new concepts from the experiences of other entrepreneurs.

He said such kind of high level conferences, help participants to essentially gather as much information as possible, allowing them to properly steer their own businesses in the right direction.

"Many participants' expectations include: acquiring the know-how and broadening the network to increase companies' general management capabilities, specifically in IT, operations, business development, mergers and acquisitions, tax, and finance among others," Kabongo said.

The successful outcome of the Makutano forum is sweet music to the ears of Nicole Sulu, the founder of Makutano network, which is behind the forum.

Created with the ambition of bringing together private actors and public authorities, the network has federated a new generation of business leaders who are mobilized throughout the year to meet the socio-economic challenges of the DRC.

The idea was born after Sulu realized that, it was hard for the Congolese to work together or trust each other, a situation she termed as a real obstacle to the re-appropriation of the economy by the nationals.

"By observing the different DRC communities, I realized that the majority of them worked in solidarity networks and that we were almost the opposite. The goal of Makutano was thus to create a space for meetings and debates," she said.

She said Makutano, which means meeting in Swahili, was dedicated to Congolese entrepreneurs to get to know each other, identify their mutual know-how, share their ambitions, and to do business together.

"When I established it, nobody believed it will succeed. It was hard to gain trust. The success was however immediate, thanks to the new generations of 40-year-old business leaders who immediately supported my vision," she said.