DRC woes UAE investors to tap into its vast mineral resources sector

President His Highness Sheikh Mohamed bin Zayed Al Nahyan (right) with Felix Tshisekedi, President of the Democratic Republic of the Congo Image Credit: UAE Presidential Court

KINSASHA - The Democratic Republic of Congo is inviting investors from the United Arab Emirates to tap into the country’s vast investment opportunities. From mining to agriculture and fishing, to health, DR Congo is the global center of billion-dollar focus sectors.

This was revealed by Trade Minister Jean Lucien Busa while speaking at the ongoing Annual Investment Meeting 2023 in Abu Dhabi, top government officials from DR Congo said the country’s ongoing legal and tax reforms are making the country ready for business.

Mr. Bussa singled out the country’s young population and a border giving access to nine countries as key selling points as a top investment destination. “We are eliminating non-tariff barriers,” Mr Busa.

Attract huge vessels cruising from Asia and Europe Since the ascension of Felix Tshisekedi to the presidency in 2019, his administration has set out to attract international investors, raising hopes for growth, Mr. Busa said.

Already, the UAE has been growing presence in DR Congo. In February 2022, logistics giant DP World started the construction of Banana Port, on the Congo River near the capital Kinshasa.

The port is projected to attract huge vessels cruising from Asia and Europe, boosting DRC’s connection with international supply chains.

The project includes the construction of a deep-water port, container terminals, and other critical logistics infrastructure.

Featuring the latest technologies, DP World is building a 600-meter quay with an 18-meter draft, fit to handle giant vessels. Banana Port will have a container handling capacity of about 450 000 TEUs (20-foot equivalent units) per year, and a 30-hectare container yard.

Transform Banana Port into a modern logistics hub Overall, DP World aims to transform the Banana Port into a modern logistics hub, facilitating international trade and attracting investment to the region.

The port, roads, and railway system are part of DRC’s new investments in infrastructure that are meant to enhance investments in other sectors, the country explained to investors.

In 2018, DP World signed an agreement with the government of the DRC to develop and operate the Banana Port. The natural resource sector has historically attracted the lion’s share of foreign direct investment in DRC.

With over 1,500 minerals including copper, coltan, diamond, and nickel, the extractive sector might see investors from the UAE spoiled for choice.
Globally, the DRC controls a vast mineral resource, including lithium and cobalt. Lithium is used in the production of lithium-ion batteries in the electric vehicles industry which is projected to hit over $850 billion in 2027.

The Annual Investment Meeting has attracted participants from 170 countries for its 12th edition in Abu Dhabi City, UAE.

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