The Independent Uganda: You get the Truth we Pay the Price
Kinshasa, DRC | THE INDEPENDENT | Equity BCDC Managing Director, Willy Mulamba, has painted a rich picture of DRC’s economic potential for delegates attending the 3rd trade mission to the Democratic Republic of Congo from Kenya, Uganda and Tanzania.
“DRC is a country rich in resources and opportunities and we as Equity are committed to be the catalyst of growth for your investment into this market. Your Bank, my Bank, our Bank EquityBCDC is a strategic partner in this mission. We have extensive experience in financing infrastructure, agriculture, and many projects in technology that are essential to our countries’ economic prosperity and growth,” he told the over 200 entrepreneurs.
He said the bustling city of Kinshasa is everyone’s dream investment destination if the population of the city is anything to go by.
With a combined population of 30 million people in the western region alone, the metropolis that accounts for almost 20 million of that number makes it an attractive investment market for manufacturing, logistics, food supply, logistics and health provision.
Presenting the EquityBCDC profile, the managing director discussed the multiplicity of ownership of the company, noting Equity Group Holdings Pls as majority shareholder with close to 65% stake in the company and DRC government as strategic shareholder alongside the International Finance Corporation (IFC).
EquityBCDC operation in the vast country has necessitated division of the country into five regions, with West where the city of Kinshasa is situated. The others are South Region, Central Region, Northern Region and Western Region.
“The South in Katanga is where we have all the mining activities. It is the region where we have strategic natural resources to deliver solutions for the entire Africa and indeed the globe,” he said, illustrating how Equity delivery of services is diversified through almost 8,500 agencies and 76 branches. “We have a strong capital base and although we have a customer base of 2.4 million in a country of over 100 million, we don’t believe that is where we want to be,” said the MD, adding that through the Africa Recovery and Resilience Plan, the goal is to raise the figure to 30 million in DRC.
Discussing the expanse of Kinshasa and the opportunities in the DRC capital, EquityBCDC Deputy Managing Director for the Western Region, Timo Ntoto, said the entire area stretching from Bandundu and Bakongo including metropolitan Kinshasa is widely diversified.
“Kinshasa is the administrative capital and is very diversified with manufacturing providing vast opportunity for investors. The 30 million residents have to be fed every day, so there is an opportunity there for supply of food, even though we have robust producers of food in Bakongo. With the millions of inhabitants, there are also opportunities in logistics. We have the ports of Matadi, the port of Boma and a deep seaport is under construction in Moanda region and that is why Fast-Moving Consumer Goods, FMCG trade the leading sector followed by manufacturing,” he said.
Speaking at the plenary of the National Agency for the Promotion of Investments (ANAPI), Michel Maswapu, Director of Investments ANAPI said micro, small and medium enterprises are a key focus of financial support that EquityBCDC can engage.
“Financing of MSMEs is necessary because the sector is a leading employer in the country. The ANAPI is the advisory body to the central and provincial governments of the DRC for promoting investment and improving the business climate. It assists both domestic and foreign investors throughout the investment process, before, during and after investment,” said Maswapu.
He noted ANAPI plays a key role in supporting business, adding: “ANAPI’s mandate includes improvement of the business climate and offers investors like yourselves the information you need to know. We study the market to know what may hinder realization of your goals. We also promote the image of the country and directly promote DRC investment destination of like no other.”
The delegates attending the meeting had the opportunity to introduce themselves in person and identify the sectors of interest for business-to-business sessions that were also used as information circles for Equity staff present to provide the information required and deepen relationships between the delegates and EquityBCDC.
Equity Group Director of Trade Relations, AQ Hamza, told the delegates to use the relationship with the bank to get find partners to grow their businesses.
“Part of our role is also to help you expand to the other markets. We are not here just to usher you in DRC. We are here to encourage the Congolese too to also venture in the region. We are here to connect the Congolese with those of you who need to enter into contractual agreements and grow your businesses,” he said.
EquityBCDC administration is divided in 5 regions with Kinshasa situated to the western tip of the country.
