The Democratic Republic of Congo DRC is set to attract “modern investors” to develop its $24 trillion of untapped mineral deposits in partnership with Congolese companies, the leader of its private sector regulatory body told the mining industry at the 30th annual Mining Indaba in Cape Town, South Africa.
The Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), Miguel Kashal Katemb, told newsmen that the “DRC is open to all investors” but is looking to partner with “modern investors” who can support the country’s economic development. With a responsible approach, Mr Miguel Katemb assured the mining industry that future investment in the DRC can be a “win-win” for both investors and the Congolese people.
According to Katemb, ARSP connects mining investors with Congolese partners who provide market access and resources in exchange for ensuring Congolese participation in the mining value chain, supporting freshly re-elected President Félix Antoine Tshisekedi’s pledge to deliver more jobs and promote entrepreneurship. In regulation introduced recently, 51% of secondary activities, or sub-contracts, in the mining industry must be held by Congolese companies – an effort to ensure the benefits of the country’s vast mineral wealth are shared by everyone.
“We have many big investors in the DRC already, but we need modern investors. We are looking for investors who can help to build a new world for the Congolese people, where the social and economic benefits of investments are shared widely.”
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Citing Canadian mining giant Ivanhoe Mines as a prime example of a “modern investor” that the DRC is looking to partner with, Mr Miguel Katemb was clear that there would be “cake for everyone” in the future development of the country’s vast mining resources.
Distributed by APO Group on behalf of Regulatory Authority for Subcontracting in the Private Sector (ARSP).
About the Regulatory Authority for Subcontracting in the Private Sector (ARSP):
The Regulatory Authority for Subcontracting in the Private Sector, or Authorité de Régulation de la Sous-traitance dans le Secteur Privé (ARSP), is a public regulator created by Presidential Decree No. 18/019 that regulates subcontracting activities in the private sector. It enables inward investment across all sectors of the economy by connecting investors with Congolese partners, aiming to create a Congolese middle class by ensuring that Congolese companies benefit from investment in the country.
Source: African Press Organization
