Congo | - Part 4

Congo | Moody’s downgrades Republic of the Congo’s rating to B1

Brazzaville, Congo, Capital Markets in Africa — Moody’s Investors Service has today downgraded the Republic of the Congo’s (ROC) issuer rating to B1 from Ba3 and placed the B1 rating under review for further downgrade. The downgrade reflects the severe deterioration in the government balance sheet caused by the significant fall in oil prices, which Moody’s expects to remain low for several years. The purpose of the review for further downgrade is to allow Moody’s…

AfDB approves US $22.5-million to improve investment climate and forest governance in Congo

Posted on by The Editorial Team

Abidjan, Cote d’Ivoire (Capital Markets in Africa) — The Board of Directors of the African Development Bank Group (AfDB) on Wednesday, July 1, 2015 approved a US $22.5-million loan to the Republic of Congo to help finance the country’s Investment Climate and Forest Governance Support Project (PACIGOF). The project aims to promote robust and inclusive growth by improving the business climate and diversifying the Congolese economy. It will strengthen the capacity of private sector support…

Governor of Congo mining hub Katanga warns against tax hikes

Posted on by The Editorial Team

LUBUMBASHI, DRC (Capital Markets in Africa): – The powerful governor of Democratic Republic of Congo’s Katanga province warned on Wednesday against significant tax hikes in a proposed new mining code amid a recent decline in copper prices. The southeastern province accounts for nearly all of the vast central African state’s copper production, which surpassed 1 million tonnes for the first time in 2014. Congo vies with Zambia to be the continent’s top producer of the metal. A…

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