The Central African nation has signed a cooperation agreement with the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, to support the creation of the Kinshasa Stock Exchange (KSE), a project that would give Congolese companies a formal platform to raise capital while opening a new frontier market to investors.
The move comes just months after the DRC raised $1.25 billion through its debut Eurobond issuance, marking the country’s first-ever borrowing on international capital markets and signalling a broader push to deepen its engagement with global finance.
Finance Minister Doudou Fwamba Likunde Li-Botayi signed the agreement in Kinshasa alongside IFC Country Director Malick Fall.
According to the government, the partnership will focus on six key areas: developing the regulatory framework for the exchange, building market infrastructure, strengthening technical capacity, facilitating knowledge transfer, expanding the investor base and supporting the market during its early years of operation.
The agreement represents one of the most ambitious efforts yet to modernise the country’s financial system and reduce its dependence on traditional sources of funding.
From mining powerhouse to capital-market player
The DRC occupies a unique position in the global economy. It holds some of the world’s largest reserves of cobalt and vast deposits of copper, lithium, tin, gold and other minerals that are increasingly critical to electric vehicles, battery manufacturing and the global energy transition.
In 2024, the DRC accounted for roughly three-quarters of global cobalt production, cementing its position as one of the most strategically important suppliers of critical minerals to the world economy.
Yet despite its vast natural wealth, the country remains among the poorest in the world.
More than 70% of the population lives below the poverty line, while formal financial services remain out of reach for millions of citizens. According to World Bank estimates, fewer than four in ten adults hold a formal bank account.
For policymakers, the challenge has long been how to convert resource wealth into broader economic development. The proposed stock exchange is part of that effort.
Authorities believe a functioning capital market could help mobilise domestic savings, attract foreign investment, improve corporate transparency and provide businesses with alternatives to bank financing.
Following a broader African trend
The DRC’s push comes at a time when several African countries are seeking to deepen domestic capital markets and reduce reliance on foreign borrowing.
The development follows the launch of the Ethiopian Securities Exchange in January 2025, ending more than five decades without a formal stock market in Africa’s second-most-populous nation.
With Ethiopia’s exchange gradually attracting listings, policymakers across the continent increasingly view capital markets as a tool for mobilising long-term financing for infrastructure, industrialisation and private-sector growth.
Beyond its Eurobond debut earlier this year, the country has become a major destination for regional financial institutions seeking exposure to one of Africa’s largest untapped banking markets.
Over the past few years, banking groups including Access Holdings, FirstHoldCo, Ecobank, Equity Group, KCB Group and CRDB Bank have expanded their presence in the country, betting on long-term growth driven by a population of more than 100 million people, low banking penetration and abundant natural resources.
Source: Africabusinessinsider