DRC IS A STRATEGIC COUNTRY TO DO BUSINESS WITH – MAJOLA

DRC IS A STRATEGIC COUNTRY TO DO BUSINESS WITH – MAJOLA

The Deputy Minister of Energy in South Africa, Ms Thembisile Majola says the Democratic Republic of Congo (DRC) is a strategic country to do business with. Majola was speaking at the business seminar held in Kinshasa as part of the 7^th Investment and Trade Initiative (ITI) to the DRC, yesterday. The ITI is organised by the Department of Trade and Industry (the dti) as one of the South African government’s initiatives to increase trade between the two countries.

According to Majola the DRC and SA share a very important relationship which is sealed by the commitment in the Bi-national Commission and a number of agreements in place to support trade and grow both economies.

“South Africa regards the DRC as a strategic market and partner due to the enormous potential that exists between the two countries driven by the mining, reconstruction of roads and energy infrastructure as well as the impact of the agricultural campaign launched in 2012. Notwithstanding the global challenges the DRC’s economy has remained strong with the Gross Domestic Product (GDP) growth of 8.6% in 2014,” added Majola.

She highlighted that the business opportunities brought on by the many projects in the DRC including the Grand Inga project call upon businesspeople to work hard to enhance relations.

Majola also said that South Africa was one of the promising markets in the world and had created a conducive environment for world partners. According to her, the country offers opportunities in the energy, Information and Communication technology, beneficiation and agro-processing sectors, among others.

The Minister of Economy in the DRC, Mr Modeste Bahati urged South African businesspeople to take up existing opportunities in the DRC. He said though there might be challenges of infrastructure in the country, businesspeople should come to the DRC and help the country to emerge.

Bahati said the South African businesses should not focus only in Katanga province, but should explore the many opportunities that lie in the other provinces of the DRC. He highlighted that the DRC had put in place legislation to assist investors to set up in the country, including the incentive framework, the one-stop shop for registration of businesses as well as frameworks for investor protection. Furthermore he invited South Africans to be part of its emerging story as it pursues its growth strategy towards 2030.

Under the leadership of DM Majola, South Africa reiterated its commitments in advancing Africa’s growth story towards industrialisation and regional integration. In this regard she encouraged businesspeople to work together to ensure that there are mutually beneficial partnerships citing potential partnership and joint ventures in a number of sectors including, infrastructure, energy, services and manufacturing .