On February 2, head of government of DRC Augustin Matata Ponyo said the fall in prices of commodities could compromise funding of upcoming elections, the presidential included. This implies that the fall could allow actual President Joseph Kabila to remain in power beyond December 2016 where elections are to take place.
“If the price of copper falls to $2600 per ton and barrel of oil to $10, and also if all mining companies close (…) we won’t finance the elections with the population’s money,” Matata Ponyo told a press conference. The head of government also said these prices would “drop further” in 2016 as a result of weakening demand which will have“direct impact” on the country’s revenues.
According to the electoral commission, the revision of electoral register should cost $1.2 billion.
Regarding the staying in power of actual President Kabila, it should be recalled that subsequent to his re-election in 2011, a wave of killings arose in 2015 following protests by the population against the implementation of a legislation which would have allowed the president to extend his mandate by postponing the elections in 2016.
Joseph Kabila came into power in 2001 after the assassination of his father, Laurent-Désiré Kabila, during Congo’s second war before being elected for his first mandate in 2006. Re-elected for a second mandate in 2011, opposition contested elections saying they were fraudulent thus the current crisis it experiences.
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
Algeria plans to launch construction of the $13 billion Trans-Saharan Gas Pipeline (TSGP) a...
Kenya raised $2.25B via dual-tranche Eurobonds to buy back 2028/2032 debt, luring investors w...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
Sonangol to expand into uranium and lithium Company posted over $750 million 2025 profit Angola targets $2 billion non-diamond mining...
Pupils to receive unique school identification numbers Program aims to modernize education data management Guinea’s Ministry of National Education...
Burkina Faso signs $147 million US health deal Funding targets HIV, malaria and health security Malaria cases fell 32% in 2025 Burkina Faso...
Bankable, an online outlet covering economic news in the Democratic Republic of Congo, will publish an exclusive interview Friday, Feb. 27 with Olivier...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...