• Telecom companies in the Democratic Republic of Congo (DRC) must open 25% of their capital to local investors by July 2027.
• The measure retroactively halves a ten-year compliance moratorium, affecting 30% of company shares.
• Telecom sector revenues in DRC reached $2.09 billion in 2024, with Vodacom Congo reporting $715.2 million in sales.

The Democratic Republic of Congo’s telecommunications sector is growing, led by operators such as Airtel, Africell, Vodacom, and Orange.

Telecom firms now have until July 2027 to allocate 25% of their share capital to local investors. Authorities cut in half, retroactively, a ten-year moratorium initially granted to companies for compliance with regulatory requirements, according to a decree signed February 27 by José Mpanda, Minister of Posts and Telecommunications, and published on social media March 9.

The move follows January recommendations from President Félix Tshisekedi on enforcing Article 40 of the telecommunications and ICT law, which also mandates 5% of capital for company employees, to be implemented within five months. Overall, 30% of telecom capital is affected, with at least 25% required to be held by Congolese individuals or entities controlled by Congolese nationals. The subscription must occur within three years from company incorporation.

Tapping a Growing Sector

Opening telecom capital to local investors aims to distribute economic benefits more broadly within the country. DRC’s telecom sector revenues rose nearly 9% to $2.09 billion in 2024.

Vodacom Group reported FY 2025 revenue of 152.2 billion rand ($9.3 billion), up 1.1%, with a 620-cent annual dividend per share. Its Congolese subsidiary, Vodacom Congo, posted $715.2 million in revenue, a 9% increase.

President Tshisekedi noted in the January 30 Cabinet meeting that delays in implementing the 5% employee allocation "deprive workers of legally recognized rights, maintain governance imbalances, and weaken social dialogue."

Most DRC telecom firms are foreign-owned. Vodacom Congo is 51% owned by Vodacom Group and 49% by Congo Wireless Network, controlled by Gambian businessman Allieu Conteh. Orange RDC is fully owned by France’s Orange Group, Airtel Congo RDC by India’s Bharti Airtel via Airtel Africa, and Africell RDC by U.S.-based Africell Group.

This article was initially published in French by Isaac K. Kassouwi

Adapted in English by Ange J.A de Berry Quenum