Rawbank announced in a statement dated 23 July 2025 the appointment of Françoise Lungangi Kitundu as an independent director, with the approval of the Central Bank of Congo (BCC). She has also been appointed Chair of the bank’s Audit Committee and now sits on the Remuneration Committee. The purpose of this appointment is to strengthen the oversight and governance bodies of the country’s leading bank.

In her new role, Ms. Lungangi Kitundu will support the Board of Directors in its oversight functions. She will be particularly responsible for assessing the quality of the internal-control framework, overseeing internal audits, monitoring the preparation of financial information, supervising the statutory audit of the annual accounts, and reviewing the independence of the external auditors.

These responsibilities become strategically important in an environment of stricter regulation. Articles 170 and 174 of the Banking Law of 2022 specify severe penalties for breaches, particularly concerning the fight against money laundering, terrorist financing, and the proliferation of weapons of mass destruction. Directors could face fines ranging from 500 million to 2 billion Congolese francs (approximately USD 175,000 to USD 700,000) as well as prison sentences of up to one year.

Since October 2022, the DRC has been on the Financial Action Task Force (FATF) grey list. The country has pledged to enhance the transparency and compliance of its financial system, with the goal of being removed from the list this year. In this context, improving the governance of financial institutions is a key priority. The appointment of an independent director to lead Rawbank’s Audit Committee is part of these efforts to achieve compliance and strengthen the credibility of the national financial system.

“Exceptional profile”

Holding a Bachelor’s degree in Commercial and Financial Sciences, specialising in Financial Management and Accounting, from the Higher Institute of Commerce in Kinshasa (now the Higher School of Commerce), Ms Lungangi Kitundu is recognised for her expertise in auditing, statutory financial certification, and financial advisory services. Her appointment complies with the competence and independence requirements established by the BCC for members of audit committees.

A chartered accountant, she is the managing partner of DRC Expertises, a member of the National Order of Chartered Accountants (ONEC/DRC), and of the Institute of Chartered Accountants (IRC/DRC). She has also held senior roles at GPO Partners, an international firm specialising in audit, taxation, and advisory services.

The Chair of Rawbank’s Board of Directors, Isabelle Lessedjina, welcomed the appointment, describing Ms Lungangi Kitundu as “an exceptional profile”. “Her career has led her to support private companies, public institutions and international projects in key sectors such as finance, natural resources, health and economic development,” the bank stated in its release.

Initially written in French by Timothée Manoke, intern

Adapted and edited in English by Idriss Linge