• Belgian investor Victoria Equity injected $6.2M loan, proposing share conversion that would dilute State control.
• Minister Bussa urges matching funds to avert dilution, aligning with President Tshisekedi’s call for active State asset management.
• Reopening of 387-room La Tour in Sept 2025 expected to double company's market value, making State's investment strategic.

On July 25, Jean-Lucien Bussa, Minister of Public Portfolio for the Democratic Republic of Congo, requested $6 million in funding during the 53rd Council of Ministers meeting. This funding aims to protect the government’s stake in Grands Hotels du Congo SA, a joint venture with private investors facing potential shareholder imbalance.

Founded in 1968, Grands Hôtels du Congo SA is owned jointly by the government and private investors. The Congolese government, through the Ministry of Portfolio, owns 47%, while CNSS, LAC, and SNCC each hold 1%. Belgian investor Victoria Equity controls the remaining 50%.

The company owns two major properties in Kinshasa: the operational Pullman Hotel (formerly “Cube”) and La Tour, a 387- room hotel that has been inactive for years due to funding issues.

Recently, Victoria Equity injected a $ 6. 2 million shareholder loan into La Tour. Since there was no matching contribution from the State, the investor proposed converting the loan into shares, which would reduce the government's influence in company governance.

Minister Bussa warned that this conversion could disturb the current ownership balance. He urged the government to release $6 million to match the private investment, preventing dilution of public control.

Bussa aligned his request with President Félix Tshisekedi's call for active management of state-owned assets. At the 5st Council of Ministers, Tshisekedi criticized the marginalisation of State interests in joint ventures and promoted stricter oversight of public shareholdings.

This approach aligns with recommendations from the Estates General on the Public Portfolio held in December 2024, which called for revitalising undervalued public assets, especially in sectors like tourism.

Bussa stated that the investment was both a defensive and strategic move. He mentioned that reopening La Tour, scheduled for September 2025, would greatly increase the company's value. With 387 rooms, La Tour is expected to double the company's market value. Bussa emphasised that delaying action could cost the State influence and future financial benefits. 

This article was initially published in French by Boaz Kabeya (intern)

Edited in English by Ange Jason Quenum