Public Management

DRC: the Agriculture Sector Emergency Recovery Program will cost $1 billion

DRC: the Agriculture Sector Emergency Recovery Program will cost $1 billion
Thursday, 18 May 2023 17:27

Less than 10% of DR Congo’s arable lands are cultivated, despite the country being among the African nations with the greatest agricultural potential. This is because the country strongly depends on imports to meet its food demand.

In the Democratic Republic of Congo (DRC), the Agricultural Sector Emergency Recovery Program will cost over $1 billion. This was disclosed by the country's Vice Premier, Vital Kamerhe. The program aims to boost food production to avert shortages ahead of the next agricultural season.

The program targets 12 staple crops, including corn, rice, wheat, sorghum, cassava, potatoes, sweet potatoes, peanuts, beans, cowpeas, soybeans, and bananas. DRC currently faces a corn supply crisis that's causing prices to go up, primarily in the Katanga and Kasai provinces. 

Local corn production meets only 25% of the country’s demand. Besides this, the other reason for the corn shortage is Zambia’s decision to halt exports in April, to preserve its reserves. Zambia is DRC’s closest supplier.

The Congolese government, to alleviate the crisis, took several measures, such as suspending import duties and taxes on corn and flour for six months, and importing more from South Africa. 

Agriculture contributes 19% of the DRC’s GDP and employs about 55% of the active population.

Stéphanas Assocle

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Tanzania’s central bank has taken a stake in Africa Finance Corporation The move gives access to long-term infrastructure financing and technical...
BOA Senegal net profit rises 10.1% to 21.9bn CFA francs Growth driven by higher banking income and controlled loan losses Bank maintains dividend as...
Côte d’Ivoire raises 110bn CFA francs, meeting full target Investor demand hits 291bn CFA francs, nearly threefold oversubscribed Strong...
Three insurers placed under administration for failing solvency requirements Policyholders’ Compensation Fund takes control of...
Most Read
01

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
02

CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...

Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
03

Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...

Telecel Ghana plans 150% investment increase in MTN-dominated market
04

ECOWAS is proposing a regional digital platform for passengers to file and track complaints online...

ECOWAS Considers Regional Platform to Enforce Air Passenger Compensation
05

World Bank announces $137 million to boost West Africa digital economy Program expands broad...

Benin, Liberia and Sierra Leone Receive $137M to Expand Digital Access for 5.2 Million People
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.