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
NSIA Banque CI securitized bonds begin trading on BRVM First multi-currency deal in UEMOA, fully subscribed Proceeds to boost SME lending,...
Ecobank Côte d’Ivoire reports revenue and profit growth in 2025 Deposits, loans rise; shareholders approve dividend payout Bank targets...
More than CFA1,000 billion received via mobile money in 2024 Total inflows rise 77% to CFA1,354 billion, led by Europe and North...
New SME Growth Fund aims to improve access to long-term capital Initial $30 million could scale up to $100 million over time SMEs remain...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
05

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
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.