This archive report was first published on 21 December 2021.
Kenya-DRC Trade Mission Concludes in Mbuji-Mayi ¶
On 29 November, the Kenya-DRC Trade Mission kicked off in Kinshasa, with the final leg taking place in Mbuji-Mayi, a town 1,600 kilometers northwest of the capital. The mission was a culmination of a bilateral agreement signed by President Uhuru Kenyatta of Kenya and President Felix Tshisekedi of the DRC in April 2021.
At the official opening of the final leg in Mbuji-Mayi, Governor Kasai Oriental Province, H.E Jeanette Musuamba, hailed the mission as a milestone for development and praised the choice of Mbuji-Mayi as the final leg. She expressed gratitude for the delegation's arrival and highlighted the historic moment, stating that the Trade Mission showed that Kasai had potential and had given the people hope that together they could explore avenues for business development.
EquityBCDC's decision to choose Mbuji-Mayi as the final stop for the Trade Mission was a clear indication that the Bank was a great catalyst of development in the Great Kasai region, according to Governor Musuamba. She shared a comprehensive profile of the province, illustrating the opportunities for investment in infrastructure development, agriculture, mining, tourism, energy, internet connectivity, water utilities, and other sectors.
With a population of 55 million people, the Governor emphasized that employment could be created by stimulating production through consumption. She highlighted the tropical climate conducive to farming, with most of the land being arable, and the potential for farming to enable the DRC to achieve food self-sufficiency.
Beyond agriculture, the Governor mentioned the mining of diamonds, iron, gold, cobalt, and other minerals, which provides a lucrative investment opportunity. She added that the demand for suitable housing remains insatiable, and that serious exploitation can be explored for processing diamonds and other minerals at an industrial level.
However, Governor Musuamba noted that these opportunities come with challenges, including transport and reliable energy. She urged investors from both the DRC and Kenyan entrepreneurs to work with EquityBCDC, which has already established itself as the largest financial institution in the province, despite the challenges.
“To invest, be ready to tackle challenges. There is the challenge of electricity or more particularly lack of it and poor roads that inhibit transport to and out of this province. These challenges are not insurmountable given the benefits that are certain upon investment,” said H.E Dieudonne Piemme, Governor Kasai Province.
Equity Group Chief Commercial Officer, Polycarp Igathe, implored delegates to take advantage of the physical attendance of the meeting by the Kenyan delegates to connect. He emphasized that by partnering together, they can solve challenges that affect the African continent, including hunger, health issues, and poverty, by allowing businesses to be the driving force for continental change.
Equity is looking forward to hosting DRC business leaders on a similar mission to the Kenyan cities of Nairobi, Mombasa, Nakuru, and Kisumu in early 2022 to seek cross-border opportunities for investment for the benefit of developing the two countries.
