BCDC is the oldest bank operating in DRC and speaks to GBR about its activities with the mining sector.
BCDC was founded in 1909, and as such is the oldest bank in the DRC. How has the institution evolved and what role does it play in the mining sector?
With more than 100 years of experience in Congo, BCDC is a long-lasting and a robust institution that inspires respect in the DRC and beyond. Despite regulatory constraints and economic situations, we have strong fundamentals and the profitability of the last years prove it by.
Through our expertise, BCDC is the partner of all major players in the DRC including the biggest mining projects. BCDC has played a major role in the mining sector for decades. Through our vast network located in the mining area and even within some mining sites, we provide the different banking services needed: facilities for the working capital, payroll solutions, follow-up on transactions and regulations…
What are some of the key services BCDC offers and how would you describe your role in the mining industry? Continue reading
GBR meets with MMG to discuss its operations in DRC and what needs to be done to improve the business environment.
Looking at the current situation in the DRC, what does MMG believe needs to happen for the country to recognize its full mineral potential?
We need more robust conversations on how to improve the business environment to get investors excited, specifically by discussing how to support the large industries by bringing in smaller industries. There are not many small industries currently active in the DRC; most of them are sitting across the border where there is a more conducive business environment. We need to support the capacity of smaller companies to supply consumables and other items into the mining sector to promote a healthier industry overall. It is not the job for the mining industry to do grassroots development of these industries, however, discussion needs to happen between the private sector and the government to change the regulatory framework to the benefit of all the different industries.
How does MMG approach its relationship with the government in the DRC and how can the private sector best assist in improving the conditions in DRC? Continue reading
Manono is finding a new life as a mining town after years of neglect.
By Graeme Johnston, Project Manager, AVZ Minerals – Manono
When touching down on Manono’s dusty airstrip, a leisurely 90 minute flight north of the DRC’s second largest city Lubumbashi (a hove of frenetic copper and cobalt exploration activity at the moment) you might be forgiven for thinking that you had arrived in the land that time forgot. Driving out of the airport, past the UN camp and into the main part of Manono can be unnerving to those like myself who have not spent much time in the centre of Africa. However, the incongruities of driving past various international aid outlets and NGO compounds into the wide, old fashioned Belgian mango tree lined boulevards with their elegant, but sadly, run down houses only serves to highlight the long history of colonial involvement in the country and its more recent turbulent past. Continue reading
MACIG Connect Series
Rawbank has grown rapidly since it began business in 2002 to become one of the largest banks in DRC and has an active participation with the mining sector.
Rawbank is celebrating its 15th year since it began in DRC in 2002. Can you give me a brief history of Rawbank, including any recent milestones the company has achieved?
We have been operating in the Grand Katanga (formerly Katanga zone) for 10 years and have since become the largest bank in terms of market share operating in DRC with a balance sheet of over $1 billion. The bank started by developing in three main markets: retail, corporate and private banking. The level of banking among the population was very low so Rawbank was interested to develop the retail and corporate market to increase the entrepreneurial spirit of the people and develop the economy. Due to the development of these two markets the private banking market also increased as a different economical class of people was created that wanted a banking product that effectively represented their standard of life. Foreign investments are also important in DRC, so Rawbank has developed the profiles of our employees to include English and Chinese speaking staff to target the clients currently investing in the country. Going forward, the growth strategy of Rawbank is to become the main bank responsible for international investments in DRC.
How important is the mining sector as a client to Rawbank and what role do you see the company playing in the sector in the future? Continue reading
MACIG Connect Series
Ivanhoe Mines describe the challenges and opportunities facing international investors in the DRC.
Could you please give us some insight into Ivanhoe Mines’ strategy for success in DRC and what we should expect from the company in 2018?
Ivanhoe Mines has been in DRC for over 10 years now, and exploration has been a main activity. Thanks to an exceptionally talented and disciplined team of geologists the Kamoa copper deposit was discovered by Ivanhoe Mines in 2008. Later in early 2016, Ivanhoe Mines discovered the Kakula deposit approximately 10 km south-west of the Kamoa deposit, making the combined discoveries together to be ranked the world’s largest, undeveloped, high-grade copper discovery ever made. We are now exploring Kakula West, which is also very promising in terms of its near-surface source of high-grade copper mineralization that could be incorporated into the early years of the Kamoa-Kakula mine plan.
We remain focused in expediting the development of the initial Kakula mine whilst unlocking the full potential of the Kamoa-Kakula copper district. We have already sank twin declines to reach the ore at Kansoko mine at our initial Kamoa copper discovery and are now fast tracking the development of Kakula mine with sinking of twin declines currently underway, pre-feasibility study in progress, and surface infrastructure construction due to start in 2018.
How does Ivanhoe Mines mitigate the risks of exploring in a country with a risk profile like the DRC to find something as successful as Kamoa? Continue reading
Kings of Copper Part 2: An exclusive look at investing in DRC and Zambia (Dual Cover Edition).
Country: DRC & Zambia • Industry: Mining • Publication: Pre-Release • Release Date: October 2015 • Authors: Molly Concannon and Nathan Allen.
The Central African Copperbelt is home to one of the world’s largest copper and cobalt resources. The 450-kilometer strip extends from Zambia’s Copperbelt province through the Democratic Republic of Congo’s (DRC) mineral-rich Katanga province. While the geological wealth of both nations is beyond doubt, there are Continue reading
MACIG Connect Series
Since its inception in the 1970s, BIAC has grown to become one of the DRC’s largest banks. How has the institution evolved over the years?
Michel Losembe (ML): BIAC started off life as BIAZ, Banque Internationale d’Afrique au Zaire. It was a subsidiary of a state-owned French bank, Banque Internationale pour Afrique de l’Ouest Continue reading