Democratic Republic of Congo will implement several initiatives to increase revenue and improve financial transparency in the new year, including a plan to formalize the artisanal gold trade and amend an agriculture law to encourage foreign investment, government officials said.
Congo is one of the world’s richest countries in terms of natural resources but has long been seen as a difficult place to do business due to corruption, conflict and limited infrastructure. Millions are currently displaced in the east of the country due to fighting fueled in part by the illicit trade in minerals like tantalum and gold.
Most of Congo’s smuggled gold transits through Rwanda and Uganda and ends up in Dubai, he said. The UAE and Congo are putting infrastructure in place to formalize the market, he said, without giving more details.
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