East Africa bloc becomes $250bn market as Congo joins

The Democratic Republic of Congo joined the East African Community, bringing the regional trading bloc’s market size to a quarter of the continent’s population and providing it with access to the Atlantic Ocean. The mineral-rich nation became the EAC’s seventh member after heads of state agreed to its request to join the $193.7 billion group.

The world’s largest source of cobalt and Africa’s biggest miner of copper, Congo has a population of about 90 million people and a GDP of $54.8 billion. Congo is led by Felix Tshisekedi since 2019 when he succeeded Joseph Kabila, who had been in power for nearly two decades, the mineral-rich country’s first-ever peaceful transfer of power. The central African nation’s economy is expected to grow 5.6% this year from an estimated 5.7% in 2021, according to the International Monetary Fund.

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East Africa bloc becomes $250 billion market as DRC joins | Fin24The Democratic Republic of Congo has joined the East African Community, bringing the regional trading bloc’s market size to a quarter of the continent’s population and providing it with access to the Atlantic Ocean.
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