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Democratic Republic of Congo (DRC) sets out plans to attract “modern investors” to tap $24 trillion of unexplored mineral reserves

Speaking at the Mining Indaba in Cape Town, the leader of the DRC’s private sector regulator set out how the government will partner with responsible investors in a “win-win” for the industry and the Congolese people

CAPE TOWN, South Africa, February 7, 2024/ — The Democratic Republic of Congo (DRC) is looking to attract “modern investors” to develop its $24 trillion of untapped mineral deposits in partnership with Congolese companies, the leader of its private sector regulatory body told the mining industry at the 30th annual Mining Indaba in Cape Town, South Africa.

Mr Miguel Kashal Katemb, Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), told a packed auditorium that the “DRC is open to all investors” but is looking to partner with “modern investors” who can support the country’s economic development. With a responsible approach, Mr Miguel Katemb assured the mining industry that future investment in the DRC can be a “win-win” for both investors and the Congolese people.

ARSP connects mining investors with Congolese partners who provide market access and resources in exchange for ensuring Congolese participation in the mining value chain, supporting freshly re-elected President Félix Antoine Tshisekedi’s pledge to deliver more jobs and promote entrepreneurship. In regulation introduced recently, 51% of secondary activities, or sub-contracts, in the mining industry must be held by Congolese companies – an effort to ensure the benefits of the country’s vast mineral wealth is shared by everyone.

In his speech at the Mining Indaba, Mr Miguel Katemb said:

“We have many big investors in the DRC already, but we need modern investors. We are looking for investors who can help to build a new world for the Congolese people, where the social and economic benefits of investments are shared widely.”

Citing Canadian mining giant Ivanhoe Mines as a prime example of a “modern investor” that the DRC is looking to partner with, Mr Miguel Katemb was clear that there would be “cake for everyone” in the future development of the country’s vast mining resources.

Distributed by APO Group on behalf of Regulatory Authority for Subcontracting in the Private Sector (ARSP).

About the Regulatory Authority for Subcontracting in the Private Sector (ARSP):
he Regulatory Authority for Subcontracting in the Private Sector, or Authorité de Régulation de la Sous-traitance dans le Secteur Privé (ARSP), is a public regulator created by Presidential Decree No. 18/019 that regulates subcontracting activities in the private sector. It enables inward investment across all sectors of the economy by connecting investors with Congolese partners, aiming to create a Congolese middle class by ensuring that Congolese companies benefit from investment in the country

Please find its website here: https://apo-opa.co/3SOyO8Y

About Mr Miguel Kashal Katemb:
Mr Miguel Kashal Katemb was appointed as the Director General of ARSP in November 2022, working closely with President of the Democratic Republic of Congo Félix Antoine Tshisekedi. He was appointed after serving as the Provincial Minister for Infrastructure, Housing and Urban Planning in Haut-Katanga. He has a background in business, holding an MBA from the University of Witwatersrand.

SOURCE
Regulatory Authority for Subcontracting in the Private Sector (ARSP)

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