Democratic Republic of the Congo
The Virunga Report 31-Mar-2019
Top 3 Company Headlines
Govt ordered to pay DIG Oil $617m (Bloomberg 07-Mar)
SX-EW production increased by 16% in recent years (ScrapRegister 24-Mar)
Kenya Commercial Bank announces expansion in the DCR by 2022 (Agence Ecofin 28-Mar)
Top 3 Macro and Risk Headlines
Ex-President Kabila approved oil contract that encroaches on Virunga National Park (Bloomberg 26-Feb)
DCR to increase taxes on mining firms (BBC News 10-Mar)
US Treasury sanctions 3 govt members for electoral fraud (Reuters 21-Mar)
The Virunga's View
The international community have accepted the falsified electoral outcome of what was supposed to be the first democratic election in the DCR’s history. The newly elected president Felix Tshisekedi calls for a reconciled Congo, but political instability is almost a certainty.
Electoral fraud has delivered an unaccountable and illegitimate government. Its authority will be challenged. Moreover, the recent attacks of armed assailants on five ebola centres, and the massacre of the Bananu community last December, show a high risk of internal conflict that nobody is prepared to prevent. The UN is proposing to reduce the strength of MONUSCO’s military personnel. This will cause further instability in the country.
Fun Fact: President Tshisekedi pardoned 700 political prisoners (Al Jazeera 14-Mar)