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The Journal of African Business Issue 8

  • Text
  • Technology
  • Cop28
  • Carbontax
  • Commodities
  • Infrastructure
  • Development
  • Trade
  • United nations
  • Biodiversity
  • Investment
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  • Africa
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  • Vodacom
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The Journal of African Business is a unique guide to business and investment in Africa, published as a quarterly. Read or download your free digital copy here.

COUNTRY PROFILE

COUNTRY PROFILE DEMOCRATIC REPUBLIC OF THE CONGO Peace and infrastructure are the two things the DRC needs most. Capital: Kinshasa. Other towns/cities: Lubumbashi, Mbuji-Mayi. Population: 111.8-million (2023). Real GDP (PPP): 2.9-billion (2021). GDP per capita (PPP): 100 (2021). Currency: Congolese franc (CDF). Regional Economic Community: Economic Community of Central African States (ECCAS), Common Market for Eastern and Southern Africa (COMESA), Organisation Internationale de la Francophonie (OIF), Southern African Development Community (SADC). Landmass: 2 345 409km². Resources: Cobalt, copper, niobium, tantalum, petroleum, industrial and gem diamonds, gold, silver, zinc, manganese, tin, uranium, coal, timber, cassava, plantains, sugar cane, maize, oil palm fruit, rice, tubers, bananas, sweet potatoes, groundnuts. Main economic sectors: Mining, mineral processing, textiles, plastics, footwear, timber. Other sectors: Hydropower, metal products, processed foods and beverages, cement. Sectors for investment: Road, rail, telecoms and port infrastructure. Key projects: The World Bank is overseeing several important projects: the Regional Great Lakes Integrated Agriculture Development Project, the Urban Development Project (focussed on connectivity), the Regional Great Lakes Trade Facilitation Project and the Goma Airport Safety Improvement Project. Chief exports: Copper, cobalt, crude petroleum, tin, diamonds. Top export destinations: China, United Arab Emirates, Saudi Arabia, South Korea. Top import sources: China, South Africa, Zambia, Rwanda, Belgium, India. Main imports: Packaged medicines, refined petroleum, sulphuric acid, stone processing machines, delivery trucks. Infrastructure: Five international airports, 270 airports and numerous landing strips; 238 935km of roads (2 250km paved), 5 033km of railways; 16 238km of waterways; 89 hydroelectric plants. ICT Development Index 2017 (ITU) world ranking: 171, 33rd in Africa. Mobile subscriptions per 100 inhabitants: 50 (2022). Internet percentage of population: 23 (2021). Climate: Tropical. The wet season south of the equator extends from November to March; north of the equator it begins in April. The equatorial river basin creates hot and humid conditions. The highlands to the south and east are cooler with the eastern section also being considerably wetter. The Congo rainforest is the secondlargest rainforest in the world, after the Amazon. Religion: Mainly Christian, divided between Roman Catholic, Protestant and other groups. Modern history: In January 2024 President Felix Tshisekedi began his second fiveyear term of office. Opposition parties contested the result. President Tshisekedi’s accession to power in 2018 represented the first peaceful transition to power since the country gained independence from Belgium in 1960. Five years after independence, Mobutu Sese Seko took control of the country, renamed it Zaire and began a period of authoritarian rule which came to an end in 1997 via the First Congo War. This was immediately followed by the devastating Second Congo War which only ended when Joseph Kabila took power. He ruled until 2018. The eastern part of the country continues to be wracked by conflict. The DRC has vast mineral wealth, with about 70% of the world’s coltan, a third of its cobalt, a 10th of the world’s copper and more than 30% of global diamonds. 34

COUNTRY PROFILE MALAWI Climate shocks are among this agricultural country’s greatest challenges. Capital: Lilongwe. Other towns/cities: Blantyre, Mzuzu, Zomba. Population: 21.3-million. Real GDP (PPP): .6-billion (2021). Real GDP per capita (PPP): 500 (2021). Currency: Kwacha. Regional Economic Community: Southern African Development Community (SADC), Southern African Customs Union (SACU). Landmass: 118 484km² Resources: Limestone, arable land, hydropower, unexploited deposits of uranium, coal and bauxite; tobacco, sweet potatoes, cassava, sugar cane, maize, mangoes, guavas, potatoes, tomatoes, pigeon peas, bananas, plantains. Main economic sectors: Agriculture (tobacco, tea, sugar, sawmill products). Other sectors: Cement, consumer goods. New sectors for investment: Hydroelectricity, other renewables, transport, digital development, trade logistics and finance sectors. Key projects: The Malawi 2063 Vision aims to commercialise the almost exclusively subsistence farming sector, to industrialise parts of the economy and to leverage the urbanisation process to diversify and expand the economy. Chief exports: Tobacco, gold, soybeans, raw sugar, tea, dried legumes, nuts. Top export destinations: Belgium, United States, Egypt, South Africa, Germany, Kenya, United Arab Emirates. Top import sources: South Africa, China, United Arab Emirates, India, United Kingdom. Main imports: Postage stamps, refined petroleum, packaged medicines, fertilisers, office machinery/parts. Infrastructure: A total of 31 airports, two international, seven of which have paved runways; 24 866km of roads, of which 6 956km is paved; 797km of railways; 700km of waterways. ICT Development Index 2017 (ITU) world ranking: 167, 30th in Africa. Mobile subscriptions per 100 inhabitants: 60 (2020). Internet percentage of population: 24 (2021). Climate: Subtropical, with a rainy season that begins in November. The dry season normally starts in May. The Great Rift Valley runs through the country and Lake Malawi, at 587km long, is its most distinguishing geographic feature. The Shire River flows out of Lake Malawi to join the Zambezi River 400km to the south. Religion: Predominantly Christian (about 33% Protestant) and about 14% Muslim. Modern history: The British Central African Protectorate was proclaimed in 1889 and renamed Nyasaland in 1907. In 1964 this territory became independent Malawi. Hastings Banda was the first president and, after a constitution change in 1971, president-for-life but one-party rule came to an end in 1993. Multi-party elections have been held every five years since then. Despite political calm, food security has been hard to achieve. Subsistence farming is widespread and the country is subject to climate shocks such as drought and cyclones. Most Malawians rely on subsistence farming, but the food supply situation is precarious because of the climate. There has been low productivity in the agricultural sector combined with very little commercialisation and a decline in global demand for tobacco. Some better economic growth has been achieved in recent years, partly through a programme of fertiliser subsidies. Malawi has two UNESCO World Heritage Sites, Lake Malawi National Park and the Chongoni Rock Art Area. 35

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