Delegates attending Equity Group’s five-day trade mission to the Democratic Republic of Congo (DRC) have been urged to prioritize compliance with local laws in their investment strategies for the expansive market. The mission has attracted a diverse group of entrepreneurs from Kenya, DRC, Tanzania, Zimbabwe, Ethiopia, South Sudan, Poland, and Germany, highlighting the growing global interest in the DRC’s business opportunities
Speaking during a plenary session at the ongoing conference in Lubumbashi, Associate Director at Orkam Consultants, Kinkela Orelis, emphasized the importance of formalizing businesses as a prerequisite for investment.
“Understanding regulations, legal frameworks, and tax requirements is essential to unlocking business opportunities here, just as it is in any other country. The abundance of opportunities in the DRC does not exempt investors from adhering to established requirements,” he said.
Mr. Orelis, an expert in accounting and advisory services, further advised Chief Executive Officers (CEOs) to involve their Chief Operating Officers (COOs) to mitigate risks associated with non-compliance. “CEOs are the visionaries of their businesses, but they often overlook the need to involve their COOs in follow-ups on investments. This oversight can lead to regulatory breaches that flag their investments,” he noted.
He reassured delegates that bureaucracy is no longer a significant concern, citing the streamlined one-stop registration process for companies in the DRC. “While the DRC is often described as a land of opportunity, it is a misconception to assume it operates as a laissez-faire market. Compliance here is as critical as it is in Kenya or any other country. If you meet the requirements, there is no reason you cannot succeed,” he said.
He also highlighted a 2018 law mandating the engagement of certified public accountants (CPAs) to ensure businesses operate within the legal framework.“The intent behind this requirement is to encourage businesses to operate correctly. Engaging a CPA is not just a good practice but a legal necessity for compliance,” he added.
Equity Group Director of International Trade Relations, AQ Hamza, outlined the bank’s role in supporting trade missions. “We facilitate large delegations to explore and understand markets. Once you identify an opportunity, we connect you with relevant stakeholders through targeted meetings. For those ready to invest, we organize site visits to established businesses to provide insights into the market,” he said.
Mr. Hamza added that Equity also assesses financial needs and provides support to help businesses establish and grow. “With our team here in the DRC, we also encourage investments in other markets such as Kenya, Uganda, Tanzania, and South Sudan,” he said.
EquityBCDC Associate Director for Commercial Projects and Sectors, Paty-Paterne Mushagalusa, shared Equity’s success story in the DRC since its 2015 investment. “Equity’s journey in the DRC demonstrates what is possible when opportunities are pursued despite challenges. It offers invaluable lessons for those looking to establish themselves here,” he said.
Mr. Mushagalusa attributed Equity’s success to strategic acquisitions, operational excellence, and a commitment to financial inclusion, all aligned with the Africa Recovery and Resilience Plan (ARRP). “The ARRP is our bold strategy to catalyze, capacitate, connect, and finance enterprises and households across Africa. This vision has guided our investments in infrastructure, technology, and human capital, ensuring sustainable growth and socio-economic impact,” he said. He added that Equity’s approach was tailored to meet the needs and aspirations of the Congolese people.
Among the companies represented at the summit was Galana Energies, which is already operational in the DRC and plans to expand to cities such as Kolwezi. Exports Manager Marrietta Muvea described the trip as an eye-opener for Kenyan investors. “This platform has allowed us to meet potential customers and network with others who understand the market dynamics, such as company registration requirements. It’s an excellent opportunity for participants to collaborate and grow their businesses,” she said.
Engineer Martin Njoroge, CEO of ICT firm Informs Systems, highlighted his company’s regional presence, including operations in Somalia and Djibouti. The firm specializes in fire systems and is exploring opportunities in the mining and petroleum sectors. “My first trade mission with Equity was last year in Kinshasa, where I discovered numerous untapped opportunities. Now in Lubumbashi, we are heading to Kolwezi to explore even more prospects,” he said, commending Equity for providing a platform to transform lives.