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DRC faces economic challenges [Business Africa]

DRC faces economic challenges [Business Africa]

Business Africa

Fall in Cobalt prices, the Democratic Republic of Congo is faced with the challenge of diversifying its economy, which is highly dependent on mineral resources.

With an estimated gross domestic product growth rate of 4.9 per cent in 2019 compared to 5.8 per cent in 2018, the Democratic Republic of the Congo is now experiencing a further economic slowdown.

A fall due mainly to the country’s dependence on mineral resources, particularly Cobalt, whose prices have fallen drastically in recent months. To overcome this problem, the International Monetary Fund has advised the country to diversify its economy and invest in other sectors.

Motorbike taxi firms race into West Africa

More and more motorcycle taxi companies are developing in West Africa and gaining increasingly important market shares, particularly in Lagos, the commercial capital of Nigeria.

Faced with competition and in an increasingly liberalised market, the motorcycle taxi sector in Nigeria is using schemes to attract as many customers as possible.

With teams of trained and responsible drivers, safer equipment and bookings via a mobile application, motorcycle taxi companies such as Gokada, launched in Lagos in January 2018, have become a must on the streets of some African cities.

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