Kabila opens doors to SA companies

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Democratic Republic of Congo (DRC) President Joseph Kabila has told South African companies that his country is open for business and investment.     

He was addressing over hundred local business people during the South Africa-DRC Business Forum in the Congolese capital Kinshasa.

The business delegation was accompanying President Jacob Zuma on his state visit to the southern African country. During his stay in the Congo, President Zuma witnessed the signing of the multi-billion rand hydro-power project.

The 80 billion US dollar Grand Inga Dam Project will have the capacity to power almost half of the continent with huge investment opportunities for South African companies.

Growing the economy remains South Africa’s main priority. Africa’s largest economy has cut its growth forecast for 2013 to as low as 2.2% as mining strikes and the economic downturn in the Eurozone curb exports. This is lower than a February estimate of 2.7% and down from a 2.5% expansion last year.

The country is now looking elsewhere for economic opportunities and DRC is one such destination. With the Grand Inga Dam Project deal between Pretoria and Kinshasa now signed, South African companies are invited to invest and do business in the Congo.

President Joseph Kabila says he’s got the backing from President Jacob Zuma who said he is confident that South African companies eyeing opportunities in the DRC will be equal to the task.

President Jacob Zuma says local business people have vowed to foster co-operation with their Congolese counterparts for the benefit of both countries.

Black Business Council official and South Africa’s Businessman of the Year who is also Group Chief Executive of Ulwazi Group Bongani Mabizela says after their deliberations there is hope that business opportunities in the DRC are in the offing.

Chief Executive of the Eddison Foundation, Vivian Reddy says since formal diplomatic relations between the two countries were formalised in 2004, following the establishment of the SA-DRC Bi-National Commission, over 30 co-operation agreements were signed between the two nations.

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