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DR Congo seeks to advance national currency over U.S. dollar
From AfricaNews.com, Lyon, France
Thursday, June 6, 2024
The Central Bank of Congo has mandated that all electronic payment terminals in the Democratic Republic of Congo accept only Congolese francs. This move aims to boost the use of the national currency and reduce reliance on the U.S. dollar, which weakens the franc.
According to the central bank, this measure aims to strengthen the use of the national currency and encourage the population to prefer it for everyday transactions. This initiative is part of a series of major reforms launched by Nicolas Kazadi, the former minister of finance, aimed at combating the dollarization of the economy and promoting financial inclusion.
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Currently, only 13% of electronic payment terminals accept Congolese francs, favoring foreign currencies in the dollarized economy. The central bank's new policy supports previous measures requiring prices and state payments to be in the national currency. ...
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