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Congo DRC
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Historically, banks in DRC have not had a good track-record. From the beginning of the 1990s, the Congolese banking system went into a severe crisis, with the banks experiencing financial and organizational imbalances and abandoning prudential management norms. This led to public mistrust of banks. However, with the predicted growth and with more international groups venturing into the country, there is a huge need for the proper management of finances. Overall, recent efforts taken to ensure the stability of the banking sector are expected to facilitate a smooth functioning market based financial system.

The Central Bank of the Congo is the central bank of the Democratic Republic of the Congo.

As the DRC is much larger than Alaska, the central bank has branches in Kamina, Kasumbalesa, Kikwit, Tshikapa, Ilebo and Matadi. With its Governor Jean-Claude Masangu Mulongo, it is responsible for formulating and implementing monetary policy and fostering the liquidity, solvency and proper functioning of the financial system.

DRC Banks

DRC money and banking is mostly limited to the country’s capital of Kinshasa. The banking system in the country comprises commercial banks and financial institutions.

Central Bank
The Central Bank of the Congo

Commercial Banks
Citibank, United Bank for Africa, Barclays Bank, Ecobank, Stanbic Bank, Union des Banques Congolaise, Banque Privée Du Congo (BPC), Afriland First Bank, SofiBanque, etc…

Microfinance Institutions
Finca, Groupe Soficom

Currency

The Congolese Franc (currency sign: FC, currency code: CDF) is the country’s official currency. It is divided into 100 centime. Notes are in denominations of FC 500, 200, 100, 50, 20, 10, 5 and 1. Coins are in denominations of 50, 20, 10, 5 and 1 centimes. The Franc per US$ rate is at 893.24(2010). DRC’s inflation rate was estimated at 16.7% in 2007.


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