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How much profit does your business make per year?
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Business Current
Take your business to the next level. Run your business with a business bank account that lets you manage your money and transact 24/7 from your Banking App or Internet Banking. Our business current account gives you access to secure electronic transfers, pre-paid purchases and payments, and allows you to boost your business’s cashflow with tailored business lending solutions.
R200
min loan amount
Recurring
Months to pay
Democratic Republic of Congo overview
The DRC economic recovery should continue over the next two years.
Country insights
Population
79,1 million
Nominal GDP
USD 36 billion
Real GDP growth
9,5%
Headline inflation
16,6%
GDP growth: extractive sector still shines
Any deterioration in security conditions after the elections of Dec 18 could disrupt the economy this year. GDP growth is now forecast at 4.5% y/y for 2019, from 5.3% y/y initially. Over the next 2-y, GDP growth is not expected above 5.0% y/y.
Being disciplined enough to save for something as far-off or ‘alien’ as retirement is no easy feat. But the reality hits home when you think about what you might still be paying for when you’re no longer drawing a salary. Life doesn’t stop when you retire—you still have all your day-to-day expenses to pay for… You don’t want to be stressing about groceries in your golden years.
Balance of payments: still vulnerable
FX reserves are too low to buffer external shocks but they should remain stable over this year, rising moderately to USD990 million by year-end. By the end of 2019, we see reserves falling significantly, to USD750 million.
Correspondingly, import coverage will remain low, around 1-m over the next two years. Positive developments in the trade account will probably support the overall improvement in the C/A balance. 2018 mineral production is expected to build on 2017’s momentum. Following the impact of the currency devaluation, import demand does not seemed to have recovered significantly. This should keep the trade account in surplus over this year.
For now, stronger trade dynamics are likely to ease pressures on the C/A balance, which is expect the decrease to 2.8% of GDP and 2.4% of GDP in 2018 and 2019 respectively. Over the near term, insufficient financial inflows could exert downward pressure on FX reserves. The government’s precarious fiscal position also presents downside risks to FX reserve levels.
For now, stronger trade dynamics are likely to ease pressures on the C/A balance, which is expect the decrease to 2.8% of GDP and 2.4% of GDP in 2018 and 2019 respectively. Over the near term, insufficient financial inflows could exert downward pressure on FX reserves. The government’s precarious fiscal position also presents downside risks to FX reserve levels.
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FX outlook: still holding steady
For the next four months, USD/CDF should remain range-bound.
We expect the pair to close the year at 1650. As long the global backdrop keeps commodity prices stable, the currency is unlikely to depreciate materially. Exchange rate risks associated with political developments are binary. However, a deterioration of security conditions could see the USD/CDF head higher.
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FX outlook: still holding steady
For the next four months, USD/CDF should remain range-bound.
We expect the pair to close the year at 1650. As long the global backdrop keeps commodity prices stable, the currency is unlikely to depreciate materially. Exchange rate risks associated with political developments are binary. However, a deterioration of security conditions could see the USD/CDF head higher.
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