KINSHASA, June 26 – The Democratic Republic of the Congo has taken a significant step toward establishing its first securities exchange after signing a cooperation agreement with International Finance Corporation (IFC) to support the creation of the Kinshasa Stock Exchange (KSE).
The agreement marks a milestone in the country’s efforts to deepen its financial markets, expand access to capital for businesses and strengthen its integration into global financial markets.
The partnership was signed by Finance Minister Doudou Fwamba Likunde Li-Botayi and IFC Country Director Malick Fall at the Centre Financier de Kinshasa.
The cooperation framework covers six strategic areas, including the development of the regulatory framework, market infrastructure, institutional capacity building, knowledge sharing, expansion of the investor base and operational support during the exchange’s initial phase.
The initiative follows the Democratic Republic of the Congo’s successful debut on international capital markets earlier this year, when the country raised $1.25 billion through its first-ever Eurobond issuance.
Authorities view the establishment of a domestic stock exchange as the next phase in building a modern financial system capable of mobilizing both domestic and international investment.
The legal foundation for the exchange is also advancing.
Earlier this month, the finance minister presented legislation before the Senate establishing the country’s financial markets framework after the bill was approved by the National Assembly.
The proposed legislation provides for the creation of the Kinshasa Stock Exchange, a commodities exchange covering agricultural, mining and industrial products, an independent capital markets regulator, a central securities depository and settlement banks.
If approved by the Senate, the legislation will establish the legal framework necessary for launching the country’s capital markets infrastructure.
During parliamentary discussions, lawmakers highlighted the importance of strengthening corporate governance, financial transparency and formalization of businesses before companies can successfully access public capital markets.
The Democratic Republic of the Congo’s financial system remains heavily dependent on commercial banks and is among the most dollarized economies in Africa, with limited domestic capital market activity.
Officials believe a functioning securities exchange will diversify sources of financing, reduce dependence on bilateral and multilateral funding and create new opportunities for Congolese companies to raise long-term capital.
The government also expects the exchange to enable citizens and institutional investors to participate more directly in strategic sectors such as mining, telecommunications, infrastructure and industrial development.
Africa currently has approximately 30 operational stock exchanges, with Ethiopian Securities Exchange, launched in early 2025, being the continent’s newest exchange.
If successfully launched, the Kinshasa Stock Exchange would become one of Africa’s newest capital markets and could play a key role in supporting private sector growth and expanding investment opportunities in one of the continent’s most resource-rich economies.
