Hotline +243-818-302-700
Whistleblowing
Kinshasa, February 13th, 2024 - For the first time in the financial history of the Democratic Republic of Congo (DRC), four prestigious local banks, EquityBCDC, FirstBank DRC, Ecobank RDC, and Standard Bank, have joined forces to address the country's debt challenges with oil companies. They have achieved a historic syndication of $123.5 million through a collaborative agreement called the "Club Deal." This groundbreaking initiative marks a crucial step in the development of the Congolese financial system and opens up promising new prospects.
The agreement, implementing remarkable collaboration between the four leading commercial banks and three key ministries (National Economy, Hydrocarbons, and Finance), focuses on restructuring public debt. This innovative initiative is based on an original structure supported by oil-related taxes, demonstrating a visionary and pragmatic approach to current financial challenges.
The main objective of this collaboration is to refinance arrears of subsidies on oil prices granted by the State to preserve the purchasing power of the population, especially during the period of high volatility in oil prices in 2022, following the crisis in Ukraine.
This synergy between banks and ministries demonstrates a shared commitment to economic stability and the well-being of citizens. Acting as a catalyst, this agreement provides vital support to oil and logistics companies, whether large-scale or independent, in the Western, Southern, and Eastern regions. It will not only revitalize their activities but also have positive repercussions on interdependent sectors such as transportation and industry.
Stakeholders express their confidence in this unprecedented collaboration and its potential to catalyze sustainable economic development in the DRC. This agreement marks a significant step towards consolidating the Congolese financial sector and strengthening the country's position as an emerging economic center in Africa.
Related stories
Back in pictures |
View MoreEquityBCDC announces the second drawdown of $282,000,000 Million relating to its groundbreaking syndication with FirstBank DRC SA, Ecobank RDC and Standard Bank in collaboration with the Congolese government for the financing of oil debt.
View MoreEquityBCDC Launches Its Seasonal Campaign: “Let’s All Celebrate with EquityBCDC”
View MoreDR. JAMES MWANGI APPOINTED TO THE WORLD BANK GROUP HIGH-LEVEL ADVISORY COUNCIL ON JOBS TO TACKLE LOOMING CRISES
View MoreEQUITYBCDC ANNOUNCES BOARD AND SENIOR MANAGEMENT APPOINTMENTS DESIGNED TO STRENGTHEN CAPABILITY AND GROW OPERATIONS IN THE DEMOCRATIC REPUBLIC OF THE CONGO
View MoreClarification following incidents at EquityBCDC's Kananga branch on Wednesday, October 30, 2024
View MoreEquityBCDC : 2024 CUSTOMER WEEK | NETWORKING BRUNCH
View MoreEquityBCDC a procédé à son exercice annuel de Simulation d’Incendie au siège de la
View MorePartnership between EquityBCDC and Plantations huileries du Congo ( PhC) for sustainable socio-economic development
View MoreEquityBCDC Launches Third Cohort of the Equity Leaders 2024 Program
EquityBCDC is pleased to announce the launch of the third cohort third cohort of the Equity Leaders 2024
View MoreEquityBCDC Wins First World Elite Card Award in the DRC at Mastercard MENA West BusinessForum 202417th
View MoreEquityBCDC Announces the Launch of the World Elite Card in Partnership with Mastercard
View MoreEquityBCDC welcomes Harvard students
View MorePromotion of Sustainable Food Security in the DRC by EquityBCDC and WFP
View MoreEquityBCDC highlights progress and ambitions for 2024 through its first press conference of the yea
View MoreMoneyGram Terms and conditions
The MoneyGram® money transfer service (“Service”) is provided by MoneyGram Payment Systems, Inc, through a network of agents,...
View MoreMining Indaba 2024, Interview with the CEO of EquityBCDC Mr. Celestin Mukeba
This year's Mining Indaba made a call to local banks to increase their role in mining
View MoreEquityBCDC announces launch of Cybersource, an online payment platform in partnership with VISA
With this new service, EquityBCDC strengthens its position as a reference digital bank in the DRC and abroad.
View MoreOne year after the merger, EquityBCDC's results show exponential growth
The Bank is focused on empowering its customers through innovative and unique digital solutions.
View MoreEquity BCDC Unveils New Identity as It Positions to be the Bank of Choice in DRC
The new Bank has size and capability to expand access to financial services across Democratic Republic of Congo
View MoreKENYA’S PRESIDENT UHURU KENYATTA UNVEILS EQUITYBCDC
President hails the Bank’s regional expansion.
View MoreUnited Nations Uganda and Equity Bank Uganda establish new partnerships for acceleration of attainment of the SDGs
The new partnership will promote social inclusion and improve economic outcomes and human development as well as contribute to social economic transformation
View MoreEquity Bolsters its Support to SMEs in Kenya, Uganda, Rwanda & DRC with USD 75 Million Women Guarantee Fund with African Guarantee Fund
The USD 75 Million (Kshs 8.25 Billion) Guarantee Fund de-risks women owned and managed MSMEs access credit at affordable interest so as to recover and thrive
View MoreTHE KENYA- DRC TRADE MISSION COMES TO AN END AFTER FOUR CITIES WITH THE CONCLUSION OF THE MBUJI-MAYI LEG
The 15-day Trade Mission attracted investors, entrepreneurs and SMEs who interacted through business forums, networking and matchmaking sessions and business
View MoreEquityBCDC launches Equity Leaders Program (ELP) a mentorship and leadership development program
The scholars will form the first cohort of ELP beneficiaries in DRC.
View MoreEquity Bank Congo Contributes 1 Million Dollars in the fight against Covid-19
The donation will be used to supply personal protective equipment (PPE) for the medical profession in public hospitals in the country.
View MoreTHE GOVERNMENTS OF DRC AND KENYA ANNOUNCE TRADE MISSION OF KENYAN ENTREPRENEURS TO DRC IN PARTNERSHIP WITH EQUITY GROUP AND ITS SUBSIDIARY EQUITYBCDC, TO STRENGTHEN BILATERAL TRADE IN EAST AND CENTRAL AFRICA
The trade mission includes a 14-day visit to the DRC between 29 November and 13 December to Kinshasa, Lubumbashi, Goma and Mbuji Mayi.
View MoreEQUITY BANK CONGO AND BANQUE COMMERCIALE DU CONGO (BCDC) RECEIVE REGULATORY APPROVAL FOR MERGER
The New Merged Bank, EQUITYBCDC is the Second Largest Bank in Democratic Republic of Congo with a Balance Sheet of USD 2.5Billion
View MoreEquity ranks position 7 in the list of top 10 banks in Africa in The Banker’s Top 100 African Banks 2020
This year’s ranking shows stabilisation in the finances of the majority of African major lenders.
View More
Service finder
