Congo set to take advantage of critical mineral boom with its first-ever stock exchange

The Democratic Republic of Congo (DRC) is in the process of initiating its inaugural stock exchange, as the emergence of AI is driving demand for some of the country’s most critical minerals.

• The Democratic Republic of Congo is launching its first stock exchange next year, featuring both the Congolese franc and the US dollar.
• The exchange seeks to leverage increased international demand for Congo’s vital minerals, notably due to AI-driven needs for resources like copper, cobalt, and lithium.
• The government, in partnership with the International Finance Corp., aims to establish a strong capital market framework and expand business funding sources.
• Mining companies are expected to be key participants, while regulatory efforts will ensure a broader IPO pipeline and tax incentives for listed firms.

The exchange, which is set to begin next year, intends to list its local currency, the Congolese franc, and the US dollar, according to the DRC’s finance minister, Doudou Fwamba Likunde Li-Botayi.

Speaking to Bloomberg, the minister revealed that the International Finance Corp. and the government are collaborating to develop a capital markets framework.

Furthermore, the minister noted that the government plans to take advantage of the increasing international interest in Congo's economy and expand the sources of funding available to businesses, including the proposed Kinshasa Stock Exchange.

Officials expect that over time, the dual-currency exchange will bolster usage of the Congolese franc.

“The reality of our economy is that it is strongly dollarized,” Li-Botayi said in emailed comments, noting that more than 95% of total banking system deposits and over 80% of public securities are held in dollars.

“We cannot design a stock exchange that ignores that reality.”

“We are building for the market as it exists today, while keeping sight of where we want it to go,” he added.

According to Li-Botayi, mining companies constitute a primary target for stock market listings, though regulatory authorities will also collaborate with the broader business community to establish a pipeline of initial public offerings.

While reduced corporate income tax rates will assist publicly listed firms, expanding market participation represents an additional objective.

The DRC is the premier producer of copper in Africa and a major supplier of cobalt and lithium, all of which have stimulated heightened investor interest given the accelerating demand for minerals requisite for artificial intelligence infrastructure.

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Furthermore, the International Monetary Fund projects that the country's robust metals exports this year will position its economy as the fifth largest in Africa.

Stock exchanges in Africa

Following the establishment of equity markets in Ethiopia and Somalia in 2025, Congo represents the most recent African nation attempting to develop a stock exchange.

Prior to that, Zimbabwe in 2020 instituted an exchange to facilitate the trading of dollar-denominated securities.

Driven by rising commodity valuations and capital inflows from investors seeking diversification from major Asian technology corporations, African equities are currently demonstrating robust performance.

Nations including Ghana, Nigeria, Zambia, and Kenya rank among the global top twenty performers this period, sustaining the exceptional trajectory observed during the preceding year.