The Democratic Republic of Congo (DRC) is pushing its gold trade into the formal banking system, as state-owned DRC GOLD TRADING SA and the Congolese General Savings Bank (CADECO) signed a strategic partnership to secure payments to traders who sell their gold to the company.
Under the agreement, concluded at CADECO's headquarters in the Gombe district of Kinshasa, the bank will install advanced teller windows directly inside DRC GOLD's trading sites, allowing sellers to complete their financial transactions on the spot in a secure, fast and transparent environment.
The DRC GOLD delegation, led by managing director Joseph Kazibaziba Maombi, negotiated the practical arrangements for a system designed to cut the risks of handling and transporting cash while drawing sellers closer to formal financial services. The partnership fits a wider push by Kinshasa to formalize the gold marketing chain and improve traceability of payments.
Government spokesperson Patrick Muyaya has detailed that the strategy must target illicit export channels that divert a large share of Congolese production away from official routes.
Prime Minister Judith Suminwa has asked the mines minister to pilot the measures in Haut-Uélé province, aligning financial, customs and mining instruments on the ground.
In February, the Ministry of Mines signed a framework agreement for the AXIS Program and the GOLDCONNECT initiative, aimed at strengthening the governance, traceability, and structuring of the artisanal gold mining sector.
