Kabila's SADC reign triggers major DRC revival

LUBUMBASHI: With President Joseph Kabila in the saddle as the new chairman of the Southern African Development Community (SADC) the Democratic Republic of Congo (DRC) seems determined to change its sad record as a country known for civil wars to a reliable trading partner within the 15-nation economic bloc.

And one of the driving forces behind this "reawakening" is Katebe Katoto, a Congolese national based in the United States of America (US). Katoto owns Samaki Fisheries, a company based in Lubumbashi, the capital of Katanga Province, and his boys are making a killing by trading in fish that they procure from Zambia's Luapula and Northern provinces, which are endowed with various lakes such as Lake Mweru, Lake Samfya and Lake Tanganyika.

Katoto owns barges for hire to holidaymakers and two hotels in the US so he has entrusted the fish business to his cousins and his son living in Congo-DR, as the country is popularly referred to by citizens here.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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