Investors from Kenya plan to invest about $1.6 billion in the Democratic Republic of Congo, Equity Group Holding Plc said days after the country joined the East African Community.
About two dozen companies from the bloc’s largest economy are looking to expand in Congo, with investments in cement-manufacturing to food-processing and finance, Equity said in a statement. The lender, Kenya’s biggest by market value, plans to inject $100 million in its Congolese subsidiary EquityBCDC to enhance “capacity to fund development projects and large mining & manufacturing companies in DRC,” it said.
Congo become the seventh member of the EAC this month, bringing the size of the bloc’s economy to $250 billion. The nation of about 90 million people is the world’s No. 1 cobalt producer and Africa’s top copper miner.
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