DRC must transform mineral wealth into prosperity
The Democratic Republic of Congo DRC possesses vast mineral wealth, estimated to exceed US$24 trillion, yet faces significant human poverty with nearly 80% of its population living below the poverty line. Despite its rich resources, including gold, diamonds, copper, zinc, coltan, and cobalt, the country struggles with poor infrastructure, weak healthcare, and an unstable security situation. The article highlights that the DRC's mineral deposits are crucial for global industries like electric vehicle manufacturing and smartphones. The nation's history of conflict, including the late 1990s war involving multiple African countries, has contributed to its current challenges, with an estimated 5.5 million deaths and 2 million displacements. The current government, led by President Félix Tshisekedi, has political legitimacy and the potential to attract international assistance. To achieve prosperity, the DRC needs to redesign its economy away from mere extraction, combat corruption, develop human capital, and address investment-unfriendly policies. Strengthening state institutions and de-escalating security issues in the east are also critical steps for the country to leverage its resources for economic progress and stability.
