Republique democratique du congo, also known as dr congo, drc, congokinshasa or simply the congo, is a third world country located in central africa. In the 19th century, the country had a thriving slavetrade business. Its main exports are diamonds, copper, gold, cobalt, and. Democratic republic of the congo amazing facts great collection. Democratic republic of the congo drc, formerly zaire capital city. Congo, democratic republic currency money congo dr currency includes the local currency, other currencies commonly accepted and where, credit or debit cards accepted, access to atms that accept u. The central bank digital currency survey 2020 debunking some myths.
No fees charges may occasionally be applied by a third party bank. Republique democratique du congo, commonly referred to as dr congo, congokinshasa or the drc, is a country in central africa. The official currency of the democratic republic of congo is the congolese franc cdf. The democratic republic of the congo is a central african nation, and is also referred to as dr congo. Armed groups in north and south kivu, orientale provinces, northern and central regions of the katanga province, and the eastern section of maniema, have been known to pillage, steal cars, take hostages, sexually assault, murder, and carry out. Additional comments provided on the adoption status. Masisi is the highest situated town in the country. What is the currency of the democratic republic of the congo. Democratic republic of congo drc currency converter what is the unit of money in democratic republic of congo drc. Minerals found in katanga include copper, cobalt, zinc. There have been two different francs in the country, the first franc which was present from 18871967, and the second franc which is currently used and began circulation in 1997.
Congo, democratic republic foreign exchange controlscongo dr foreign exchange includes how foreign exchange is managed and implications for u. The currency in the democratic republic of the congo is congolais franc cdf. Our clients can setup a drc company with 1 director and 1 shareholder. Currency of democratic republic of congo is congolese franc.
In brazzaville the currency is known as the central african c. In 2016, the country was home to approximately 5,125,821 people which was the 124th highest population globally at the time. The democratic republic of congo drc is a country located in central africa with a population of over 78 million people. Its major export partners are china, zambia, and south korea. The democratic republic of the congo is a source, destination, and possibly a transit country for men, women, and children subjected to forced labor and sex trafficking. Note that if the interest is paid to a local company, the wht does not apply since the interest is included in the taxable income of the company charging such interest. Filled with highend restaurants serving spectacular dishes, street food cafes, and luxurious dining venues, it has a fantastic array of venues to suit any need. The franc is divided into 100 smaller portions called centimes. A trader displays new congolese currency bills in the democratic republic of congo s capital kinshasa, july 3, 2012. Nov 26, 2018 the capital of the democratic republic of the congo drc is kinshasa. The capital, brazzaville, is located on the congo river, in the south of the country, immediately across from kinshasa, the capital of the democratic republic of the congo.
Capital kinshasa government type semipresidential republic currency congolese francs cdf population 101,780,263 total area 905,350 square miles 2,344,858 square kilometers location central africa, northeast of angola. Economy of the democratic republic of the congo wikipedia. The countrys capital city is kinshasa, its official language is french and it has a population of 71. On may 19, 2016, an official statement from the ministry of commerce was published informing economic operators of the compulsory application of an october 14, 2015 ministerial decree stating that all precustoms clearances for imports, exports and transit of goods from pilot sites in kinshasa, lubumbashi, matadi, goma, boma, and kisangani were required to be performed on the guichet. What is the capital of the democratic republic of the congo. Climate democratic republic of the congo temperature best. Literally, congo means a river, perhaps an apt description of the land and the people as traditionally hunting must be the main livelihood of the people. The official currency of the democratic republic of the congo is the congolese franc. The democratic republic of congo has a vast amount of mineral and other natural resources. As in many countries near the equator, there is also no daylight saving time in kinshasa. Dr congo is a vast country with immense economic resources and, until recently, has been at the centre of what some observers call africas. The most deadly disease in this country is tuberculosis.
Republic of the congo republic of the congo finance and trade. The economy of the democratic republic of the congo has declined drastically since the mid1980s, despite being home to vast potential in natural resources and mineral wealth at the time of its independence in 1960, the democratic republic of the congo was the second most industrialized country in africa after south africa. This makes it the 11th largest country in the world and slightly less than onefourth the size of the us. The democratic republic of the congo drc is a country located in central africa with a short atlantic ocean coastline. Central bank of the democratic republic of congo news and. Republic of the congo finance and trade britannica. By that time, civil war in the democratic republic of the congo had caused more deathsover four millionthan any conflict since world war ii. Democratic republic of congo drc accounting and tax. The countrys main economic resource is its mineral deposits. Congo, democratic republic market overview privacy shield. Democratic republic of the congo is in the continental part africa and the capital is kinshasa. Congo, democratic republic currency moneycongo dr currency includes the local currency, other currencies commonly accepted and where, credit or debit cards accepted, access to atms that accept u. Congos democratic progress was derailed in 1997, when lissouba and. Use the currency converter below to calculate the current exchange rate for the city of brazzaville.
The country is often referred to by its acronym, the drc, or called congo kinshasa, with the capital added parenthetically, to distinguish it from the other congo. The democratic republic of the congo, formally known as zaire from 1971 from 1997, is located in central africa. At the time of its independence in 1960, the democratic republic of the congo was the second most industrialized country in africa after south africa. Democratic republic of the congo is an african country covering 2,344,858. Ifrs standards have been adopted in democratic republic of the congo. Its geographic coordinates are 0 00 n, 25 00 e and kinshasa is the capital. Democratic republic of the congo travel wiki fandom. The economy of the democratic republic of the congo has declined drastically since the mid1980s, despite being home to vast potential in natural resources and mineral wealth. Due to the increased rate of civil unrest, we strongly recommend you to avoid any type of traveling to the democratic republic of congo. The central bank is responsible for regulating foreign trade and payment locally and international in the drc. What is the currency of democratic republic of congo answers.
Belgian colonization began when king leopold ii founded the congo free state. Thus, congo is one of the most urbanized countries in africa, with 85% of its total population living in a few urban areas, namely in brazzaville, pointenoire, or one of the small cities or villages lining the. Congokinshasa francs, cdf is the national currency in democratic republic of congo drc. The recent history of the democratic republic of congo dr congo has been one of civil war and corruption.
Prior to its present name, the democratic republic of congo was formerly known as zaire, and before that, it was the belgian congo. The period between 1960 and 1965 is referred to as the first congolese republic, while the current democratic republic of the congo is referred to as the third republic. The democratic republic of congo is widely considered one of the worlds richest countries in natural resources. The democratic republic of congo has signed only 2 double taxation avoidance treaties, with belgium and south africa. Historically, the republic of the congo currency reached an. Democratic republic of the congo vs republic of the congo. Congo, democratic republic market overviewcongo dr market overview discusses key economic indicators and trade statistics, which countries are dominant in the market, the u. Neighboring countries include angola, burundi, central african republic, republic of the congo, rwanda, south sudan, tanzania, uganda, and zambia.
Democratic republic of the congo and republic of the congo are two different countries located in central africa in the late 15th century the congo river delta was a major commercial hub for trade. In terms of area, the country is 10x bigger than united states. All figures are live midmarket rates, which are not available to consumers and are for informational purposes only. The currency used in brazzaville is the central african cfa franc. Atm networks and which networks are readily accessible, and acceptability of travelers checks. Capital kinshasa government type semipresidential republic currency congolese francs cdf population 101,780,263. Democratic republic of the congo transportation and. Africa congo, democratic republic of the the world factbook.
This article gives the tax highlights of the democratic republic of congo drc. Democratic republic of the congo economic indicators. Aerial view of the congo river near kisangani, the capital of orientale province. The economy of the republic of the congo is a mixture of subsistence hunting and agriculture, an industrial sector based largely on petroleum extraction and support services, and a government spending, characterized by budget problems and overstaffing. Please see all the main information on democratic republic of congo.
After the independence of the democratic republic of the congo in 1960, ruandaurundi adopted its own franc, whilst, between 1960 and 1963, katanga also issued a franc of its own. The drc ranks 5 out of 157 countries in terms of human capital, with a human capital index score of 0. Arab slave traders offered clothes, jewelry, beads, and cowrie shells to slave owners in exchange for slaves. The law provides for the registration of trade marks for goods and services, for collective marks, for manufacturing marks, and for national warranty marks. The democratic republic of congo gained its independence under the belgium rulers in 1960.
The abundance of minerals in katanga province was among those factors that attracted european powers to congo in the 19th century. The second congo war, which began in 1998, has been the worlds deadliest war since world war ii with 5. The organization of the transportation network is of crucial importance to congo, a country of continental dimensions, rich economic resources, and limited maritime access. The republic of the congo s sparse population is concentrated in the southwestern portion of the country, leaving the vast areas of tropical jungle in the north virtually uninhabited. With 80 million hectares of arable land and over 1,100 listed minerals and precious metals, the drc has the potential to become one of the richest. The highest peak is stanley mountain 5109 m above sea level.
Aerial view of the congo river near kisangani, capital of orientale province, democratic republic. Congo, democratic republic import requirements and. Congo, democratic republic currencymoney privacy shield. Under drc law, there are no residency or nationality requirements for directors and shareholders. Democratic republic of the congo country profile nations online. Democraticrepublic ofthe congo definition, a republic in central africa, w of the democratic republic of the congo.
Congo, democratic republic of the corporate withholding taxes. The democratic republic of the congo is a large country in central africa with a. Democratic republic of the congo simple english wikipedia. Democratic republic of the congo making finance work for africa. It boasted a thriving mining sector and its agriculture sector was. It is inhabited entirely by black africans, though these are genetically diverse and still have many conflicts. During president mobutu reignzaire the coins were called makuta. Jan 10, 2019 dr congo is a vast country with immense economic resources and, until recently, has been at the centre of what some observers call africas world war, with widespread civilian suffering the result. The official currency of the democratic republic of congo is the central african cfa franc. Aug 07, 2017 the democratic republic of the congo is a central african nation, and is also referred to as dr congo. Angola, zambia, central african republic, republic of the congo, south sudan, tanzania, burundi, rwanda. Ifrs standards are required in the consolidated financial statements of all listed companies and companies seeking financing in a public capital market in all ohada jurisdictions effective 1 january 2019. Congos generally poor transportation infrastructure is a major factor in its economic underdevelopment, a.
The capital of the democratic republic of congo, also known as congo kinshasa, is kinshasa, which is also the countrys largest city. Location of democratic republic of the congo dark green. The democratic republic of congo drc, formerly known as the republic of zaire, is geographically the largest state in southern and central africa. Intellectual property guide democratic republic of the congo.
Official web sites of democratic republic of the congo, links. The democratic republic of the congo drc is a member of the paris convention and the wtotrips. The country is also known as congo brazzaville to distinguish it from its giant eastern neighbour, the democratic republic of the congo congo kinshasa. Congo, democratic republic foreign exchange controls. On 1 august 1964, the states official name was changed to the democratic republic of the congo. It lies about 320 miles 515 km from the atlantic ocean on the south bank of the congo river. Payments to or from a foreign country are subject to a 2% exchange control fee. Kisangani is an important commercial hub point for river and land transportation and a major marketing and distribution center for the northeastern part of the country. Democratic republic of congo drc currency converter gmt. The southwest of the country is a coastal plain for which the primary drainage is the kouilouniari river. The congo has 70% of the worlds coltan, a third of its cobalt, more than 30% of its diamond reserves, and a tenth of its copper. Petroleum has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Congos banking sector set for two flat years after fast. Democratic republic of the congo resources and power.
Democratic republic of the congo list of african countries. Democratic republic of congo overview world bank group. Historically, the republic of the congo currency reached an all time high of 794. Democratic republic of the congo democratic republic of the congo transportation and telecommunications. That is the period when the inhabitants of the congo river delta first came into contact with europeans. Democratic republic of the congo democratic republic of the congo resources and power. Kinshasa national capital, democratic republic of the congo. Brazzaville is the capital of the republic of congo. It is the second largest country in africa by area and the eleventh largest in the world. After its independence it became known as the republic of zaire between 1960 until 1997. The currency of democratic republic of the congo is the franc cdf.
Democratic republic of the congo is an independent country. Today this country is known as the democratic republic of congo, or congokinshasa. Republic of the congo currency 19952020 data 20212022. Provided that political and security stability is guaranteed for at least a decade, drc could become one of the richest and highperformance. One of the largest cities of subsaharan africa, it is a special political unit equivalent to a congolese region, with its own governor. The following drcsourced payments are subject to a wht in the democratic republic of the congo. The top 10 restaurants in brazzaville, republic of congo. The democratic republic of the congo drc is a country located in central africa.
The democratic republic of the congo was formerly, in turn, the congo free state, belgian congo, congoleopoldville, congokinshasa, and zaire or zaire in french. Carrying or holding foreign currency in the drc is not prohibited. Democratic republic of the congo drc is the largest francophone country in africa, with 90 million inhabitants, 80 million hectares of arable land and rich reserves of natural and mining resources. The republic of the congo, commonly referred to as the congo, is a 2,000 square mile nation in the central part of africa. So there is all over the year the same difference of 1 hours to greenwich mean time. The democratic republic of the congo also known as dr congo, the drc, droc. The republic of the congo also known as congobrazzaville, the congo republic, rotc. If you are traveling to brazzaville, you will need to exchange your currency for the congolese franc. Democratic republic of the congo is the third largest country of africa and it was formerly known as zaire. The geography includes active volcanoes near the city of goma, mountains in. Kinshasa sits on the banks of the congo river, the boundary between drc and the congo. It is bordered by gabon, cameroon, the central african republic, the democratic republic of the congo and angola the exclave of cabinda. The word is derived from the bakongo ethnic group, living in the congo river basin. Democratic republic of the congo facts on largest cities.
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