What Happened To Africa's Economy - Part 7 (Case Study of DR Congo)

What Happened To Africa's Economy - Part 7 (Case Study of DR Congo)

After Algeria, DR Congo is the second-largest country in Africa. This is another interesting nation to study because of the weird economic situation of the country.

The country has a population of over 84 million with a nominal Gross Domestic Product (GDP) estimated at $48.994 billion. The inflation rate of DR Congo is estimated to be 5.0% and the percentage of her population below the poverty line is estimated to be 63.9%.

Interestingly, DR Congo used to be known as the second most industrialised nation in Africa. The country has fertile land for agricultural purposes. It is also rich in solid minerals such as gold, diamond, copper, zinc, and cobalt. The country also has a good reserve of crude oil.

70% of the world's Coltan (Columbite and tantalum) reserve is in Congo. Coltan is a major component used in cell phones all over the world. It also contains a reserve estimate of over 30% of the world's diamonds.

However, social unrest like civil war and other internal crises are contributing factors to her underdevelopment. Political instability and corruption in this country is one of the craziest in the world. As a result, the economy suffers a great deal.

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Key players in DR Congo Economy

The Democratic Republic of Congo economy relies majorly on the mining industry and agricultural industry. The Agricultural sector accounts for 44.2% of the country's GDP. Other industries and services account for 22.6% and 33.2% of the GDP respectively.
Here is a brief;

Agriculture

The Agricultural sector is the highest performing sector in the country’s economy. The agricultural industry accounts for roughly half of the GDP. The country is one of the major producers of some agricultural products such as Coffee, textile, processed food, and certain beverages.

Mining

The mining industry in Congo focuses mostly on the exploitation and exportation of solid minerals such as diamond, gold, copper, tin, zinc, and cobalt. Illegal mining activities and smuggling also fuel the internal crises in Congo.

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Factors responsible for bad economic growth in DR Congo

DR Congo is the second-largest country in Africa. Unfortunately, the same is also the second poorest country in the world according to Wikipedia. There are quite a number of factors responsible for this.
Some of these include;

Social Instability and Civil Unrest

The abundance of mineral resources in DR Congo is said to be the reason for her social unrest. Illegal mining by individuals, groups, and militia has resulted in war and conflicts. It is reported that this internal crisis and war leads to the death of over 10,000 civilians every month. Women are also raped and children adopted in crisis zones.

Diseases Outbreak

DR Congo has constantly witnessed the outbreak of several diseases. Outbreaks of diseases such as Malaria, Cholera, Hepatitis A, Polio, and Typhoid fever are common within the country. Also, 1.2% of her population is affected by HIV/AIDS, to put that in context - that is about 1 million people.

Food and Water Shortage

Population displacement due to social unrest is one of the major reason for food shortage in the nation. Dependence on mining and the production of cash crops only are also contributing factors. There is also a high rate of malnutrition among the general populace.

Conclusion

Sadly in Congo resources that should have been responsible for an upsurge in her economy is seemly responsible for its crisis and economic downturn.
Regretable this is the case with several African countries. Africa needs help and you and I were born for such a time as this. What will you do?

Don’t forget to leave us a comment below. We will round up the Africa series tomorrow.

References

Wikipedia: Economy of the Democratic Republic of Congo
Wikipedia: Poverty in the Democratic Republic of Congo

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Comments

stanislaus 20 Apr '21
Nice piece
temi 12 Apr '21
Corruption
bamanga 12 Apr '21
Am very happy to be part of the platform. Good to know the crestwaytrade......
thesecondson 12 Apr '21
That's a good crestway. Keep it up
maceke 12 Apr '21
Each of us has to contribute to the growth of Africa in anyway we can.
jwealth 11 Apr '21
Am loving Crestway
johnagha 11 Apr '21
Keep it up
ajuluchukwu 11 Apr '21
Crestway surest way
samsono 11 Apr '21
You know it really saddens the heart to know that all that causes this is the resources yet untapped leaving the countries into jeopardy. The Question still lingers "What can we do"?
ayakaterver01 11 Apr '21
Great work...keep it flying
nafsy 11 Apr '21
Great piece
julies 11 Apr '21
Interesting
nafsy 11 Apr '21
Great piece
nafsy 11 Apr '21
Great piece
chosenboy 11 Apr '21
Interesting
smeg 11 Apr '21
Poor governance is a major factor
omolejerome 11 Apr '21
@crestwaytrade,apology accepted, you guys are really trying.
ogugua 11 Apr '21
Interesting
saunobele 11 Apr '21
Why countries in African faces all these
segunfordpeak 11 Apr '21
Well-done everyone, and enlightening research by crestway team.... Bravo Please, is it possible we enable engagement for comments, such that the comment with the highest like will appear on top....
junior001 11 Apr '21
Corruption wahala
vychthur 11 Apr '21
God bless crestway
idowu_omohu0001 11 Apr '21
Africa needs a change
vychthur 11 Apr '21
May God help Africa especially Nigeria
nwokedi 11 Apr '21
Enlightening article!!!!!
ayotunde 11 Apr '21
Corruption everywhere..
umoh 11 Apr '21
God bless crestway trade
dareakins 11 Apr '21
God will deliver Africa from all this.
temi 11 Apr '21
Corruption
tosyn 11 Apr '21
Welldone CRESTWAY
bolurepublic 11 Apr '21
God bless Crestway.
op3y3mi 11 Apr '21
Going through the comments, ppl are just saying we should go back to Agriculture... LMAO, who wants to go to farm??? Nigeria should develop more technological infrastructure that can help industrialization and mechanization... Then the machines and industries will do the farming.
op3y3mi 11 Apr '21
I can categorically argue it that presence of minerals is a major contributor to underdevelopment in this part of the world. Do you think the breakouts in DR Congo is natural. Western powers put up problem amidst us so they can continue to exploit us. Nigerians, oil is not precious like b4.
evedyne 11 Apr '21
Hmm Congo has potentials
osak 11 Apr '21
the Earlier Africa, More importantly Nigeria taps into Agriculture, the better
olad 11 Apr '21
Interesting
adeyemiba 11 Apr '21
Agriculture is the untapped crude that african nations need to unearth!
fagbohun 11 Apr '21
We need to go back to agricultural.
jonathanchama 11 Apr '21
African's are in abject poverty. Our leaders aren't serious with our government.
ijebs 11 Apr '21
Enlightening....
kenhinde 11 Apr '21
We Africa really needs to go back to the way we started, Africa and agriculture....
adebiyi 11 Apr '21
Agriculture is one thing Africa should focus on
ebipade 11 Apr '21
Very educative
oladiti 11 Apr '21
Insightful write up ...
michael95 11 Apr '21
Nice write up
rosysexy19 11 Apr '21
Nice one, cnt wait for the last part
ofure 11 Apr '21
Nice post... Thanks
aliwa 11 Apr '21
Improve on timely update
amodumujeeb 11 Apr '21
With the statistics so far, We Africans are predominantly farmers and it is high time we return back to Agriculture in full fledge.
ayakaterver01 11 Apr '21
Educative and impressive
adebayo 11 Apr '21
So detailed research
crestwaytrade 11 Apr '21
Sincere apologies that the article came late
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