Congo central bank announces penalties for miners that fail to repatriate revenue

July 18, 2017

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Democratic Republic of Congo’s central bank has announced stiff new financial penalties for companies that fail to repatriate at least 40% of their revenues from mineral exports, a decree seen by Reuters on Tuesday showed. Congo, Africa’s top copper producer, has been hit hard by low commodity prices over the last two years and is seeking emergency financial support from international donors to contain inflation expected to top 30% this year.

Category: General