Breaking news published on 15/09/21 at 10 a.m. - A contract to develop six Grand Inga mega dams seems to be slipping out of the mining giant's hands. Founded by Australian billionaire Andrew Forrest, Fortescue Metals had pledged to invest $80bn.
The African Development Bank is in talks with DRC authorities over its support for one of the vast Grand Inga project hydro-electric dams and is keen to see companies compete to develop it. At stake is some $55m in financing and the bank's seal of approval.
Xi Jinping's regime has invited the Congolese head of state to visit Beijing later this spring to discuss economic cooperation between the two countries. The invitation comes as Washington, which has made a dramatic return to the DRC since the election of Felix Tshisekedi, is closely scrutinizing Chinese activity in the country.
President Tshisekedi has a team of nine special advisors he likes to call on. Playing on rivalries among the members of Joseph Kabila's Front Commun pour le Congo, some have taken charge of state matters even if that means encroaching on the portfolios of the ministers concerned.