As part of efforts by the DRC to strengthen the participation of SMEs in the economy while advancing the development of critical mineral projects, the DRC’s Minister of Industry and SMEs Louis Kabamba Watum has joined the Critical Minerals Africa (CMA) summit as a speaker. During the event, Minister Watum will provide insight into strategies being implemented to support SME participation and growth as well as opportunities for local businesses in the mining industry.

The Critical Minerals Africa 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting [email protected].

The DRC aims to bolster project development and innovation across diverse sectors such as the mining industry by prioritizing skills development among its youth and SMEs. The country has trained over 7,720 women and young entrepreneurs with next-generation entrepreneurship skills through the World Bank-led PADMPME program – an initiative launched in 2018 that provides financial and skills-based support for SMEs. As the DRC intensifies efforts to harness and exploit its critical mineral resources for economic growth and job creation, SMEs are expected to play a more central role in supporting projects.

The DRC represents a highly promising mineral market owing to its sizeable reserves. The country holds the world’s largest cobalt reserves and fourth-largest copper deposits, with many large-scale projects kicking off country-wide. The country’s state-owned mining firm Gecamines kickstarted operations at the 140,000 tons per annum Kipushi zinc-copper mine this July following 30 years of mine maintenance. The resumption of operations at the facility is set to boost the DRC’s copper output, enhance export revenue and create new opportunities for SMEs across sectors such as transportation.

Additionally, Gecamines has independently begun marketing and selling its copper shares from the Tenke Fungurume mine, aiming to increase profitability and stimulate economic opportunities for local SMEs, businesses and economies. At the CMA 2024 summit, Minister Watum is expected to participate in the Ministerial Forum, engaging with African and international mining ministers to discuss strategies and best practices aimed at empowering Africa’s critical minerals industry.

“The DRC is prioritizing the empowerment of SMEs and local businesses, recognizing their pivotal role in driving the sustainable growth in the critical minerals sector. As the industry continues to attract new investments, local SMEs are poised to unlock innovative solutions and infrastructure development that will propel the country’s critical minerals sector forward,” stated Rachelle Kasongo, Project Director at Energy Capital & Power, organizers of CMA 2024.

CMA 2024 represents an ideal platform for Minister Watum to connect with international investors, mining companies and industry leaders to discuss potential collaborations and investment opportunities. The summit is the official deal-signing platform for the African mining sector.