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Kenyan, Rwandan Firms Chase Deals in New Bloc Entrant Congo

  • Companies from Kenya plan to invest $1.6 billion in Congo
  • Rwanda’s biggest bank to open representative office in Congo
The banks of the Congo River in the Congolese capital Kinshasa.
The banks of the Congo River in the Congolese capital Kinshasa.Photographer: Lisa Murray/Bloomberg
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Investors from Kenya plan to invest about $1.6 billion in the Democratic Republic of Congo, and Rwanda’s biggest bank will open an office there after the country became the newest member of the East African Community.

About two dozen companies from Kenya, the bloc’s largest economy, are looking to expand in Congo, with investments in cement-manufacturing to food-processing and finance, Equity Group Holding Plc said in a statement. Kenya’s largest lender by market value plans to inject $100 million in its Congolese subsidiary EquityBCDC to enhance “capacity to fund development projects and large mining & manufacturing companies in DRC,” it said.