Economy

DRC reopens banks in North Kivu, offering hope for economic recovery

Date: Apr 7, 2025

In a move aimed at stabilising the region's economy, the Democratic Republic of Congo (DRC) River Alliance (AFC/M23) has announced the reopening of banking services in areas under its control in North Kivu.

This initiative is seen as a crucial step towards restoring financial stability to a region heavily impacted by ongoing conflict.

This Monday, April 7, 2025, the AFC/M23 Co-ordinator officially launched the reopening of banking operations at the CADECO Bank in Goma, the provincial capital. This reopening will see not only Goma’s banking services resume but also the re-establishment of banking operations in other regions under M23 control across North Kivu.

The AFC stated that CADECO Bank will play a central role, acting as the primary supplier of services to other financial institutions in the province. For residents of Goma, this move is being welcomed as a key element in reviving the local economy, with many hopeful that banking services will pave the way for the return of other commercial activities.

Local citizens attending the event expressed relief at the development, which they believe will help restore normalcy and provide a platform for economic recovery. The return of banking services is seen by many as an early sign that stability is beginning to return, offering a much-needed found

--ChannelAfrica--

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