South Africa and the DRC announced the first inauguration of the Chamber of Commerce, Crafts, and Services to boost bilateral trade and investment
Image: IOL
As tensions continue to soar between Rwanda and South Africa over their military presence in the Democratic Republic of Congo (DRC), both South Africa and DRC showed a united front by announcing their first inauguration of the Chamber of Commerce, Crafts, and Services to boost bilateral trade and investment amid regional conflict.
Speaking to IOL on Monday, Sifa Tshiswaka, President of the Chamber of Commerce and Services DRC/RSA, said the inauguration, set for Saturday, February 8, serves as “the first official conduit for investment, trade, cultural exchange, and economic development” between the two countries.
“Bilateral trade between DRC and RSA has been under-potentialised until this point, highlighted by the $1.33 billion trade deficit between the two nations.
“Establishing this Chamber will unlock economic potential and ensure sustained long-term growth by increasing the baseline GDP for both nations, which the trade multiplier effect will drive.
Among the Chamber's objectives, Tshiswaka mentioned that it seeks to provide a transparent, structured, and safe market entry process for investors into the DRC and enhance trade and investment in the region.
“This landmark event is critical as the DRC navigates ongoing security challenges, including the devastating conflict in the Eastern city of Goma. The crisis underscores the urgency of economic stability and regional cooperation as key drivers of resilience and recovery.
“The Chamber remains committed to fostering sustainable business growth that empowers communities, creates economic opportunities, and contributes to long-term peace-keeping efforts. By enhancing trade and investment between South Africa and the DRC, the Chamber seeks to support small and medium-sized enterprises (SMEs) in overcoming barriers to growth, leveraging the African Continental Free Trade Area (AfCFTA) to expand into broader markets,” she said.
Among notable guest speakers expected at the event from the DRC delegation are Tshiswaka, Glodie Elifa, Head of Division for the formalisation and integration of small businesses at the Ministry of Entrepreneurship, Small & Medium Enterprises and the department Secretary General Zady Rukiya Ramazani, Director General Jean-Paul Kapongo from the Mines Ministry and Etienne-Claude Mabunda, Commercial Director of the DRC’s largest bank, Raw Bank.
The South African delegation includes Sports Minister Gayton Mckenzie, former CEO of the South African Black Business Council’s Build Environment Foundation Tshepo Kgaudi, the President of the African Business Consortium, and Talifhani Banks, the founder of Analytics X, Spaza Eats, and winner of the BRICS international award.
Meanwhile, Rwandan officials continued questioning South Africa’s role in the DRC, alleging that President Cyril Ramaphosa is advancing his mining interests, an allegation that South Africa denied, arguing it is on a peacekeeping mission.
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