MIBA and Gécamines: World Bank warns of the fragility of Congolese state-owned mining companies
A contrast between mining boom and difficulties faced by public companies
While the Democratic Republic of Congo continues to record historic performances in the mining sector, several public companies operating in this strategic industry are struggling to keep pace with this growth dynamic. This is one of the main findings made by the World Bank in its recent report on the Congolese economy.
According to the institution, despite the strong increase in mining exports, Congolese state-owned companies continue to face persistent financial and structural difficulties that limit their contribution to national economic development.
More than USD 5 billion in cumulative losses
In its analysis, the World Bank estimates that Congolese public companies have recorded more than USD 5.3 billion in cumulative losses over the past ten years.
Mining companies are among the most weakened entities, even though minerals are one of the main drivers of growth in the Congolese economy.
At the same time, the DRC continues to strengthen its position among the world’s largest copper producers. In 2025, exports exceeded 3.4 million tonnes, supported by the expansion of mining activities and strong global demand for strategic minerals.
MIBA faces a persistent crisis
The report particularly highlights the situation of Minière de Bakwanga, once considered one of the symbols of the Congolese diamond industry.
According to the World Bank, the company’s wage costs reportedly far exceed its turnover, illustrating the financial imbalances and management problems affecting some state-owned companies.
This situation reflects the recovery difficulties MIBA has been facing for several years, in a context marked by declining production and a lack of investment.
Gécamines remains profitable despite heavy debt
The report also discusses the situation of Gécamines, presented as the public company most exposed in terms of debt.
According to the World Bank, the company accounts for a significant share of the overall debt of Congolese public companies. However, unlike several other state-owned entities, Gécamines remains one of the few public companies still generating significant profits.
Despite this profitability, the company continues to face challenges related to its governance, financial management and the evolution of its business model.
Difficulties also in energy and water
Beyond the mining sector, the report also points to underperformance in the energy and water sectors.
SNEL continues to record significant technical losses on its electricity network, while REGIDESO struggles to ensure sufficient access to drinking water for a large part of the Congolese population.
The World Bank calls for reforms
In response to these findings, the World Bank is calling for structural reforms aimed at strengthening governance, improving transparency and increasing the profitability of Congolese public companies.
For the institution, the challenge now is to enable state-owned companies, particularly in the strategic mining sector, to fully play their role in wealth creation and the country’s economic development.
Héritier Maila / Mines.cd
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