General Information

The Congolese economy remains dominated by oil, which accounts for about 55% of GDP, 70% of budget revenues and 85% of exports.

France is the 1st supplier and 9th customer of Congo, the first customer being China. Approximately 70 French subsidiaries are listed in Congo, to which are added an equivalent number of Congolese companies with French interests. The French presence is particularly strong in the oil and parapetroleum sector, but also in logistics and transport, agri-food, construction, banking, distribution…

Means of Payment & Banking Specificities

Since the COVID period, Congo has slowed its rate of imports, managed its foreign exchange resources and suffered international inflation.

We recommend the use of the confirmed documentary credit, with payment on demand or up to 30 days. Delays are very common if the operations are not secured by a bank guarantee. These delays are most often due to cash flow problems of Congolese companies due to lack of bank support and due to currency problems (unavailability at the time of transfer). In addition, a tightening of foreign exchange transfer conditions with the obligation for commercial banks to ensure that importers are up to date with all previous transactions that may be pending (BEAC circular of 24 May 2021 for the attention of commercial banks).

Finally, exchanges with Congolese banks take a lot of time due to a lack of responsiveness of interlocutors.

Sources: MOCI – COFACE – Business France – EULER HERMES – les Echos data