Courtesy of Bloomberg, a report on the DRC’s election:
Voters in the Democratic Republic of Congo are to decide the fate of a nation that could drive the global energy transition and help shape the fight against climate change.
Congo will soon be the world’s second-biggest copper producer and accounts for about 70% of cobalt production, two metals key to the electric vehicle and renewable-energy industries. There are rich seams of gold, and largely untouched oil and gas.
It’s also home to about two-thirds of the second-biggest tropical rainforest, which sucks in hundreds of million of tons of climate-warming carbon dioxide every year.
But that’s all contingent on clean and efficient governance and stability — things that have been sorely lacking in a country the size of Western Europe and home to 100 million people. It’s seen two civil wars and simmering conflict in its eastern regions for the past three decades, and repeatedly faced allegations of widespread graft and plundering.
Felix Tshisekedi, who came to power in a disputed election five years ago, is tipped to win a second term after the opposition failed to coalesce around a single candidate, splitting the vote. His opponents include businessman and soccer-club owner Moise Katumbi, Martin Fayulu, the 2018 runner-up and Nobel laureate Denis Mukwege.
While Tshisekedi initially struggled to assert himself, with Joseph Kabila, the former leader, continuing to pull the strings behind the scenes and the economy battered by the global pandemic, he’s now presiding over rapid economic growth.
Still, whoever wins faces daunting challenges.
Those include ending conflicts and making peace with Rwanda, its neighboring country that Congo and United Nations experts have accused of backing an armed rebellion — an allegation Rwanda denies.
The victor will also need to ensure an investment climate conducive to encouraging mining companies to spend the billions of dollars needed for new operations and to develop the vaunted Grand Inga hydropower project, potentially the world’s biggest.
With its abundant resources and credible, strong governance, Congo has the potential to become an African powerhouse.