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Introduction
The foreign exchange regulations in the Democratic Republic of Congo (DRC) constitute a comprehensive framework of legal and administrative provisions designed to govern foreign exchange operations and currency flows. In 2025, these regulations represent a continuation of reforms initiated in recent years, whilst incorporating significant adaptations aimed at strengthening the use of the Congolese franc (CDF) and stabilising the country’s macroeconomic framework.
I. The Institutional and Legal Framework
A. The Central Bank of Congo as Regulatory Authority
The Central Bank of Congo (BCC) remains the principal regulatory authority for the foreign exchange market in the DRC. Pursuant to its Organic Law No. 18/027, the BCC possesses extensive prerogatives to issue instructions and regulations in this domain. Its role centres on the definition and implementation of monetary policy, including the management of the exchange rate regime.
B. Principal Sources of Regulation
The foreign exchange regulations in the DRC are founded upon several fundamental texts:
• The Organic Law of the BCC promulgated in 2018 defines the powers and missions of the Central Bank, notably its exclusive role in determining monetary and exchange policy. It establishes the BCC as the guarantor of monetary stability and the supervisory authority for foreign exchange operations.
• The Administrative Instructions of the BCC, notably Instruction No. 007 governing the regulation of manual foreign exchange activity (modified in 2023), which defines the conditions for the exercise of manual foreign exchange activity, the obligations of authorised operators, and the applicable sanctions in the event of non-compliance with regulatory provisions.
• Instruction No. 57 concerning the modalities for the transmission of data for the calculation of the indicative exchange rate.
• Instruction No. 43 relating to the management of foreign currency accounts of residents and non-residents. It governs the conditions for opening, operating and closing foreign currency accounts in Congolese territory.
• Specific instructions for certain strategic economic sectors (mining sector, petroleum sector).
II. The Current Exchange Rate Regime
A. A Managed Floating Exchange Rate Regime
The DRC maintains in 2025 a managed floating exchange rate regime, wherein the rate of the Congolese franc is determined by supply and demand in the market, with occasional intervention by the BCC to limit excessive fluctuations. The indicative exchange rate published daily by the BCC serves as a reference for official transactions.
B. Structure of the Foreign Exchange Market in the Democratic Republic of Congo
The foreign exchange market in the DRC comprises:
• The interbank foreign exchange market: a platform where commercial banks and authorised financial institutions exchange currencies amongst themselves. This market represents approximately 75% of the total volume of foreign exchange transactions and operates under the direct supervision of the BCC. Minimum transactions are fixed at USD 10,000 or equivalent, and operations must be declared within a timeframe of 24 hours.
• Authorised exchange bureaux: these are commercial entities officially recognised by the BCC to conduct manual foreign exchange operations. There are approximately 230 authorised exchange bureaux in 2025, primarily concentrated in Kinshasa, Lubumbashi and Goma. They are subject to strict requirements regarding minimum capital (equivalent to USD 50,000), monthly reporting and compliance with anti-money laundering standards.
• Authorised individual exchange dealers: Natural persons authorised to engage in small-scale manual foreign exchange activity. Their number has been progressively reduced since 2023, decreasing from more than 1,000 to approximately 400 in 2025, as part of a policy aimed at professionalising the sector. They are subject to a security deposit of USD 5,000 and regular controls of their activities.
• Bilateral foreign exchange auctions organised by the BCC: these are mechanisms by which the Central Bank intervenes directly in the market to influence the exchange rate by selling or purchasing foreign currencies. These interventions, although occasional, play a crucial role in stabilising the Congolese franc during periods of increased volatility.
III. Specific Provisions of the Foreign Exchange Regulations in 2025
A. Promotion of the Use of the Congolese Franc
Within the framework of measures to de-dollarise the Congolese economy, the BCC has strengthened in 2025 the provisions aimed at promoting the use of the Congolese franc. Since June 2024, a directive requires that all Electronic Payment Terminals (EPTs) be configured exclusively in the national currency. This measure, the complete implementation of which was anticipated for July 2024, is now fully effective in 2025.
In concrete terms:
• All merchants, service providers and commercial entities are required to display their prices exclusively in CDF. Display in foreign currencies is subject to a fine of up to the equivalent of USD 5,000, and in the event of recurrence, to a temporary administrative closure of the establishment.
• Banking establishments and electronic payment operators have been required to reconfigure all payment terminals to accept only transactions in Congolese francs. This measure also applies to online payment platforms and mobile applications, with an obligation for automatic conversion of amounts in foreign currencies to CDF at the official rate of the day.
• Any foreign exchange operation outside the official circuit (authorised exchange bureaux and exchange dealers) is considered illegal and subject to penal sanctions. Controls have been reinforced, particularly in border areas and commercial districts of major cities.
• All fiscal and parafiscal obligations must be paid in the national currency. The tax administrations (DGI, DGDA, DGRAD) no longer accept any payment in foreign currencies, including for companies in the extractive sector that previously benefited from certain exemptions.
• All contracts concluded between residents must be denominated in Congolese francs, including commercial and residential lease contracts that were traditionally expressed in US dollars.
B. Regulation of Manual Foreign Exchange
The regulation of manual foreign exchange, governed by Administrative Instruction No. 007 of 1 September 2023, defines two categories of authorised operators:
• Exchange bureaux: these are legal persons constituted in the form of limited liability companies under OHADA law, and must satisfy the following conditions:
o Possess a minimum fully paid-up share capital equivalent to USD 50,000
o Justify an appropriate commercial premises meeting specific security standards
o Subscribe to professional risk insurance
o Employ qualified personnel who have received training in anti-money laundering matters
o Implement a management information system compliant with BCC requirements
o Pay an annual fee equivalent to USD 2,500
o Submit detailed monthly activity reports to the BCC
• Exchange dealers: these are natural persons authorised by the BCC, subject to the following requirements:
o Deposit a security of USD 5,000 with a commercial bank
o Justify a stable residence
o Have no criminal record
o Conduct the activity at a fixed location authorised by the BCC
o Maintain a daily register of operations
o Submit a simplified monthly activity report
o Pay an annual fee equivalent to USD 500
o Limit transactions to a maximum amount of USD 10,000 per operation
These operators are subject to strict obligations regarding authorisation, reporting, and compliance with anti-money laundering standards.
C. Special Regimes for Strategic Sectors
1. The Mining Sector
Mining companies are subject to a specific foreign exchange regime, defined by Law No. 007/2002 of 11 July 2002 establishing the Mining Code as amended and supplemented by Law No. 18/001 of 9 March 2018, combined with Decree No. 038/2003 of 26 March 2003 establishing the Mining Regulations as amended and supplemented by Decree No. 18/024 of 8 June 2018, and a dedicated instruction from the BCC. This regime notably provides for:
• The obligation to repatriate export revenues: Mining companies must repatriate a minimum of 60% of their export revenues via the Congolese banking system.
• Mandatory allocation of repatriated funds: Of the 60% repatriated, a minimum of 40% must be converted into Congolese francs to cover local expenses (salaries, taxes, local suppliers). The remaining 20% may be maintained in foreign currencies for the payment of imports necessary for the activity.
• Specific modalities for the management of foreign currency accounts: Mining companies are authorised to hold foreign currency accounts with Congolese banks, but these accounts are subject to enhanced surveillance. Any movement exceeding USD 1 million must be subject to prior notification to the BCC.
• Detailed monthly reporting obligations: These companies must produce specific monthly financial statements including the statement of sales, cash flows in foreign currencies and Congolese francs, and a statement of payments to local and international suppliers.
• Annual audit of foreign currency flows: A specific audit of foreign currency flows must be conducted annually by an independent firm approved by the BCC, in addition to the classic financial audit.
2. The Petroleum Sector
Similarly, exploration and production petroleum companies benefit from a special regime, taking into account the specificities of their activity:
A portion of petroleum revenues transits through specific escrow accounts, under the joint control of the BCC and the Ministry of Hydrocarbons.
The requirements for conversion into Congolese francs vary depending on whether the company is in the exploration phase (minimum conversion of 30% of repatriated funds) or production phase (minimum conversion of 50%).
Petroleum companies are authorised to establish exchange risk hedging mechanisms with prior approval from the BCC.
Subcontracting companies in the petroleum sector benefit from an intermediate regime, with an obligation to repatriate 40% of their revenues and convert at least 25% of these funds into Congolese francs.
IV. Exchange Controls and Reporting Obligations
A. Exchange Control
Transactions in national territory must in principle be conducted in the national currency (Congolese francs), but the holding of foreign currencies is permitted. The Law on Combating Money Laundering and the Financing of Terrorism limits to USD 10,000 the cash that may be held upon entry to or exit from the national territory. Any movement exceeding this sum must be made by bank transfer.
The Central Bank of Congo levies a Foreign Exchange Monitoring Fee of 2‰ on all the following foreign exchange operations without distinction as to the status of the originator or beneficiary:
a) Account supply by international transfer and all payments from or to abroad;
b) International debiting of a resident account in foreign currency (RME) or a non-resident account in foreign currency (NRME) using a bank card;
c) Any importation without purchase of foreign currencies;
d) Any exportation without repatriation of foreign currencies; and
e) Any importation or exportation conducted outside the national banking system.
After having paid the relevant tax, having completed the appropriate forms “Model RC”, “Model EB” or “Model IB”, and having submitted the other supporting documents required by the Central Bank, commercial banks are authorised to transfer dividends, capital gains, interest, commissions and fees on foreign loans outside the DRC.
B. Reporting Obligations
Commercial banks, exchange bureaux and other economic operators are subject to regular reporting obligations to the BCC concerning:
• Daily declarations of foreign currency transactions: Commercial banks must transmit electronically, before 16:00 hours each working day, a detailed statement of all foreign exchange operations conducted, including volume, applied rates and the identity of originators for transactions exceeding USD 5,000.
• Weekly reporting of cross-border financial flows: A summary statement of incoming and outgoing international transfers must be transmitted each Friday, classified by nature of operation (imports, exports, services, investment income, etc.).
• Monthly declaration of foreign exchange positions: Before the 10th of each month, financial institutions must communicate their foreign exchange positions by currency, including their forward commitments, options and other derivative products.
• Detailed quarterly reporting for companies in the extractive sector: These companies must produce a special report including the statement of export sales, details of repatriated funds, and justification for the use of foreign currencies retained abroad.
• Annual declaration of assets abroad: Congolese residents (natural and legal persons) holding financial assets abroad exceeding USD 50,000 must declare them annually to the BCC, specifying their nature, location and value.
V. Conclusion
The foreign exchange regulations in the DRC in 2025 are part of an approach to consolidate the country’s monetary sovereignty, whilst adapting to national and international economic realities. The emphasis on de-dollarisation of the economy and promotion of the Congolese franc constitutes the central element of this policy, with the objective of macroeconomic stabilisation and strengthening the effectiveness of national monetary policy.
Economic operators, both national and international, must therefore pay particular attention to these regulatory provisions, the misunderstanding of which may lead to significant administrative and financial sanctions.