Central Bank Governor Defends Franc Strength And Outlines April 2027 Dollar Rules

Kinshasa, August 14, 2026 - Banque Centrale du Congo Governor Andre Wameso defended the recent appreciation of the Congolese franc, saying it was driven mainly by adjustments to reserve requirements rather than large-scale foreign exchange interventions.

Speaking publicly on August 13-14, Wameso said central bank reserves stood at about USD 8 billion, enough to cover around three months of imports. He also pointed to monetary gold accumulation as part of efforts to strengthen financial stability, and said Congolese franc bank deposits rose from CDF 1,450 billion in August 2025 to CDF 2,400 billion at the end of June 2026.

Wameso said the stronger franc had reduced the local-currency cost of dollar-denominated spending, creating a positive net budget effect compared with periods of depreciation. He said the fiscal deficit was largely linked to security spending but had not been monetized by the central bank, instead being financed through Treasury bills and bonds. He declined to disclose the share of war-related spending, calling it a state secret.

The governor also outlined rules due to take effect in April 2027 that would require dollar purchases to be made by card or after conversion into Congolese francs to increase transparency. He said about USD 8.5 billion in cash notes were imported in 2025, while bank deposits increased by USD 1.5 billion, leaving roughly USD 7 billion outside the formal financial system.

The central bank is also working on compliance with Financial Action Task Force standards, including a unique client identifier in cooperation with the African Development Bank. Wameso also backed capitalization of pension funds to support long-term mortgage funding, open recruitment at the central bank, and wider retail access to Treasury securities.