The Hindu Business Line : Africa seeks investments in mining

New Delhi, March 20 In an attempt to woo Indian investments in Africa, the continent is seeking business in the mining, power generation and oil and gas exploration sectors.

The Congo Government was restructuring the investment rules and regulation for making it more attractive to foreign companies. Mr Bwabwa Wa Kayembe, Director General, National Agency for the Promotion of Investments, Democratic Republic of Congo, said that the country could match India’s search for minerals.

Speaking at the CII-Exim Bank India-Africa Project Partnership Conclave 2008, he stated that the Congo Government had liberalised all its business sectors, including mining which should attract the attention of international companies with healthy technical and financial capabilities. He also said that the country had set up an agency to facilitate investments in mining sector. However, concern was drawn whether the policies in both the countries were rightly aligned to facilitate joint ventures in the mining sector.

Mr Felix C. Mutati, Minister of Commerce, Trade and Industry of Zambia, spoke on the need to ensure transparency in licensing and emphasised on value addition to make mining and minerals exports more competitive.

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