CONGO - EQS - 12 September 2018 - Wednesday 5 September, 16 African banks including
RAWBANK, the first banking institution in the DRC, and China Development Bank
(CDB) signed an agreement for the establishment of the China-Africa Inter Bank
Association in Beijing (CAIBA).
Creation of the China-Africa Interbank
Association, September 5, 2018.
RAWBANK, the only Congolese
bank to have been selected as founding member of this cooperation, hence
assumes its leading role in the Congolese banking sector alongside
international and African banks. This agreement marks the official
establishment of the first China-Africa financial cooperation multilateral
Based on the presentation
by H.E Xi Jinping, President of China, aimed at enhancing China-Africa relations
and promoting "10 principal cooperation plans" between this country and the
African continent, "eight major actions" of China-Africa cooperation were
planned in order to advance the partnership.
Taking into account the
deficit in meeting the funding needs of African countries with regard to
industrialization, infrastructure connectivity and poverty alleviation, a
closer collaboration between Chinese financial institutions and African
countries was decided.
Within this context, the
China Development Bank (CDB), represented by its President, Mr Hu Huaibang, and
peer financial institutions in Africa jointly established the China-Africa Inter
Bank Association (CAIBA), which is a concrete move in achieving win-win cooperation
and better quality and higher common development.
RAWBANK, Congo's lone bank
to be selected owing to its leading position in the banking sector for more
than 16 years, is henceforth one of the 16 founding members of CAIBA alongside international
and Pan-African banks such as Standard Bank, Absa, Attijariwafa Bank, to name
only a few.
With CDB, CAIBA will, in
the long term, enhance financial cooperation between all member banks to advance
partnership in various domains such as China-Africa infrastructure
interconnection, international cooperation and exchange in the humanities.
This agreement is proof of
CDB and RAWBANK commitment to strengthen the economic ties and investments between
China and African countries, as part of the Forum on China-Africa Cooperation
China Development Bank
As the Chinese government's financial institution for development, the
CDB has always put a premium on cooperation with Africa. Since the launch of
funding cooperation with Africa in 2006, the CDB has continually widened its
cooperation with the financial institutions of African countries by investing
and funding over USD 50 billion in close to 500 projects in 43 African
The CDB encourages Chinese enterprises to invest in Africa, assists
African local governments in solving problems such as funding deficits and
infrastructure construction delays, and strives to develop economic and
commercial cooperation, increase employment and spur economic growth in African
Established in 2002 by the Rawji Group, operating in the Democratic Republic
of Congo since the start of the 20th century in the areas of trade,
distribution and industry, RAWBANK is the country's largest bank as it was the
first-ever to exceed 1 billion dollars in total turnover in 2015.
Having more than 1 600 staff
members with close to 100 sales points, 300 000 customers and 25% of market shares, RAWBANK is
a key player in the development of Congo's economy. Having been certified
and won and award, it is today considered a crucial financial stakeholder in
the DRC, for individuals and SMIs/SMEs, as well as for major enterprises and
RAWBANK is rated by
Moody's (B3), certified as ISO/IEC 20000 and
ISO/IEC 27001, and has established funding partnerships with several
international donors (Proparco, IFC, Shelter Africa, etc.). Safety, cost-effectiveness
and sustainability are RAWBANK's operational priorities to
consolidate its growth strategy, in particular towards individuals and the