PwC INTERVIEW: “DRC has to reassure the mining companies of its ability to create a secure and stable environment”

Welcome back to DRC Mining Week! You have been a much valued, longstanding partner of the event. Why the decision to partner with the event again and tell us how your experience was in 2018 and what you are planning in terms of your presence at the event in 2019.
During the last couple of years, DRC has reinforced tax and legal regulations such as Syscohada, Revised Mining Code or Subcontracting Law. As a leader in audit, accounting, advisory and tax services, PwC has a duty to assist companies in their legal obligations essential to carry out their business activities. Moreover, considering that we are present in Lubumbashi and that most of our clients belong to mining sector, I consider that PwC has to take part of the Mining Week which is the most important event for DRC mining sector.

Can we talk about PwC’s activities in DRC. There is a proud history there.
Indeed, PwC has been present in the DRC for nearly 45 years. We work across three departments: assurance, which manages audit and risk issues. The "Tax and Legal" for all questions of taxation, legal interpretation, structuring and tax planning. The third department is the advisory. The latter consists in implementing performance management tools. We can also assist clients to develop their transactions, acquire companies and even seek financing through innovative financing. We have also the ability to intervene on other aspects.
 
Are there any particular mining projects that your organization is involved in that you are particularly excited about currently?
We are auditing the ongoing most promising mining projects such as Kamoa-Kakula project, Alphamin Bisie. We also have in our portfolio some other key players such as ERG, Tiger Ressources, Gécamines , Sicomines...We also provide compliance services (accounting, payroll…) to a number of mining and mining subcontracting entities.

Our tax and Legal team is currently involve in many due diligence work for foreign investors wishing to acquire mining rights or existing mining companies. That shows that DRC is still attracting foreign investors. 
 
What in your view are the main challenges to the African mining sector? And the DRC in particular?
The first thing I am thinking is of course environmental and social responsibility. The mining sector is suffering from lack of energy and has therefore to find alternative solution. Transparencies as well as legal compliance are two challenges for DRC mining sector.

What is your message to prospective investors about the opportunities in the DRC mining sector?
DRC offers huge untapped and high-grade reserves of natural resources. Nevertheless, we cannot hide that DRC is a challenging country so that mining sector players need assistance to operate in this particular environment. 

What is your vision for the sector?
DRC has to reassure the mining companies of its ability to create a secure and stable environment. From their side, mining companies have to act as transparent and compliant players.

How important is Lubumbashi as mining hub for the sector moving forward and being an example for the rest of the country?
Lubumbashi is the gateway of the mining industry in DRC. The mining sector creates a dynamic environment and all the people can benefit from this.
 
What are you most looking forward to at DRC Mining Week? How important is this forum on the mining calendar?
I am expecting to meet new investors interested in the potential of the DRC. Mining Week is the place to be in DRC.

What will PwC’s message be at the event in 2019?
PwC purpose is “to build trust in society and solve important problems”. Therefore, our message is that PwC is present to assist and support its clients in this challenging country.