The Chairman and Chief Executive Officer of the BGFIBank Group, Henri-Claude Oyima, confirmed that his financial institution will subscribe to Treasury Bills, following a meeting held on Wednesday, June 8, in Kinshasa with the Minister of Finance, Nicolas Kazadi, according to a statement from the Communication Unit of the Ministry of Finance.

“Together with the Minister of Finance, we discussed the issue of financing the economy and what our bank is capable of doing to support the economic recovery process initiated by the State. Of course, subscribing to Treasury Bills is part of our day-to-day activities. Therefore, we will subscribe to Treasury Bills,” said Henri-Claude Oyima.

Suspended since March 9, 2021, the issuance of Treasury Bills and Bonds is expected to resume on June 22, according to the Ministry of Finance.

As part of preparations to relaunch these issuances, the Minister of Finance recently convened a meeting with the Governor of the Central Bank of Congo, Déogratias Mutombo, the Director General in charge of Monetary Policy at the Central Bank of Congo, Jean-Louis Kayembe, as well as representatives of the banking sector, in the presence of the Vice-Minister of Finance, O’Neige N’Sele Mimpa.

In light of weak revenue mobilization, the national executive launched Treasury Bills in October 2019 in order to diversify its sources of financing and meet persistently high public expenditure.

A Treasury Bill is a debt security issued by the State and repaid at maturity. In the Democratic Republic of Congo, these instruments are issued by the government through the Public Treasury. When an economic operator or an individual purchases a Treasury Bill, they lend money to the State and effectively become a creditor. Fully guaranteed by the issuing government, Treasury Bills are among the safest investment instruments on the money market.

Source: Desk Éco