BCC extends Afriland First Bank resolution mandate

BCC extends Afriland First Bank resolution mandate is profiled by BTW Media because public-source evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• Six-month renewable mandate extension for Afriland First Bank CD S.A. starts 20 July 2024.
• Hôtel des Monnaies of BCC bolsters security with advanced printing techniques.

Banque Centrale du Congo (BCC) has extended the mandate of the resolution commissioner at Afriland First Bank CD S.A. for six months, beginning 20 July 2024. This extension is in line with organic law no. 22/069, aiming to ensure regulatory compliance and financial stability.

Mandate extension for resolution commissioner

In a move to reinforce financial stability, the Banque Centrale du Congo (BCC) has announced an extension of the resolution commissioner’s mandate at Afriland First Bank CD S.A. This six-month renewable extension is effective from 20 July 2024 and aligns with organic law no. 22/069 of 27 December 2022, which governs the activities and control of credit institutions.

The resolution process will be overseen by a team of appointed members, including:

1. Mr. Mudiay Mpinga, President

2. Mr. Mbulu Mombito, Member

3. Mr. Tshibambe Kishi, Member

4. Mr. Mukendi Wa Buadi, Member

5. Mr. Ngankoy Kampwo Markamp, Member

6. Madame Masime Zihindla, Member

7. Mr. Muwawa Lokenye, Member

Industry challenges and innovations

The security printing industry constantly faces challenges like counterfeiting threats and the need for technological advancements. Innovations such as advanced security features in banknotes and blockchain technology for document verification are crucial in staying ahead of counterfeiters and ensuring the security and efficiency of printing processes.

The Hôtel des Monnaies’ commitment to security and innovation is instrumental in protecting the integrity of our national economy.

A BCC representative

About the Banque Centrale du Congo (BCC)

The Banque Centrale du Congo (BCC) is the central bank of the Democratic Republic of Congo, playing a vital role in the country’s financial stability and economic development. Established with the mandate to regulate and oversee financial institutions, the BCC is committed to maintaining a stable and robust financial system.

The BCC operates the Hôtel des Monnaies, a security printing facility renowned for its expertise in producing banknotes and security documents. This facility is integral to the BCC’s operations and is organized into several divisions to ensure efficiency and security.