Telecommunications companies operating in the Democratic Republic of Congo (DRC) have been ordered to open 25 percent of their share capital to local investors by July 2027, a move aimed at broadening domestic participation in a rapidly growing sector.
The decree, signed on February 27 by Minister of Posts and Telecommunications José Mpanda and published on March 9, retroactively halves a ten-year compliance moratorium previously granted to operators. The requirement affects roughly 30 percent of total telecom sector capital, including a 5 percent allocation for company employees mandated under Article 40 of the DRC telecommunications and ICT law. Companies must implement the local subscription within three years of incorporation if not already completed.
President Félix Tshisekedi recommended stricter enforcement of Article 40 in January, emphasizing that delays in the 5 percent employee allocation “deprive workers of legally recognized rights, maintain governance imbalances, and weaken social dialogue.” The government views the broader 25 percent local ownership target as a step to distribute economic benefits more equitably and strengthen domestic participation in strategic sectors.
The DRC telecom market has experienced significant growth in recent years. Sector revenues reached $2.09 billion in 2024, up nearly 9 percent from the previous year. Key players include Vodacom Congo, Airtel, Orange, and Africell, with Vodacom Congo posting US$715.2 million in sales for 2024. Vodacom Group, the parent company, reported FY 2025 revenue of 152.2 billion rand (US$9.3 billion), up 1.1 percent, and declared a 620-cent annual dividend per share.
Most DRC telecom operators are currently majority foreign-owned. Vodacom Congo is 51 percent held by Vodacom Group and 49 percent by Congo Wireless Network, controlled by Gambian businessman Allieu Conteh. Orange RDC is fully owned by France’s Orange Group, Airtel Congo RDC is controlled by India’s Bharti Airtel through Airtel Africa, and Africell RDC is under U.S.-based Africell Group. The new regulation effectively compels these foreign-dominated operators to sell stakes to Congolese investors or employee groups.
Industry analysts note that the requirement could reshape corporate governance and capital structures in the sector, potentially opening opportunities for domestic financiers, private equity, and employee-owned schemes. Companies will need to navigate valuation, compliance timelines, and shareholder agreements to implement the allocations.
Authorities argue that local participation is essential not only for economic inclusivity but also for ensuring alignment between telecom operators and national development priorities. By mandating significant local ownership, the government seeks to enhance social dialogue, employee engagement, and broader stakeholder representation in a sector critical to connectivity, digital services, and economic growth.
The regulation complements wider initiatives across Africa to encourage domestic investment in strategic industries, particularly telecoms, which are increasingly vital for financial inclusion, digital innovation, and job creation. DRC officials have emphasized that adherence to the decree will be monitored closely and that penalties could apply for delayed or incomplete compliance.
As telecom operators adjust to the new ownership requirements, the sector’s performance remains robust, with subscriber growth, mobile internet adoption, and digital services expanding across the country. The reform is expected to foster greater domestic participation in decision-making and revenue distribution while preserving sector growth.
By 2027, at least 25 percent of telecom capital in the DRC is expected to be held by Congolese investors, signaling a major shift in corporate ownership and a potential boost to the local economy.
