Cashless in the DRC: The Invisible Revolution Awaiting SMEs

In the streets of Kinshasa, Lubumbashi, and Kolwezi, cash remains king. Yet beneath the surface, a quiet transformation is taking place. The Democratic Republic of the Congo is steadily moving toward a less cash-dependent economy, driven by banking digitalisation, the rapid growth of mobile money, and reforms announced by the Central Bank of the Congo (BCC).

The strongest signal came from the BCC's Monetary Policy Committee, which has proposed banning cash transactions in foreign currencies from April 2027. If implemented, the measure could fundamentally reshape the country's economic habits and accelerate the adoption of digital payments.

For Sophie Kafuti, Managing Director of VISA DRC, the challenge extends far beyond modernising payment systems. It is about fostering lasting changes in behaviour by promoting compliance, transaction traceability, and greater financial inclusion. This perspective is echoed by Marie-Gabrielle Opese, President of the Congolese Banking Association (ACB), who views the gradual reduction of cash dependency as a natural step toward improving transparency across the country's financial system.

However, the road ahead remains challenging.

For many Congolese small and medium-sized enterprises (SMEs), particularly subcontractors operating within the mining industry, cash continues to dominate everyday business. Daily wages, local purchases, logistics expenses, and payments to small suppliers are still largely settled in cash because it offers a level of speed and accessibility that digital infrastructure cannot yet consistently guarantee.

The transition to a cashless economy will therefore require much more than regulatory reform. It will demand substantial investment in digital payment infrastructure, broader internet connectivity, increased deployment of electronic payment terminals, and comprehensive financial literacy initiatives to encourage adoption across businesses and communities.

For mining subcontractors, the shift carries significant strategic value. A more digital economy provides stronger transaction traceability, reduces the security risks associated with handling cash, improves access to financing, and strengthens corporate governance. These advantages are becoming increasingly important as major mining companies and international partners place greater emphasis on transparency, compliance, and financial accountability throughout their supply chains.

The question is no longer whether a cashless economy will become a reality in the DRC, but how quickly the country can adapt to this new landscape. Beyond the gradual disappearance of banknotes lies a far more profound transformation: the formalisation of the Congolese economy and the creation of a more transparent, inclusive, and globally competitive business environment.