DRC: Goma faces unprecedented financial crisis
Two months after the M23 captured the city, Goma is facing an unprecedented financial crisis.
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Two months after the M23 captured the city, Goma is facing an unprecedented financial crisis.
READ MORE : http://www.africanews.com/2025/03/17/drc-goma-faces-unprecedented-financial-crisis
Subscribe on our Dailymotion channel and receive all the latest news from the continent.
Africanews is available in English and French.
Website : www.africanews.com
Facebook : https://www.facebook.com/africanews.channel/
Twitter : https://twitter.com/africanews
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NewsTranscript
00:00Two months after the M23 rebels captured the city, Goma is facing an unprecedented financial crisis.
00:10The closure of banks, a security measure implemented due to clashes, has crippled local economy and left thousands of families in a desperate situation.
00:21Since the banks closed, life has become too difficult. I have a bank card here, but there is no way I can withdraw money, so eating has become difficult.
00:32I have a very large family and finding food has become difficult for us.
00:39Once lively with commerce and everyday activities, the streets are now deserted.
00:44The shutdown of banks has disrupted the circulation of money, bringing economic activities to a standstill.
00:50We are going through a very difficult time and we are suffering.
00:55Work is hard to find and if you are working there is no way of getting money because there is no money in circulation.
01:02This closure worsens an already challenging situation, leaving the community in a deadlock.
01:08We work with the banks, we take money from the bank which allows us to work too.
01:13But at the moment the banks aren't opening and it's difficult for us to get money to work.
01:18We can't work with banks closed, so we are asking the leaders to see how to reopen the banks so that life may continue as usual.
01:28Due to the cash shortage in Goma, many residents are travelling to Gisenyi, Rwanda, to withdraw money from their bank accounts.
01:38I am from Rwanda. I went to make a withdrawal because we already have a problem back home.
01:45The banks are closed and when we need money it's not easy to get it.
01:50So I saw it fit this morning to cross to the other side to get some cash.
01:56Banking institutions are awaiting approval from Kinshasa to reopen while the local population continue to suffer significantly.