Democratic Republic of Congo names new central bank governor

By James Tasamba

KIGALI, Rwanda (AA) - Democratic Republic of Congo President Felix Tshisekedi appointed a new governor of the Central Bank of Congo on Wednesday, replacing the first woman to have headed the bank, according to a presidential order.

Andre Wameso replaced Malangu Kabedi Mbuyi, who had served in the position for slightly over four years.

According to the presidential order issued by the president’s spokesperson, Tina Salama, Mbuyi was appointed to the new position of president of the board of directors of another financial institution known as CADECO.

Before his appointment, Wameso was deputy chief of staff to the president in charge of economic and financial issues.

Analysts said his appointment comes amid inflationary pressures and persistent challenges related to the stability of the Congolese franc.

Congo’s inflation rate year-on-year stood at 8.4% at the end of June, according to the central bank.

Elected as a legislator in the last legislative elections, Wameso did not take up his seat in the National Assembly, preferring to maintain his position in Tshisekedi's Cabinet.