Central Banks

Congo’s New Central Bank Chief Wants to Wean Nation Off Dollar

Andre Wameso, governor of the DRC central bank, in his office in Kinshasa, on Aug. 20.Photographer: Michael J. Kavanagh/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Michael J Kavanagh

August 22, 2025 at 10:07 AM EDT

The Democratic Republic of Congo’s new central bank governor is on a mission to restore faith in the nation’s currency and reduce its reliance on the US dollar, which is used for nearly 90% of domestic transactions.

Andre Wameso faces an uphill battle, given that his countrymen remain scarred by years of hyperinflation in the 1990s. The Congolese franc is also notoriously volatile and is currently near an all-time low against the greenback.