Wealth in Poverty.

The DRC or the Democratic Republic of

Congo is purported to be home to

trillions of dollars’ worth of rare earth

minerals and untapped natural resources,

but it's considered one of the poorest

countries in the world.The Republic is

so resource Rich that it has Timber oil

and gas iron ore gold diamonds and

minerals critical to the energy

transition like Cobalt and copper. It is

one of the most biodiverse areas in the

world, but as of 2022 it ranked 96th out

of 223 countries in terms of GDP based

on the World Bank. Why is this the case?

The largest nation in sub-Saharan Africa

SSA is the Democratic Republic of the

Congo. The DRC is blessed with

extraordinary natural resources

including the second largest rainforest

in the world, Cobalt and copper mines,

hydroelectric potential major arable

land and abundant biodiversity; yet with

more than 70 percent of its inhabitants

living in extreme poverty. The DRC is

still one of the world's poorest Nations;

around 60 million Congolese survived on

less than two dollars and fifteen cents

per day. In 2022 political unrest is one

of the key causes of the nation's

poverty and Decades of strife and

violence have afflicted the DRC. While

numerous armed groups and militias Vie

for control of the nation's resources, a

serious ongoing humanitarian crisis has

resulted from a protracted history of

conflict. Political upheaval instability

and authoritarian governance

additionally population have been

forcibly displaced since the end of the

Congo Wars in 2003. These characteristics

haven't changed and Corruption is still

a big issue. The nation has a history of

unscrupulous leaders that have stolen

billions of dollars from the national

treasury leaving little money for social

and development initiatives. This has

resulted in a shortage of funding for

Vital infrastructure projects that are

needed for the development and growth of

the economy including roads hospitals

and education. Deforestation, Mining and

other human activities that have

resulted in soil degradation erosion and

biodiversity loss have also created

severe environmental problems in the DRC.

The DRC is one of the wealthiest nations

in the world in terms of Natural

Resources with an estimated 24 trillion

dollars’ worth of undiscovered minerals.

Lithium and Cobalt are just two of the

many natural resources found in the

Democratic Republic of Congo along with

copper gold and. The DRC is a

significant player in the world economy

since these minerals are essential for

many Industries including Aerospace.

Automotive renewable energy and

electronics lithium is a highly reactive

soft silver white metal used to make

batteries, Ceramics glass and

pharmaceuticals. Lithium reserves in the

nation have yet to be fully investigated

but it's thought to contain sizable

unexplored amounts. Cobalt is another

mineral that's thought to be abundant in

the Republic with experts arguing that

as much as 60 percent of the world's

Cobalt can be found in the DRC. A few

grams of cobalt are needed for a

smartphone tablet or laptop, whereas 22

pounds is needed for an electric vehicle.

The DRC is the world's greatest producer

of cobalt with estimated reserves of

roughly 3.6 million metric tons. However,

there has been numerous charges of

corruption, environmental harm and human

rights violations related to the mining

of these minerals. In the DRC the mining

sector has come under Fire for allegedly

exploiting; child labor with an estimated

40 000 kids working in Cobalt mines and

other mines Across the Nation. The DRC

has the potential to play a significant

role in the production of lithium and

Cobalt due to the rising demand for

electric vehicles renewable energy

storage systems and other high-tech

goods and many Congolese people's living

standards could be dramatically raised

by the natural riches in the DRC. If the

resources were harvested ethically it

would create employment opportunities,

bring in money for the government

upgrade the infrastructure and make

investments in vital services like

health care and education; but to do this

the mining sector needs to be managed

responsibly and sustainably.

Despite this natural richness, the DRC

currently has one of the lowest

economies in the world due to capacity

expansion and a rebound in global demand.

Mining sector Investments and exports

continue to be the main drivers of

development. However, non-mining sector

growth was moderate and this was

particularly true of the services sector.

A bigger current account deficit was

caused by the fact that increasing food

and fuel costs could not be offset by

greater export revenues. However, foreign

direct Investments and external

financing helped to bolster reserves in

limit excessive currency rate volatility.

The protracted conflict in Ukraine

increased the price of food and energy

globally which put pressure on domestic

inflation and caused it to increase from

2021 to 2022 as increased income

mobilization was unable to offset

increased capital and current spending.

There's Hope for the

Congo's future. Despite its difficulties,

ongoing efforts must address the

infrastructural war and Corruption

problems the road ahead may be difficult

but the future of the DRC is in the

hands of its citizens and leaders.