DR Congo to Outlaw Cash Payments in Dollars, Enforce Local Currency Use

The Democratic Republic of the Congo is set to ban the use of foreign currencies, including the U.S. dollar, for cash transactions as part of efforts to strengthen its local currency.

The move was announced by the Banque Centrale du Congo, which said the policy will come into force on April 9, 2027.

According to central bank governor Andre Wameso:

“From April 9, 2027, no person will be authorised to carry out cash transactions in foreign currencies” and no commercial bank would be “permitted to physically import foreign currency”.

He clarified that while cash use will be banned, foreign currencies may still be used electronically via bank transactions.

Transactions in foreign currencies will only be allowed “electronically” through a bank transaction.

The central bank said the decision is aimed at tackling illicit financial flows.

It is intended to “continue the fight against the risk of money laundering and terrorist financing”.

The dollar has dominated transactions in the country for decades, especially after hyperinflation in the 1990s weakened confidence in the Congo franc.

Today, most purchases above $5 are made in dollars, while the local currency has depreciated significantly over time.

Authorities have repeatedly attempted to curb dollarisation, including a 2024 directive mandating the use of the Congo franc on electronic payment systems.

Despite its abundant natural resources, the Democratic Republic of the Congo remains economically challenged, with widespread poverty and significant foreign interest in its mineral wealth.

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