Congo will ban cash payments in US dollars and other foreign currencies, forcing transactions into the banking system from April 2027.
The Democratic Republic of Congo (DRC) has announced a ban on cash payments in United States dollars and other foreign currencies as authorities move to strengthen control over the national economy. The Central Bank of the Congo said individuals and businesses will no longer be allowed to make or receive foreign currency payments in cash.
Under the new policy, foreign currency transactions will only be allowed electronically through the formal banking system. Commercial banks will also be prohibited from physically importing foreign banknotes, marking one of the country’s strongest moves yet against dollar cash circulation.
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Central Bank Governor Andre Wameso said the regulations will take effect from April 9, 2027. “From April 9, 2027, no person will be authorised to carry out cash transactions in foreign currencies,” he said.
The decision targets a long-established dollar-based system in the Congolese economy. Years of political and economic instability, together with hyperinflation in the 1990s, pushed many households and businesses to rely on the US dollar as a safer store of value.
During that period, inflation reportedly reached around 2 000 percent, weakening confidence in the local currency. Since then, dollar use has remained widespread in business transactions, savings and pricing of goods and services.
Today, much of the economy remains heavily dollarised, with most transactions above US$5 commonly conducted in US currency. Authorities say this has limited the effectiveness of monetary policy and weakened demand for the Congolese franc.
The Congolese franc currently trades at roughly 2 300 per US$1, compared with around 920 in 2010. The long-term depreciation reflects continued currency pressure and weak public confidence in the franc.
Previous efforts to reverse dollarisation have delivered limited results. In 2024, authorities introduced a directive requiring electronic payment terminals to accept only francs, but US dollar cash continued to dominate many retail and informal market transactions.
By targeting physical circulation of US dollars, the latest policy goes further than earlier reforms. However, analysts say implementation could be difficult in a country where cash remains the main method of payment for millions of people.
The move is also linked to efforts by the DRC to exit the Financial Action Task Force grey list. The country remains listed due to weaknesses in anti-money laundering and counter-terrorism financing systems.
Recent reforms, including stricter laws adopted in 2022 and expanded in 2025, increased reporting requirements for banks and businesses. The country’s financial intelligence unit, CENAREF, has also been given stronger powers to investigate suspicious transactions.
By shifting foreign currency use into traceable banking channels, authorities are seeking to close loopholes created by unrecorded cash-based transactions. Officials believe stronger oversight could improve transparency and strengthen the financial system.
The policy comes as economic conditions in the DRC show improvement. Economic growth is projected at 6.2 percent in 2026, supported by mining activity and steady performance in non-extractive sectors.
The country remains important to global supply chains for critical minerals such as cobalt, which is widely used in electric vehicle batteries. This has continued to attract investment interest from the United States, China and Europe.
Inflation has reportedly fallen sharply to 2.2 percent year-on-year as of March 2026, down from more than 10 percent a year earlier. The central bank has since reduced its benchmark interest rate to 13.5 percent.
Despite these gains, pressure on the franc remains. The local currency has weakened on the official market this year, while the difference between official and parallel exchange rates points to deeper structural challenges.
The DRC’s decision reflects a wider trend across Africa, where countries such as Nigeria, Ghana and Angola have at times tightened controls on foreign currency use. If successfully implemented, the policy could strengthen monetary sovereignty and increase confidence in the national currency.
