Congolese State Never Sold PHC Shares Due to Non-Payment, Company States

The Congolese state never sold its shares in the company Plantations et Huileries du Congo (PHC) because it never completed the payment for them, according to the company's management. Amidst speculation about the state "selling off" its stake, PHC held a press conference in Kinshasa on Monday, June 1, 2026, to clarify the situation.

Christian Kabuya Mulumba, director of public and institutional relations at PHC, explained that the state's withdrawal, formalized in August 2025, was a voluntary decision stemming from its failure to pay for its subscribed shares. "The public must understand that the Congolese state never provided the funds corresponding to the subscribed shares. Therefore, claiming there was a sell-off or sale of shares is untrue, as these shares were never released," Kabuya Mulumba stated.

This voluntary withdrawal by the state was crucial, as it allowed the Democratic Republic of Congo to avoid forced exclusion proceedings under OHADA (Organization for the Harmonization of Business Law in Africa) regulations, which could have resulted in penalties.

PHC expressed regret over the company being drawn into political debates, highlighting its role as a major economic player in the DRC. The company directly employs over 11,000 people, with 90% residing in rural areas across the Mongala, Tshopo, and Equateur provinces. PHC stressed its regular fulfillment of tax and parafiscal obligations.

The company warned that the ongoing controversies could undermine national efforts to improve the business climate in the DRC. "Such allegations are likely to harm the improvement of the business climate promoted by the President of the Republic and the government. This campaign risks compromising social peace between the company, its employees, and the local communities benefiting from our investments," Kabuya Mulumba cautioned.