Rawbank, Congo’s Biggest Bank, Eyes Regional Expansion
DR CONGO · BUSINESS
Key Facts
—Top lender: Rawbank is the Democratic Republic of Congo’s largest bank, led by chief executive Mustafa Rawji.
—Record profit: Net profit rose 9% in 2025 to $232 million, with banking revenue up by a third to $682 million.
—Bigger balance sheet: Lending grew about 10% and total assets reached $6.82 billion.
—Development backing: A $265 million package led by the IFC is aimed at private-sector growth and jobs.
—Bond first: Rawbank helped arrange Congo’s first sovereign Eurobond, a $1.25 billion sale that drew orders of $5.2 billion.
—Mining bet: The bank is pitching up to $300 million for a planned copper-and-cobalt refinery in the Lualaba region.
Rawbank, the Democratic Republic of Congo’s largest bank, is turning a record year into a push beyond retail lending and across the region. After lifting profit to $232 million, it is arranging bond sales, channelling Western development money and financing the mines at the heart of the global scramble for copper and cobalt.
A record year for Rawbank
Rawbank closed 2025 as the country’s dominant lender, with net profit up 9% to $232 million. Banking revenue jumped by a third to $682 million as lending grew about 10%.
Total assets reached $6.82 billion, a scale few banks in Central Africa can match. The growth gives Rawbank the firepower to chase bigger, higher-margin business.
The bank is controlled by the Rawji family, a long-established Congolese business dynasty, and has grown from a retail network into the country’s financial heavyweight. Its size now lets it act where smaller lenders cannot.
It serves millions of customers and a growing corporate base. That deposit franchise is what funds its march into bigger, riskier deals.
From retail bank to deal-maker
The most striking shift is into investment banking. In April 2026 Rawbank helped coordinate Congo’s first sovereign Eurobond alongside Citigroup and Standard Chartered.
The $1.25 billion sale drew orders of about $5.2 billion, four times the original $750 million target. That demand signalled that global investors will lend to Kinshasa when the structure is right.
Arranging a sovereign bond places Rawbank in a league usually reserved for global banks. It also deepens its ties with the foreign investors Congo wants to attract.
The bank has also secured a $265 million financing package led by the International Finance Corporation, with Proparco, British International Investment, the eco.business Fund and the OPEC Fund. The money is meant to widen lending to companies and create jobs.
Banking the copper-and-cobalt boom
Rawbank’s next frontier is the mining heartland. It is pitching up to $300 million tied to Buenassa’s plan to build a copper-and-cobalt refinery in the southeastern Lualaba region.
That fits a wider goal across Africa: to process more minerals at home rather than ship raw ore abroad. A local refinery would keep more value, and more jobs, inside Congo.
It matters because China still dominates the refining of cobalt and copper worldwide. Building capacity at home is how producer countries try to claw back a share of that chain.
The bank is also in talks on syndicated financing for the country’s mining groups, the business that both drives its balance sheet and cements its regional standing.
Why a Congolese bank matters to outsiders
Congo sits at the centre of the global contest for the metals that power electric cars and electronics. The country is the world’s top cobalt producer and a major source of copper.
A strong domestic bank changes who profits from that wealth. Instead of foreign lenders capturing every fee, Rawbank is inserting itself between Western capital, bond markets and Congolese mines.
It is also a quiet form of economic sovereignty. The more a local lender shapes these deals, the less the terms are dictated entirely from abroad.
For investors watching the region, the rise of a homegrown financier is a sign that Congo is slowly climbing toward Africa’s larger economies. It also gives the country a louder voice in deals once shaped entirely overseas.
A test for Congo’s economy
Rawbank’s rise mirrors a broader shift. Congo is slowly climbing the ranks of Africa’s larger economies, helped by global demand for its metals.
A deeper banking sector is part of that story. It lets more of the money moving through Congo’s mines stay and circulate at home.
The danger is that the gains stay concentrated. Spreading them beyond the capital and the mining belt is the longer task.
The risks ahead
The backdrop is far from calm. Conflict with the M23 group still scars the mineral-rich east, and governance worries weigh on the country’s image.
Much rides on a fragile peace process and on commodity prices holding firm. A serious shock to either could quickly cool the bank’s ambitions.
Frequently asked questions
What is Rawbank?
Rawbank is the Democratic Republic of Congo’s largest bank, led by chief executive Mustafa Rawji. Its total assets stand at about $6.82 billion.
How did Rawbank perform in 2025?
Net profit rose 9% to $232 million, while banking revenue climbed by a third to $682 million and lending grew about 10%.
What is Rawbank’s role in Congo’s Eurobond?
Rawbank helped coordinate Congo’s first sovereign Eurobond in April 2026, a $1.25 billion sale that drew orders of about $5.2 billion.
How is Rawbank linked to mining?
The bank is pitching up to $300 million for a planned copper-and-cobalt refinery in the Lualaba region and is arranging financing for mining groups.
Connected Coverage
Rawbank’s rise is part of the wider story we track in Africa: The New Scramble. It built on Congo’s debut Eurobond and runs alongside the race to move copper west, including Zambia’s Lobito railway.
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