DRC Joins African Peers in Using Bloomberg Tool to Digitise FX Market
The Central Bank of Congo (BCC) has adopted Bloomberg’s BMatch solution to improve transparency, pricing clarity and efficiency in interbank foreign exchange trading in the Democratic Republic of Congo.
BMatch is part of Bloomberg’s FXGO electronic trading platform and allows market participants to negotiate FX trades electronically, securely and in real time.
The DRC joins other African countries — including Angola, Nigeria and Kenya — that have integrated BMatch into their FX market frameworks as part of broader efforts to strengthen market functioning and support economic growth, according to a statement on Thursday by Bloomberg.
The BCC said the move will provide greater visibility into market activity, improve transparency in the price formation process and support a stronger framework for financial stability.
“The adoption of Bloomberg’s BMatch represents a significant milestone in our efforts to bring greater transparency and structure to the DRC’s foreign exchange market,” said André Wameso, Governor of the Central Bank of Congo. He added that establishing a robust and reliable reference for the Congolese franc would help foster a “more stable and credible environment” for market participants.
The central bank said the initiative is gaining traction within the local banking sector, with the BCC’s involvement helping bring 10 additional local banks onto Bloomberg’s FXGO platform—an expansion aimed at strengthening the country’s digital trading infrastructure.
Bloomberg said the deployment reflects the BCC’s modernization drive. “The speed of this deployment underscores the BCC’s commitment to modernizing its financial infrastructure,” said Kat Furber, Bloomberg’s Global Head of FX Trading, adding that BMatch is increasingly being adopted by African central banks seeking to enhance liquidity and market integrity.
