M23 Moves to Start Banking System

The March 23 Movement (M23) is in a move to establish its banking system in areas under its control.   Democratic Republic of Congo authorities ordered for suspension of banking services in the cities of Goma and Bukavu after the M23 rebels’ occupation. 

Civil servants in affected areas receive their salaries through mobile money.  But on Wednesday, M23 released a statement announcing that they are taking progressive steps towards the establishment of their banking system. 

In a statement signed by Bertrand Bisimwa, M23 President, the M23 hierarchy says they have appointed Javane Dusabe Sangano, Director General Savings Bank of Congo (CADECO), Yves Sumbu Kasongo as Deputy Director General in charge of Economic and Financial Affairs while Katembo Kanyihata has been appointed Deputy Director General Administrative and Legal Affairs. 

Delion Kimbulungu, Rigobert Amani Kabasha and Samuel Nsabimana have been appointed as members of the board of directors of CADECO. The DR Congo government has not yet reacted to the M23’s progress to establish a banking system in areas under its control. Such progress indicates that rebels are not yet ready to withdraw from areas under their control.  

On Wednesday, fierce fighting between M23 rebels and government army and the coalition happened in the village of Kampala-Bulambo, Bakusu in the Wanyanga sector, close to the town of Walikale in North Kivu province. 

Local sources report that FARDC soldiers, Mai-Mai fighters, allied with Wazalendo, attacked a rebel position in the village of Kampala-Bulambo at around 5 am.   

These clashes illustrate the failure of the ceasefire, despite diplomatic statements made at the meeting on March 18, 2025, between DR Congo President Felix Tshisekedi and that of Rwanda, Paul Kagame, after the meeting in Qatar’s capital, Doha. 

The M23, according to Congolese intelligence, is consolidating its control over the strategic road of Goma-Bukavu. and other areas.   

Last week, the AFC/M23 rebels announced their withdrawal from Walikale town, but later turned down the announcement, accusing FARDC and the coalition of instead deploying heavily in the same area.   

Rebels now control major areas of North and South Kivu provinces since the resumption of insurgency in 2022.