The city of Goma in the Democratic Republic of Congo is grappling with an unprecedented financial crisis after the M23 rebels took over two months ago.
Banks have been closed due to security concerns, leaving residents unable to access their money, leaving many families in financial distress.
“I have a bank card but I can’t use my money to support my family because the banks are closed,” complained Furaha Pendeza, a mother of six.
The once vibrant city known for its vibrant trade is facing an economic recession that has paralyzed businesses and left many without income due to lack of cash flow.
“We are suffering because there are no job opportunities and even those who have jobs cannot receive their salaries,” said Amani Chirimwami, a local resident, expressing her frustration.
Business owners are also struggling to stay in business. “Our businesses are dependent on bank financing, but due to the closures, we are unable to access the capital needed to continue operating,” said businesswoman Aline Safari.
Seeking relief, many are crossing the border to Gisenyi, Rwanda, to withdraw money from their accounts. Meanwhile, local banks are waiting for permission from authorities in Kinshasa to resume operations, leaving the population in financial distress.