Summary
A year after the M23 rebels took over Goma in the Democratic Republic of the Congo, banks in the city remain closed, forcing residents to travel to nearby Rwanda for banking services. The situation has made everyday life more difficult, with high banking fees and increased costs for basic goods in Goma.
Key Facts
- M23 rebels seized control of Goma on January 27, 2025.
- As a result, all banks in Goma closed, and ATMs stopped working.
- Residents, like Sheilla Zawadi, cross into Rwanda to use banks and ATMs.
- Using Rwandan ATMs incurs high fees, and money exchanges involve additional costs.
- Goma’s local economy is mostly cash-based due to the bank closures.
- Prices for goods in Goma have increased, making it harder for people to afford necessities.
- The government and M23 officials blame each other for the continued closure of the banks.
