L’Afrique centrale peut-elle sortir du capitalisme invisible ? – par Aurélie M’Bida - Jeune Afrique

Central Africa's economy operates largely in the shadows. An estimated 60-80% of economic activity across the region—from retail trade and manufacturing to services and agriculture—functions outside formal regulatory frameworks, a phenomenon economists term "invisible capitalism." For European investors seeking exposure to emerging African markets, this structural reality presents both significant risks and unexploited opportunities. The informal economy in Central Africa encompasses everything from street vendors and artisanal mining operations to unregistered small and medium enterprises that generate substantial wealth but remain invisible to tax authorities and statistical agencies. In countries like the Democratic Republic of Congo, Chad, and the Central African Republic, informal sector workers outnumber formal employees by ratios exceeding 10:1. This economic dualism creates a paradox: robust economic activity coexists with minimal documented GDP growth and limited government revenue. **The Origins and Persistence of Invisibility** Central Africa's informal dominance stems from multiple structural factors. Colonial-era institutions designed for resource extraction rather than broad-based development left weak administrative capacity and limited business infrastructure. Subsequent political instability, currency volatility, and predatory taxation have incentivized firms to operate outside formal channels. Unlike East African nations that have invested heavily in digital payment systems and business registration infrastructure, Central Africa's formal institutions