Background
Jules-Fontaine Sambwa was born on November 12, 1940, at Mbandaka.
Jules-Fontaine Sambwa was born on November 12, 1940, at Mbandaka.
At Mbandaka he received his primary and secondary education. He went to the Universite Libre in Brussels and took a degree in economics and finance.
He started work as an economic councillor in the Presidency in October 1967 and in 1968, was made administrator of the Economat du Peuple, a state-owned store designed to cut out the foreign trades and middlemen. He then returned to the Presidency as an Assistant Director from May 1969 to September 1970.
In February 1970 he also became a councillor at the National Bank and administrator of SOCOFIDE, the state investment company. Finally, on the dismissal of Albert N’Dele from the Central Bank, for criticising government financial policy and for being too friendly with Belgium, he was appointed Governor.
A close relative of President Mobutu, coming from Mbandaka the capital of Equatoria Region and the same Bengala tribe, he is economic councillor at the Presidency where he has been since his predecessor Albert N’Dele fell from power. Only 30 when he took over the running of the Central Bank, he still has a lot to learn; but he is bright, well educated and has not been afraid to write critical bank reports castigating the government for over-expenditure and not living within its budget.