Foreign shareholding in telecommunication companies is limited to 69%.
"Section 27
The four categories of licenses below are subject to the concession regime:
- network license and telecommunication services
- network infrastructure license
- license of services and applications
- license to establish or operate a sound or television broadcasting station
[...]
Section 40
The legal person benefiting from a license must have the form of a Société Anonyme S.A.
Without prejudice to the agreements and conventions to which the Congolese State is a party, at least thirty percent (30%) of the share capital of the telecommunications company referred to in the previous paragraph are distributed as follows:
-25% at least are held by Congolese natural persons or legal persons whose shares are held by Congolese, natural persons [...];
-5% are reserved for Congolese workers of the company [...]" (Law No. 20/017 of November 25, 2020 relating to telecommunications and information and communication technologies [google translation])
------------------------
Previously
------------------------
"Article 1
This law governs the telecommunications sector in the Democratic Republic of Congo.
As such, its purpose is to:
a. Establish the terms of ownership, installation and operation of telecommunications throughout the national territory;
b. Guarantee the harmonious and integrated development of telecommunications networks and services;
c. Facilitate the mobilization of financial resources through the participation of the private sector in the development of telecommunications in a fair competitive environment.
[...]
Article 17
There are three distinct operating regimes applying to equally different services and activities:
- the concession regime
- the authorization regime and
- the declaration regime.
Section 1: The Concession Regime
Section 18
The concession regime is established by the concession of the public telecommunications service.
It concerns exclusively:
- the provision of telephone service between fixed points as well as the provision of telex service;
- the establishment and operation of radio networks, particularly cellular networks, intended to provide the public with a telecommunications service which meets a need of general interest;
- the establishment of a telecommunications network open to the public, using other means of transmission.
[...]
Article 19
An operating license is granted to the person benefiting from a concession.
The operating license and the specifications are prepared by the Regulatory Authority, approved and signed by the Minister and published in the Official Journal.
Without prejudice to the agreements and conventions to which the Congolese State is signatory, the legal entity benefiting from a concession license must have the form of a Limited Liability Joint Stock Company "SARL" and of which at least 30% of the capital is held by Congolese legal or natural persons; 5% of this quota must be reserved for the company's workers.
[...]
Article 27
The declaration regime concerns telecommunications activities other than those subject to the two previous regimes.
These include the following activities:
· the publication of lists of subscribers to networks open to the public; 
· telecommunications activities carried out by foreign and international organizations and institutions;
[...]
Article 43
However, concession licenses or authorizations may be withdrawn without prior notice in the event of substantial changes occurring in the composition of the share capital, if the latter becomes entirely relaxed by persons of foreign nationality.[...]" (Law n°013-2002 of October 16, 2002 on telecommunications in the DRC [google translation])
Law No. 20/017 of November 25, 2020 relating to telecommunications and information and communication technologies [google translation]
Law n°013-2002 of October 16, 2002 on telecommunications in the DRC [google translation])
[<a href="https://legalrdc.com/wp-content/uploads/2021/11/Loi-20017_Telecom-et-Tech.pdf">Law</a>],[<a href="https://www.leganet.cd/Legislation/Droit%20economique/telecommunication/LC.013.2002.16.10.2002.htm">Law</a>],[<a href="https://arptc.gouv.cd/les-lois/">Other</a>],[<a href="https://ambardcstockholm.com/wp-content/uploads/2022/02/dr-congo-investora-s-guide.pdf">Other</a>]