Katumbi, who is in Zambia, featured on CNN’s Christiane Amanpour show from Diamond TV studios in Lusaka on Tuesday.
The former Katanga province governor said countries in the DRC’s region were key to helping restore stability.
Katumbi says the DRC must be compelled to hold a free, fair and inclusive elections.
The delayed election is due in December but incumbent Joseph Kabila who is constitutionally barred from seeking re-election does not give indication the poll will be held.
Katumbi said Zambia, Rwanda, Angola and Botswana were some good examples of democracy in the region urging that peaceful transitions that have happened should be replicated in the DRC.
“If there is no election, Congo is going to continue in its instability and there can be a civil war,” Katumbi says.
“Today 5 million people have been displaced internally; they are killing a lot of people. Millions of people are dying all over the coutry.
“That’s why we need to have these elections so that there can be peace in Congo,” he said.
Katumbi has also hailed Zambia’s democracy and development under President Lungu and has wished for peace to be restored in his home country.
Katumbi also expressed sadness at the expose by CNN which revealed that the Congo was using child labour in mining cobalt.