Congo partners with AfDB to boost SME sector

Apr 02, 2014

The African Development Bank (AfDB) is to provide technical assistance as well as financial support to small and medium-sized enterprises (SMEs) in Congo, as part of a programme designed to improve the business climate in the country.

The African Development Bank (AfDB) is to provide technical assistance as well as financial support to small and medium-sized enterprises (SMEs) in Congo, as part of a programme designed to improve the business climate in the country.

Pierre Toko, project officer for Congo at the AfDB, said in a statement that the institution's technical support will be directed in several areas, including the management and support of the SME sector in order to ensure their sustainability and survival.

He met with the Congolese Minister of SMEs and artisans, Yvonne Adelaide Mougany , on 28 March in Brazzaville.
The meeting
allowed them to address several issues, including the financial support that AfDB plans to make available for the Ministry for SMEs in order to strengthen its capacities, as well as the need to organize a general census of SMEs in the country.

"The commitments made by the AfDB include the creation of a House of artisans. Once commissioned, this structure will allow artisans to have all the information they need, whether on business creation or investment sectors," said
Yvonne Adelaide Mougany.

According to the Congolese agency for the promotion of the private sector, the country has more than 4,000 SMEs, with 85 percent belonging to the informal sector. Congo is struggling to improve the business climate on its soil, and occupies the 185th
place out of 189 in the last Doing Business ranking of the World Bank. One of the causes of this poor performance is the lack of support for the private sector and SMEs, often struggling to obtain bank financing.ADNFCR-2976-ID-801709024-ADNFCR