DRC: Launch of a support system to boost micro-enterprises' access to credit

Sep 03, 2014

The National Microfinance Fund (FNM) has launched a support system to finance micro-entreprises and small farmers in the Democratic Republic of Congo (DRC).

The National Microfinance Fund (FNM) has launched a support system to finance micro-entreprises and small farmers in the Democratic Republic of Congo (DRC). It is expected to facilitate their access to microfinance.

According to the Ministry of Finance, the biggest obstacle to the establishment of the DRC as an emerging nation is access to finance.

The assisting general coordinator of the FNM, Constant Ngai Munga, said the device will be used to support the integration of vulnerable populations in rural and urban areas within the financial system of the DRC to "develop social and financial inclusion in the DRC in the long term", Le Potentiel reports.

He added it will also "improve the operational and financial quality of local financial institutions and create a link between them and conventional financial markets".

The coordinator of the FNM, Thierry Ngoy Kasumba, added that access to funding for farmers "is one of the levers of the modernisation of agriculture, and therefore an important source of economic growth".

He also believes that Congolese micro-enterprises should forget the "glass ceiling" that led them to believe they will fail to master the transition to a larger company. He called for the establishment of a "micro-business attitude" in DRC.ADNFCR-2976-ID-801746296-ADNFCR