DRC's central bank reveals goals for 2014
The Central Bank of Congo (BCC) has unveiled its policy for 2014, which will focus on supporting economic activity.The Central Bank of Congo (BCC) has unveiled its policy for 2014, which will focus on supporting
BCC's governor Deogratias Mutombo Mwana Nyembo explained on January 10th in Kinshasa that several actions will be initiated in 2014, including strengthening the operational framework of monetary policy and launching a three-month bond.
The institution will also accelerate the creation of a deposit guarantee fund and modernise the country's credit scoring system in a bid to improve access to credit, according to newspaper
In addition, the BCC will focus on stabilising the financial sector by setting up a framework for assessing the stability of the financial system, while developing the money market and electronic banking. It will also contribute to improving the financing of the economy through the establishment of a one-stop counter for medium and long-term refinancing.
According to African Economic Outlook, the financial system of the DRC has undergone significant changes since 2012. The National Microfinance Fund began its operations with a capital of $2.5 million (€1.85 million) that the government placed at its disposal. The expansion of ATMs has increased the use of electronic payments, while the introduction of Mobile Banking has transformed habits.