FPM - Fonds pour l'inclusion financière en DRC

Equity : June 2014

FPM SA is a refinancing vehicle targeting microfinance institutions and MSME banks in the Democratic Republic of Congo.

Amount

€ 5,800,888.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Financial inclusion

Beneficiary locations

Sub-Saharan Africa: Democratic Republic of Congo

Investment field

Investment Companies & Funds

Activity

MFI Fund

Organisation

FPM - Fonds pour l'inclusion financière en DRC

Domicile

DRC

FPM SA will be a spin-off of FPM asbl, a non-profit association providing capacity building to the financial sector in DRC, that was created end of 2011 by KfW, the United Nations and the World Bank in the frame of DRC’s “Programme d’Appui au Secteur de la MicroFinance” (PASMIF).

FPM SA will gradually constitute a portfolio of loans to sustainable Partner Financial Institutions across the financial sector and rely on FPM asbl for the capacity building. In this context, targeted weaker microfinance institutions will first be reinforced through capacity building from FPM asbl, while larger banks will be incentivized to downscale to SMEs.

As such, FPM SA will be a unique vehicle to help provide longer term financing to the missing middle (mesofinance).

Development impacts

  • Local economic growth

    Provision of mid to long term financing to financial institutions targeting MSMEs in DRC.

  • Private sector consolidation/innovation

    FPM SA, with the support of the technical assistance provided and the market studies realized by FPM asbl, will aim at backing the expansion of the financial sector in the more remote provinces that are not served yet by the current players in the country.

  • Financial inclusion

    By granting loans to the local and international microfinance institutions, FPM will help the poorest populations to obtain access to basic financial services, also in rural areas.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

i-Finance

Democratic Republic of Congo

i-Finance is a start-up financial institution in the Democratic Republic of Congo (DR Congo) with local and international investors. i-Finance's goal is to become an industry leader in the provision of sustainable financial services to low-income and rural clients as well as small and medium enterprises.

CAHI

Democratic Republic of Congo

CAHI is a savings and credit cooperative based in Bukavu in South Kivu. CAHI focuses on supporting micro, small and medium-sized enterprises and people with a low income in South Kivu.

PAIDEK

Democratic Republic of Congo

PAIDEK (Promotion et Appui aux Initiatives de Développement Economique du Kivu) is an institution specialized in microfinance, created in 1993 on the basis of a programme to organise microfinance initiatives. Concentrated geographically in northern and southern Kivu, PAIDEK currently has 9 agencies operating in both urban and rural areas. Its headquarters are in Bukavu.

Hekima

Democratic Republic of Congo

Hekima is a microfinance institute providing small group loans mainly to women engaged in small-scale trading in Democratic Republic of Congo. Its product range includes village banking, group loans and agricultural loans.

SMICO

Democratic Republic of Congo

SMICO is a microfinance institution headquartered in Goma. It was created in December 2009 by a group of former Belgian and Congolese bankers who have a strong attachment to the region and the development of local communities in Kivu and the eastern DRC. This vision of shareholders is illustrated by the development of SMICO which is counted among financially solid MFIs.

Baobab

Democratic Republic of Congo

Baobab is a leading digital financial inclusion group focusing on serving individuals, micro and small businesses in Africa. Their mission is to unleash the potential of our clients by offering them simple and easy to use financial services.

VisionFund

Democratic Republic of Congo

In rural areas of the Democratic Republic of Congo, where access to credit is difficult, the loans of VisionFund make a significant improvement to the lives of many. VisionFund DRC operates through three branches and one community branch, all located in Kinshasa districts, serving over 2,861 families.

Finca

Democratic Republic of Congo

FINCA DR Congo is a microfinance institution providing loans and other financial services to small entrepreneurs and businesses. FINCA’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living.

Afriland First Bank CD

Democratic Republic of Congo

Afriland First Bank CD is a pan-African bank established in DRC since 2006. It offers adequate financing solutions and high-quality bank services, integrating local players in the sustainable development and wealth creation process and facilitating acces to financial services for entrepreneurs and other investors.

Advans Banque

Democratic Republic of Congo

Advans Banque Congo S.A. is an independent commercial bank based in the Democratic Republic of Congo, with its headquarters located in Kinshasa. The bank has a particular focus on the provision of financial services to micro, small and medium Congolese enterprises as its niche market.

Rawbank

Democratic Republic of Congo

Rawbank is a commercial bank of the Democratic Republic of the Congo. The bank was created in 2001 and is based in Kinshasa. Rawbank offers retail banking and commercial banking services. Rawbank was the first financial house in DR Congo to offer mortgages to the public in 2015.

Access Bank

Democratic Republic of Congo

Over the past 26 years, Access Bank Plc. has evolved from an obscure Nigerian Bank into a world-class African financial institution; a feat which has been achieved through a robust long-term approach to client solutions – providing committed and innovative advice. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant.

Equity Bank Congo

Democratic Republic of Congo

Equity Bank Congo (EBC), formerly ProCredit Bank DRCongo, is a commercial bank in the Democratic Republic of the Congo. Its objective is to facilitate access to banking services for all and to finance small, medium and large Congolese companies.

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