FPM - Fonds pour l'inclusion financière en DRC
BIO has granted USD 286,126 of technical assistance to FPM SA, a refinancing vehicle targeting microfinance institutions and MSME banks in the Democratic Republic of Congo.
Amount
€ 234,623.00
Type of investment
Subsidy
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Financial inclusion
Beneficiary locations
Investment field
Investment Companies & Funds
Activity
FPM is a fund whose mission is to promote financial inclusion in DR Congo by supporting financial institutions that target MSMEs and low-income working populations. It is composed of two entities: FPM ASBL, which provides technical assistance to financial institutions financing MSMEs, and FPM SA, which is dedicated to refinancing (through debt).
FPM SA's mission is to reach out to and refinance financial institutions in the DRC with a focus on small local financial institutions which, due to their size and status and given the weakness of their internal reporting systems (information and management systems), have difficulties in producing reliable and regular reports and obtaining financing. Furthermore, given the many challenges in the DRC financial market, the implementation of an environmental and social management system is not a priority for financial institutions. FPM SA wants to use technical assistance to strongly encourage its clients to adopt better international standards and practices of responsible finance.
Technical assistance
Support for the integration of a Responsible Finance policy (E&S Management) within the partner financial institutions (PFIs) and potential FPM SA partners as well as training and support for the implementation of a satisfactory reporting system for the new partners.
Impact
The project has two main objectives:
- Responsible Finance; Integration of environmental and social standards (ESN) and development and operationalisation of an Environmental and Social Management System (ESMS) in the institutions.
- Reporting; improving financial reporting within the institutions (IMF and coopec), which will help their financing by FPM SA or other (inter)national investors.
- The third minor aspect of this technical assistance concerns the improvement of FPM's database and sector analysis of the financial sector in the DRC. This will improve the sector analysis of financial institutions, which is used by both FPM and other donors (reports will be available on the FPM website).
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
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.
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.
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.
Akiba Yetu
Democratic Republic of Congo
MFI
Bagira
Democratic Republic of Congo
MFI
Baobab
Democratic Republic of Congo
Baobab provides mciro-loans, savings solutions, and daily banking services.
Bonne Moisson
Democratic Republic of Congo
MFI
Bonne Semence
Democratic Republic of Congo
MFI
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.
Camec Mbanza Ngungu
Democratic Republic of Congo
MFI
CECAFPEP
Democratic Republic of Congo
MFI
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.
Finca DRC
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.
Guilgal
Democratic Republic of Congo
MFI
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.
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.
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.
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.
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.
TID SA
Democratic Republic of Congo
MFI
Tujenge Pamoja
Democratic Republic of Congo
MFI
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.
View more of our investments in this region
Investment Companies & Funds
African Rivers Fund IV
10,000,000.00
Angola, Democratic Republic of Congo, Uganda, Zambia
05/12/2024
Equity
