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DRC: FEC announces the creation soon of a bank with Congolese capital to promote SMEs

Faced with the difficulties encountered by Small and Medium Enterprises (SMEs) in the Democratic Republic of Congo (DRC) in accessing bank loans, the Federation of Congolese Enterprises (FEC) announces the establishment, as soon as possible, of a bank with Congolese capital to promote entrepreneurship in the country.

This announcement was made by the Managing Director of this employers’ organization of the Democratic Republic of Congo, Kimona Bononge, on the occasion of the opening of the second edition of the Challenge Entreprise organized by the Congolese Government in collaboration with the Federation of Companies of Congo (FEC).

The Fédération des Entreprises du Congo is evaluating funding to set up a Congolese bank because since the time of the Bank of Kinshasa, there have never been Congolese banks. We are in the process of fighting, to see with the authorities of the country in particular the Ministry of Employment and that of Public Finances for the materialization of this vision by the end of this year, that a Congolese national bank, belonging to the Congolese can be born. This will make it possible to finance SMEs initially but also to create national wealth.. “, said Kimona Bononge, Managing Director of the FEC during these meetings which brought together, from April 1 to 2, 2022, several personalities from the entrepreneurial and political world of the DRC at the Congo River Hotel in Kinshasa.

According to Kimona Bononge, the vision of the Federation of Congolese Enterprises (FEC) is to achieve the emergence of a class of Congolese economic operators, who to date are counting at their fingertips.

It is this desire of the FEC which justifies the holding of various round tables organized by this employers’ organization since 2014 and which aimed to put in place strategies for the support and promotion of small and medium-sized enterprises, a key element of emergence of the economy of the Democratic Republic of Congo.

Thus, he thinks that for the promotion of Congolese entrepreneurship and to succeed in developing local champions, it is absolutely necessary to adopt a policy adapted to the protection of Congolese SMEs vis-à-vis foreign competition. for which they are not yet prepared.

It is equally essential, he said, to develop SMEs by setting up a financial service adapted to their needs and thus facilitating their survival in a very complicated business environment.

To meet all these challenges listed above, the Managing Director of the FEC believes that there is an extreme need to undertake appropriate reforms to improve the economic environment of the Democratic Republic of Congo and thus create wealth in through a sustainable economy supported by dynamic SMEs.

In particular, a physical environment is needed, which refers in particular to the electricity sector, to communication infrastructures, because, he says, “without electricity, it is impossible to undertake”.

It also requires a legal and regulatory environment. The Congolese State must not only collect taxes but it must also support companies.

You need access to finance. In the DRC, companies and SMEs do not receive financing from banks.

Thus the Managing Director of the FEC invited the Congolese Government, within the framework of the promotion of Congolese entrepreneurship, to integrate among the missions of the national education system the notions of entrepreneurship to boost the spirit of younger to entrepreneurship.

During this day, it was also demonstrated that the Democratic Republic of Congo loses around 400 million hours every day of zero production due to record unemployment in the country.

To deal with this situation, it was indicated that the country needs nearly four (4) million SMEs to definitively solve the problem of employment in the Democratic Republic of Congo.

Mitterrand MASAMUNA

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