FPM SA represented by its Managing Director, Mr. Patrick NKONGO signed, this Monday 08 April 2024, at EquityBCDC’s headquarters in Kinshasa, a financing contract with EquityBCDC Bank, represented by its Managing Director, Mr. Celestin MUKEBA. With an estimated value of USD 5,000,000, the 5-year senior loan to EquityBCDC is designed to help the bank pursue its growth and consolidate its existing activities, namely the provision of credit to Micro, Small and Medium-sized Enterprises (“MSMEs”). Eager to develop synergies and innovative programs to promote the middle class and contribute to poverty reduction, FPM SA, through this partnership with EquityBCDC, aims to support the local financial sector by facilitating conditions of access to financing in order to support the process of financial inclusion in the DRC. EquityBCDC became a subsidiary of Equity Group Holdings Plc, following the acquisition of the majority of BCDC shares by EGH in July 2020. Established in the DRC since 1909, EquityBCDC facilitates access to banking services for all and finances Micro, Small, Medium and Large Enterprises, notably through inclusive financial products and services that socially and economically strengthen consumers, businesses and communities. As a reminder, FPM SA is a financial company licensed by the Central Bank of Congo in February 2015. FPM SA has a share capital of 23,432,100 USD, a volume of funds under loan management of 120,000,000 USD. FPM SA’s shareholders include KfW (German Development Bank), BIO (Belgian Investment Company for Developing Countries), Cordaid (Dutch International Development Organization) and Incofin cvso (Cooperative Society with Limited Liability for Social...
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Congo SA’s offices in Gombe, 407 Avenue du Roi Baudoin, FPM SA and Advans Congo SA signed loan agreements for senior and subordinated debt financing. The senior debt of USD 2,800,000 is intended to finance the growth of the credit portfolio for micro, small and medium-sized enterprises over the medium and long term. The subordinated debt of $700,000, with an 80% risk-sharing mechanism, will strengthen Advans Congo’s solvency and help accelerate its growth by financing entrepreneurs, while complying with regulatory monitoring indicators. As a reminder, FPM SA is a financial company licensed by the Central Bank of Congo in February 2015. FPM SA has a share capital of USD 23,432,100, a volume of funds under loan management of USD 120,000,000. FPM SA’s shareholders include KfW (German Development Bank), BIO (Belgian Investment Company for Developing Countries), Cordaid (Dutch International Development Organization) and Incofin cvso (Cooperative Society with Limited Liability for Social...
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On December 29, 2023, FPM SA, through the DRC Ministry of Finance, here represented by the CFEF, received the first instalment of the €20 million refinancing line disbursed by the German Cooperation, via KFW, in favor of Congolese MSMEs. The aim of this grant is to support MSMEs affected by the Covid-19 pandemic and/or MSMEs vulnerable to the impact of future macroeconomic disruption, in order to support their economic development and enable them to maintain or increase the employment they generate. This objective will be coupled with the promotion of thematic financing for gender, energy, youth and agriculture. The financing is divided into three components: A €15 million refinancing line for target partner financial institutions (PFIs): banks with a focus on MSMEs, microfinance institutions and savings and credit cooperatives. This financing meets the liquidity needs of IFPs operating in the Congolese financial intermediation market, and is designed to support their ability to increase their loan portfolios for the benefit of MSMEs. A €4 million portfolio guarantee. The guarantee is an instrument for sharing the counterparty risk incurred on some of the MSMEs benefiting from the financing; €1 million in project management costs of. Within the framework of German-Congolese cooperation, KFW, the German Development Bank, operates in the Democratic Republic of Congo on behalf of the Federal Republic of Germany.These interventions are in the following sectors: biodiversity, water, energy, peace, social cohesion, building resilience and sustainable economic development. Within the framework of bilateral cooperation via financial cooperation and under the responsibility of KfW, the government of the Republic of Germany subsidizes projects aimed at improving the living conditions of the Congolese population. KfW is represented in Kinshasa by an office with more than 10 staff. About FPM SA FPM SA is a financial institution approved by the Central Bank as a financial company since 2015 with nearly USD 120 million in funds under management. Created by institutional shareholders KFW, CORDAID, BIO and INCOFIN CVSO, FPM SA’s mission is to promote the development of MSMEs and the financial empowerment of low-income people through financial inclusion in the Democratic Republic of...
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The signing of an agreement materializes the partnership between FPM SA, represented by its Deputy Managing Director, Mr. Patrick NKONGO MAMBU, and CAMEC INKISI, represented by its Chairman of the Board of Directors, Mr. Roland MAZIMI PIATU. The ceremony took place on Tuesday, September 19, 2023, at the CAMEC INKISI COOPEC headquarters in KINSATU, in the presence of executives from both institutions. Eager to develop innovative programs to promote the middle class and contribute to the emergence of a sustainable supply of quality financial services for micro, small and medium-sized enterprises (MSMEs) and low-income individuals in the DRC, FPM SA has signed a financing contract with the CAMEC INKISI COOPEC to pursue this joint approach aimed at providing a better supply of financial services for the above-mentioned sector, which remains one of the strategic vectors for the country’s development. With a view to pooling efforts and increasing the relevance of their actions, CAMEC INKISI benefits from senior loan financing from FPM SA to provide medium-term financing to micro, small and medium-sized enterprises (MSMEs). As a reminder, the Multi-Donor Fund, FPM SA, is an initiative of KfW (German Development Bank), BIO (Belgian Investment Company for Developing Countries), Cordaid and Incofin CVSO, whose mission is to support the construction and development of an inclusive, sound and responsible financial system in the DRC by promoting access to refinancing for financial institutions targeting MSMEs and low-income individuals. To date, FPM SA supports financial institutions in the microfinance and banking sectors in the Democratic Republic of Congo. CAMEC in Kisantu is a savings and credit cooperative established in Central Kongo in 2005. This cooperative is the result of CIRAD, a French NGDO that wanted to grant equipment (manual and electric sugar cane mills, electric cassava mills, a feed milling unit, etc.) on credit to well-targeted structures and the CAMEC network. As its first target, CAMEC INKISI began its activities by offering its services first to all categories of the population in the Madimba territory and then to Kasangulu. Today, it is a leading COOPEC in Central...
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