The FPM ASBL, represented by its General Manager, Mr. Jean-Claude THETIKA has officially launched, March 24, 2023 in Kinshasa the Financial and Digital Education Program (PEFD) in partnership with VISA, represented by Mrs. Sophie Kafuti, Country Director for the DR Congo. This program is a continuation of the National Financial Education Program (PNEF) set up in 2016 by the Central Bank of Congo (BCC) with the technical and financial support of GIZ, and for which the FPM ASBL has been an important partner in the implementation of activities. This financial and digital education program, will be implemented over a period of 3 years and has the following objectives: – Provide the Congolese population with the necessary knowledge, skills and confidence in order to optimally manage its finances. – To optimize the use of existing payment methods on the market. – To support the increase of financial inclusion in the DRC. The awareness and implementation of the financial education program will be done in 10 provinces of the DRC through 3 axes: – The implementation of a multimedia campaign – The organization of Training of Trainers and multipliers – The organization of financial education forums. VISA is an international payment technology company that enables consumers, businesses, banks and governments to use digital payments. As a trusted network, VISA facilitates digital payments in more than 200 countries and territories among a global array of consumers, merchants, financial institutions, businesses, strategic partners and government entities through innovative technologies. Sharing the same vision in terms of financial inclusion, the two entities have signed this partnership for the continuity of financial education on a large scale in DR...
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The FPM participated for the 5th year in a row on March 25th to the Global Money Week (GMW). For the occasion a forum and a press conference were held, in Inkisi, in the Province of Central Kongo. The topic of the 11th Edition of the GMW was “Plan your money, plant your future”. This year’s focus was on sustainability and raising awareness of young people on their involvement in financial behavior, not only for their own future, but also for the future of the environment and society. The activity, organized in partnership with VISA, brought together more than 100 school children from Inkisi with whom two expert trainers addressed the following sub-themes in depth: “Planning your future to save better” “The importance of digital financial services for young people” The main objective of the FPM was to enable schoolchildren, future clients of financial institutions, not only to learn how to manage their money, but also to transmit this knowledge to their families and communities. The Global Money Week (GMW) is a world planned event. Initiated since 2012 by the Child and Youth Finance International (CYFI) network, this awareness campaign aims to encourage children and youth to be more financially savvy, to acquire the necessary knowledge, skills and behaviors to make sound financial decisions. In the Democratic Republic of Congo (DRC), this activity has been celebrated since 2015 and is implemented by some local actors (The Central Bank of Congo, the FPM, Financial Sector Professional Associations, some financial institutions, NGOs, etc.). Children and youth make up the largest portion of the population in the DRC, which justifies that special attention be given to them through financial education activities, enabling them to become economically equipped and empowered citizens and ultimately reduce...
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International Savings Day (ISD) is a global day dedicated to the benefits of saving. Officially recognized since 1925, the idea for this day dates back to October 1924, when representatives of savings banks from 29 countries met to draw people’s attention to the importance and necessity of saving. Savings in the Congolese context should be seen not only as the excess of disposable income over consumption, but as the fruit of deprivation and sacrifice in order to meet future expenses or to carry out a project. It is therefore important that this fruit of sacrifice and deprivation (savings) be well directed towards the financial sector in order to support its growth by financing productive investments; to increase the global offer of products and to allow the distribution of the related purchasing power. The FPM vision is to contribute to the reduction of poverty and the improvement of the living conditions of the population in the Democratic Republic of Congo (DRC) by supporting the development of the financial sector. As such, it strives to reduce barriers for those who wish to access financial services. VISA is an international payments technology company that enables consumers, businesses, banks and governments to use digital payments. As a trusted network, VISA facilitates digital payments in more than 200 countries and territories among a global array of consumers, merchants, financial institutions, businesses, strategic partners and government entities through innovative technologies. Social impact is part of VISA’s commitment to foster inclusive, equitable and sustainable growth everywhere and for everyone.VISA wants to reach the traditionally underserved and give them access to resources that can help them improve their livelihoods, businesses and communities. With this in mind, FPM ASBL in partnership with VISA is organizing International Savings Day activities in the city of Kindu from November 16 to 19, 2022. These activities are mainly focused on financial education for women and youth. Specifically, it is about organizing a training session on financial education during 3 days with women entrepreneurs and a one-day forum with young people (students; pupils in 6th grade of humanities). The forum on Saturday, November 19, 2022, aims to sensitize the youth of Kindu on the importance and necessity of saving, and to present them...
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The FPM ASBL, represented by its Director General, Mr Jean-Claude THETIKA, signed a technical assistance contract with the AKIBA YETU Savings and Credit Cooperative, represented by the Chairman of its Board of Directors and its Manager, Mr Claude KASIGWA and Mr Henry MUZALIWA respectively, on Wednesday 27 April 2022 in Kinshasa. By signing this technical assistance partnership, the FPM ASBL (FPM’s technical assistance vehicle) and the AKIBA YETU COOPEC have decided to continue their joint contribution to the provision of better financial services for micro and small enterprises and low-income people in the city of Goma in North Kivu. The partnership is expected to achieve three main objectives : (i) The development of the scope of activities (in number and volume); (ii) Improving operational efficiency by strengthening the capacity of the teams; (iii) Improving the institution’s reputation and positioning in the market. Created in 2008, the AKIBA YETU COOPEC is operational in Goma and aims to improve the social well-being of low-income populations. Its mission is to offer secure savings services to its members and to grant loans at competitive rates, in order to fight poverty and promote the socio-economic development of the population of North...
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La covid-19 a durement frappé l’économie de la RDC, et les ménages à faible revenu et exclus financièrement ont le plus souffert. À la suite de la première vague de la pandémie, les deux tiers des ménages ont déclaré que leur revenu mensuel avait diminué. Et les perturbations économiques se sont poursuivies jusqu’à la fin de 2020 : en décembre, 55% des ménages ont déclaré devoir réduire leur consommation de nourriture et d’eau pour faire face aux difficultés économiques. Presque tous (96%) les ménages à faible revenu et exclus financièrement ont estimé que la covid-19 aurait un impact négatif à long terme sur leur situation financière. Les nouveaux couvre-feux et restrictions de mouvement, introduits en janvier 2021, ne feront qu’ajouter une pression supplémentaire sur une population qui ne se remet pas encore des chocs économiques de l’année dernière. Ces nouvelles mesures perturbent également les opérations commerciales. En janvier 2021, près de trois quarts des entreprises rencontraient des problèmes dans leurs chaînes d’approvisionnement, contre 65% en décembre 2020. Ce rapport explore comment les prestataires de services financiers (PSF) ont dû s’adapter pour répondre aux besoins de la population dans des circonstances difficiles. L’enquête menée par l’Economist Intelligence Unit auprès de dirigeants de PSF à travers la RDC montre que neuf institutions sur dix ont développé de nouveaux produits et services pour aider leurs clients à faire face à l’impact de la pandémie. Cela comprend l’investissement dans la numérisation, l’offre de nouvelles options de remboursement et l’extension de différentes lignes de crédit. En 2021, les perspectives des PSF et des entreprises et communautés qu’ils soutiennent restent difficiles. Les restrictions et perturbations économiques se poursuivront et la confiance des entreprises reste faible (seuls 17% des chefs d’entreprise ont déclaré que leurs perspectives pour l’année étaient bonnes ou très bonnes). Les PSF doivent donc transformer les mesures de crise introduites en 2020 en systèmes de soutien durables et complets pour accompagner leurs clients dans une autre année difficile. Que peuvent-ils faire ? Les petits PSF doivent être conscients de l’équilibre entre soutenir les clients aujourd’hui, rester une entreprise viable et investir dans des changements susceptibles de rapporter des dividendes à l’avenir. Les grandes banques et acteurs établis, qui sont plus...
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The FPM ASBL and ÉLAN RDC grant technical and financial support to the microfinance institution FINCA RD Congo SA to face the consequences of the Covid crisis-19 FPM ASBL is a fund whose vision is to reduce poverty and improve the living conditions of the people in DR Congo. It aims to support the construction and development of an inclusive and responsible financial system by offering technical assistance services tailored to financial institutions serving micro, small and medium enterprises (MSMEs) and low-income working populations with real development potential. To achieve this, the FPM relies on financial institutions, to which it provides technical assistance services through the FPM ASBL, its technical support vehicle, and financing through the FPM SA. The technical assistance services include the following axes: Direct technical assistance (for the benefit of partner financial institutions) ; Forums and training for professionals of the Congolese financial sector; Market studies aimed at improving financial inclusion. ÉLAN RDC is a private sector development program of the British Cooperation (UKAID), which is implemented by Adam Smith International. ÉLAN RDC aims to promote sustainable and inclusive economic development through entrepreneurs and enterprises in the DRC, and addresses the root causes of market failure and barriers to inclusive growth. To do so, the program supports the private sector and market actors to design and disseminate new economic models that can increase the incomes of small producers, entrepreneurs, and the poorest consumers. The program primarily targets the sectors of agriculture, renewable energy, and access to finance. The two institutions (FPM ASBL and ÉLAN RDC) in partnership provide financial and technical support to the MFI FINCA RD Congo SA to help it maintain and increase its presence among its clientele hard hit by the effects of the Covid-19 crisis. This support to the MFI FINCA RD Congo SA is twofold, namely (1) A crisis technical assistance through the FPM ASBL whose intervention concerns the optimization of the credit activity, the support to the digital strategy and urgent actions in the framework of responsible finance. Support from the FPM ASBL will help mitigate the effects on the loan portfolio, increase the rate of use of FINCA RD Congo SA’s digital financial services in...
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