On Friday, July 28, 2017, FPM SA signed a financing contract with the Coopérative d’épargne et de crédit (Savings and Credit Cooperative) “CAHI”. The signing ceremony for this contract took place at CAHI’s headquarters in Bukavu, South Kivu province.
From left to right, Carlos Kalambay (CEO of FPM), Alias TEGERE (CBD of CAHI) and Patient CHOYA (Manager of CAHI)
This contract was signed by Carlos KALAMBAY, CEO of FPM SA and Patient CHOYA, Manager of COOPEC CAHI, in the presence of the Chairman of the Board of Directors as well as the executives and clients of the said institution.
The loan granted to COOPEC CAHI by FPM SA will enable the institution to support micro, small and medium-sized enterprises (MSMEs) and low-income populations in South Kivu with a view to helping them sustain their income-generating activities, which drive the growth and development of the economy of the Democratic Republic of the Congo.
“It is our mission to support the financial sector and strengthen financial institutions under all circumstances. While the context is not conducive, we know that we have partners who need us. We cannot fail to act, especially when we feel that we are most needed,” said Carlos Kalambay after the signing ceremony of this funding contract. Through this financial support, FPM SA thus intends to contribute, through CAHI, to the promotion of financial inclusion in the Democratic Republic of Congo.
“This financial support from FPM SA will enable us to consolidate our growth. Afterwards, we could consider expanding to cities and towns without financial institution agencies,” said Patient Choya, CAHI manager.
“We will continue to maintain our partnership with FPM SA. When such serious partners trust us, it means that our customers and the people of South Kivu must continue to trust us,” added CAHI’s Manager. This is the second loan that FPM SA has granted to COOPEC CAHI in less than three years to enable it to strengthen its credit portfolio in order to operate effectively in the microfinance market. However, FPM SA does not intend to stop there. “FPM remains ready to support CAHI whenever the need arises,” reassured Carlos Kalambay, CEO of FPM SA.
About CAHI
COOPEC CAHI is a primary savings and credit cooperative created on April 4, 1976 on the initiative of the members of the Catholic parish of CAHI and approved by the Central Bank of Congo under the number ref Gov/D143/N°001137 Kinshasa, on September 4, 2007. It was affiliated to the Central Cooperative of Kivu (COOCEC Kivu), an umbrella structure that includes about ten COOPECs. In April 2015, with the approval of the BCC, COOPEC CAHI disaffiliated itself from COOCEC Kivu.
COOPEC CAHI is one of the oldest savings and credit cooperatives in South Kivu and currently the largest microfinance structure in the province in terms of credit volume, savings and scope.
Key figures: as at 30 June 2017, COOPEC CAHI holds a loan portfolio of USD 10,931,677; a savings portfolio of USD 9,573,158; 20,471 savers; 5,064 borrowers; 65 agents and executives.
