Signature of the partnership agreement between FPM ASBL and COOPEC TUJENGE PAMOJA

FPM, Fund for Financial Inclusion in DR Congo organized last November at the KIVU LODGE Hotel in Goma, the signing ceremony of a partnership agreement with the COOPEC TUJENGE PAMOJA. This ceremony was carried out by the heads of two institutions respectively Mr. Jean-Claude THETIKA, General Director of FPM ASBL and Mr. Abbot OSWALD MUSONI RUDAHUNGA (Chairman of the Board of Directors) and Mrs. MYRIAM INYIGWAMBI ATIBAGUE (Manager) TUJENGE PAMOJA.

Jean-Claude THETIKA, Managing Director of FPM ASBL and Myriam INYIGWAMBI ATIBAGUE, manager of TUJENGE PAMOJA

Under its mission, which is part of the national microfinance strategy to improve financial inclusion in the Democratic Republic of Congo, the FPM contributes to poverty reduction in the DRC by promoting the development of sustainable offers financial services accessible to Micro, Small and Medium Enterprises (MSMEs) and low-income households.

To achieve this, the FPM relies on financial institutions, providing them with technical assistance and funding, which in turn facilitates sustainable access to quality products and services to micro, small and medium-sized enterprises and low-income households. The FPM intervenes through the following axes:

– Direct technical assistance (for the benefit of partner financial institutions);

– Transversal technical assistance (Forums and trainings and market studies);

– Refinancing through his vehicle FPM SA.

It is within the framework of its direct technical assistance component that the FPM will support the COOPEC TUJENGE PAMOJA. This partnership will run until the end of the first quarter of 2019 and will consist mainly of supporting the institution in the following areas:

– The finalization of the transformation process from a savings and credits cooperative (SACCO) form towards a microfinance company with a legal form of “Société Anonyme” (Limited Company);

– The development of activities (credit and savings) both in the volume of portfolios and in improving the quality of service with a customer centric approach;

– The optimization of the management information system and the control system in order to allow the institution to better serve its customers while controlling the various risks inherent to the activity.

TUJENGE PAMOJA is a SACCO created in 2007 and approved since 2009 by the Central Bank with a solid social capital mainly owned by CARITAS GOMA and the clergy of the diocese of Goma. The institution’s financial indicators for 2018 show that profitability is positive and that credit and savings portfolios are currently expanding. Growth in 2018 is significantly higher than in previous periods. Thus, TUJENGE PAMOJA would like to take advantage of this renewed partnership with FPM to further increase its positioning in the city of Goma and the peripheries.

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