République Démocratique du Congo
Funding granted
Loan of €915 110
(equivalent in local currency)
Foundation partner
since 2022
Partner website
Contexte :
The Democratic Republic of Congo (DRC) has two-thirds of Africa’s tropical forests, a rich subsoil, and great hydroelectric potential. The economy has been plagued by political conflict for the past two decades. After reaching the third fastest growth rate in the world (10.5%) in 2014, the economy is slowing down, mainly due to rising inflation and falling export prices. In 2021, the economy grew by 4.9 percent. This was largely due to a recovery in the mining sector after a pandemic-related downturn the previous year.
L’entreprise :
SMICO S.A (Société Congolaise de Microcrédit) is a microfinance institution in the Democratic Republic of Congo, headquartered in Goma, North Kivu. Founded in December 2009 by Belgian-Congolese shareholders. Since 2018, SMICO’s annual profit has averaged between $300,000 and $800,000. By the end of 2021, SMICO had 93 customer service representatives, $15 million in savings and 14.3 million in loans.
Impact :
Led by Michel Verwilghen (Chairman of the Board of Directors), this microfinance company aims to facilitate access to financial services for low-income producers (merchants, farmers, artisans) who are excluded from the traditional banking circuit.