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DRC: Central Bank launches a Notice to Expression of Interest

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DRC: Central Bank launches a Notice to Expression of Interest

The Central Bank of Congo (BCC) has just launched a Notice to Expressions of Interest for the Selection of a Consultant for the Design and Monitoring of an Operational Framework for the Monitoring of Payment Systems and Instruments in the Congo . The deadline for submissions is 18 September 2019 at 11 am from Kinshasa.

According to this Opinion, any interested legal entity (firm, firm, consulting firm, etc.) should meet the requirements set out in the terms of reference and provide full information on its qualifications and experience. Below, the entirety:

DRC: Central Bank launches a Notice to Expression of Interest

DRC: Central Bank launches a Notice to Expression of Interest

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Banks

DRC: BGFIBank launches the process of obtaining AML 30000 certification

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DRC: BGFIBank launches the process of obtaining AML 30000 certification

BGFIBank RDC has just started the process of obtaining the AML 30000 certification. This is the demanding compliance standard that it intends to hold in order to reinforce the level of trust of its customers and partners. The announcement was made through an official statement to Zoom Eco.

Indeed, the AML 30000 standard for « Anti-Money Laundering – Index 30000 » is carried by a group of international experts specializing in the fight against money laundering and terrorist financing.

The framework is based on standardization models and certification systems set out in the international regulations on the fight against money laundering and terrorist financing. And the standard is issued by a duly authorized third-party certification body.

« This external certification process, which reflects the strategy of BGFIBank DRC, aims to strengthen the compliance of the Bank’s processes with the most stringent international requirements in order to raise the level of trust vis-à-vis -vis of its customers and partners, « says senior management.

BGFIBank DRC will be assisted by the international law firm Hugues Hubbard & Reed LLP as part of this process as well as in the implementation and strengthening of its AML / CFT internal control system (fight against money laundering and terrorist financing). ).

The BGFIBank Group, present in eleven countries in Africa and Europe, claims to be market leader in Central Africa. In the DRC, its subsidiary headed by Marlene Ngoyi Mvidia is in the top 4 of the largest banks. Its market shares are constantly growing.

Agnes KAYEMBE

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DRC: Equity Bank launches Digital Banking campaign « being free »

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DRC: Equity Bank launches Digital Banking campaign "being free"

Equity Bank Congo has launched, this Monday, July 22, 2019, its new campaign on Digital Banking under the theme: « be free to move with his bank at any time. A diverse range of digital banking services is the focus of this campaign which, according to Chief Executive Officer Célestin Mukeba, confirms his bank’s leadership in innovation. Objective: to further facilitate the settlement of financial transactions in the DRC.

Indeed, the presentation with experimentation concerned the service on Mobile Banking of Equity Bank which offers adapted applications such as Eazzy Banking, Telegram Messenger, e-commerce, menu USSD * 420 # for those who do not have smartphones.

Added to this is the transfer of money to a telephone number, can import the telecommunication network and from one region to another; withdrawal by code (without credit card) on any ATM of Equity; the transfer of money from a mobile money account to an Equity account or from the Equity account to a money mobile account; the deposit without card on the distributor as well as the diaspora offer allowing the opening of account online.

According to Célestin Mukeba, Equity Bank’s approach aims to equip its customers with the best digital services that make them more autonomous and offer them more freedom and ease to transact with confidence and security.

A pioneer in technological innovation in the DRC thanks to the establishment in 2005 of the first ATM and electronic banking, Equity Bank is determined to work to bring innovative dynamism to the Congolese financial sector.

In the DRC, this bank continues to expand steadily. To date, it has 43 conventional agencies and more than 2,600 Cash Express points across the country. The managing director of Equity Bank reassures that this vast network, the first of the private banks, will continue to expand for a better support of the customers in order to offer them an excellent experience.

As a reminder, this Digital Banking campaign will be relayed through audiovisual and digital media including audio and video spots as well as advertising banners.

Emilie MBOYO

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Banks

DRC: high interest rate, a 95% fixation due to exogenous factors of banks

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The determination of the interest rate deemed « high » is dictated at 95% by exogenous factors of Congolese banks, lenders of private sector companies in the DRC. This is reflected in the exchanges of the « Breakfast Connexion » special panel dedicated to the course of the Congolese investor organized on Saturday, July 13, 2019, by Top Congo FM, a radio broadcasting from Kinshasa, on the occasion of its 16 years of ‘existence.

The banker Hugues Bonshe proceeded by a clear schematization to explain this situation which starts from the report according to which the Congolese economy is dollarized at 90%. If the DRC dollar is imported with exorbitant import costs, the financing of medium and long-term projects requires refinancing by banks whose cost is determined by several factors abroad (high country risk is billed consequently increasing the nominal rate).

In addition, he argues, the interest on which the tax authorities levies a 20% property tax to incorporate. There is also the inflation for which the banks have to protect themselves, even though it has stabilized for a year.

Moreover, the regulation of the Central Bank of Congo (BCC) requires that for any credit granted, commercial banks must set aside a provision to cover the risk of default. However, the tax authorities charge back to charge 30% of this provision. Finally, all the operating expenses to be covered by the bank are also to be included in the determination of the interest rate practiced in the DRC at around 16%.

« When you take these different elements, you will understand that 95% of elements are imposed by factors that do not depend on banks today. The administration is largely responsible for this situation. If we manage to facilitate these different points, it will be possible for banks to finance at a low rate », said Hugues Bonshe.

If the key rate of the Central Bank of Congo (BCC) is set at 9.0%, financial intermediaries who are banks are also required to integrate their profit margin.

According to this panellist, the Congolese banking sector therefore has a sufficient credit portfolio to support small and medium-sized enterprises (SMEs) in the DRC. Hence, the need for economic operators and entrepreneurs to improve the accounting management of their entities and set up bankable projects to take advantage of them.

« Faced with SMEs looking for funding but do not meet these requirements, many Congolese banks are reluctant to take the risk of granting credit », said Hugues Bonshe answering a question asked him.

Taking the example of the bank where he is deputy general manager, this banker pleaded for support to inform the economic operator on the financing possibilities that exist, to form and formalize its activities. Equity Bank Congo, he revealed, is willing to finance an economic operator up to 200 million US dollars.

Olivier Kamo

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