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DRC: “Choose Africa”, the growth accelerator for SMEs in Africa

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The general director of Proparco, Gregory Clemente has just presented, this Thursday, June 13, 2019, the program called “Choose Africa.” This French initiative aims to accelerate the growth of small and medium enterprises in Africa including the DRC. It was during a press exchange organized on the sidelines of the activities of the sixth French Week in Kinshasa.

Indeed, “Choose Africa” is an initiative of the French president, Emmanuel Macron, to support projects structuring African entrepreneurs. It is supported by the French Development Agency (AFD), of which Proparco is the structure dedicated to the private sector.

10,000 VSEs / SMEs targeted by 2022

It is a total of more than 2.5 billion euros that are dedicated to the financing of the 10,000 VSE / SME by 2022.

According to the CEO of Proparco, € 1 billion will be invested in equity either through direct investments in companies or through investments in private equity funds oriented to SMEs.

And 1.5 billion euros will be in line of credit and guarantees. These credit lines will be granted to local banks and dedicated to SMEs or guarantees given to banks to cover the risk.

“What is planned is to develop our business more than what we have in our portfolio today. To have a particular attention with regard to startups who emerge here in the DRC. And through this initiative and the ability we have to deploy certain number of financial instruments, we want to accompany them”, said Gregory Clemente.

Three types of accompaniment

As a gateway to all AFD and Proparco financing and back-up solutions, Choose Africa provides support to VSEs / SMEs in three areas: financing, technical support and support for the business ecosystem.

“There is no envelope reserved for the DRC even less to each country. It’s really about seeing what the opportunities are in the sectors we want to focus on: infrastructure, renewable energy, education, health, and so on. We will look at the various projects that are presented to us and we will be able to finance and / or support entrepreneurs according to the quality of their project”, reassured Gregory Clemente.

And to improve the quality of projects, Choose Africa has the ability to mobilize both human and financial resources to help structure VSEs / SMEs to access funding. In the DRC, we learn, several initiatives already benefit from this support.

In addition, the Choose Africa program also has a dimension called “Digital Africa”, which aims to support project leaders, start-ups through technical assistance and capacity building, work on the environment, the incubation of start-ups to develop their initiatives through a range of possible funding.

It is a platform that is specifically set up to inform and guide SMEs. www.choose-africa.com will allow them to inform themselves and be oriented towards financing or support solutions made available by the AFD Group.

As well, it will enable local financial intermediaries (banks, investment funds, microfinance institutions, etc.) to learn about the AFD Group’s offer, enabling them to mobilize additional financing for VSEs / SMEs.

Eric TSHIKUMA

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Dikembe Mutombo, NBA legend, passes away at age 58

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The NBA is mourning the loss of one of its greatest defensive icons. Dikembe Mutombo, the former 7-foot-2 center, passed away at the age of 58 due to a brain cancer, as reported by The Athletic on Monday, September 30.

A defensive record-holder

Born in the Democratic Republic of Congo, Mutombo left an indelible mark on the NBA with his exceptional defensive skills. During his career, he won the Defensive Player of the Year award four times (1995, 1997, 1998, 2001), a record he shares with Ben Wallace and Rudy Gobert. Gobert, in achieving this feat, highlighted the legacy Mutombo left on the game.

 

Drafted in 1991 by the Denver Nuggets, Mutombo went on to play for several notable teams, including the Atlanta Hawks, Philadelphia 76ers, New Jersey Nets, New York Knicks, and finally the Houston Rockets, where he retired in 2009.

 

A life of commitment beyond basketball

 

Although Mutombo never won an NBA championship, with two finals losses (in 2001 with the 76ers and 2003 with the Nets), he was inducted into the Hall of Fame in 2015. Beyond his impressive sports career, he dedicated his life to humanitarian efforts, particularly in Africa. He worked tirelessly to develop basketball across the continent and to help those in need.

NBA Commissioner Adam Silver praised his contributions in a statement: “Dikembe dedicated his life to helping others. He was not only a great player but also a global ambassador for basketball and a humanitarian. His commitment to the community, especially in his native Congo, will be forever remembered.”

Mutombo’s legacy continues to inspire generations of players and humanitarians around the world.

ZoomEco

 

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World: 83% of the non-electrified population live in Africa

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Africa is home to 83% of the world’s non-electrified population. A thundering paradox, given the continent’s immense hydroelectric potential.

The continent faces a shortage of affordable, reliable and sustainable energy. A think tank dedicated to the development of long-term public and energy policies points out that this is holding back the momentum of individuals and companies alike.

According to the experts, the pace of electrification needs to triple in order to absorb this deficit, rethink several economic models, and put Africans on the path to prosperity.

Dynamic project vehicles on the move

The World Bank Group has pledged to connect 250 million people to electricity, while the African Development Bank (AfDB) will do the same for a further 50 million.

The World Bank Group’s investments are already providing the impetus needed to reach the target, illustrated in its ambitious “Mission 300” program.

East Africa

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DRC: Egyptian Ambassador Hesham El Mekwad pays a courtesy visit to ANAPI

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On Thursday September 25, 2024, Bruno Tshibangu Kabaji, Managing Director of the Agence Nationale pour la Promotion des Investissements (ANAPI), and Hesham El Mekwad, the Egyptian ambassador accredited to the Democratic Republic of Congo, exchanged views on investment and trade issues.

The Egyptian diplomat was accompanied by Adham Thabet, development cooperation advisor at the Embassy of the Arab Republic of Egypt.

Discussions between the two personalities focused in particular on the role of ANAPI as the body responsible for supporting investors in the DRC.

While stressing the need to increase economic and commercial cooperation between Egypt and the DRC, the two parties encouraged Egyptian investors to step up their presence in several fields in the DRC, notably energy, transport, infrastructure and agriculture, fisheries and livestock.

With this in mind, the Egyptian Ambassador expressed the wish to establish regular contacts with ANAPI to support this mutual ambition.

Nadine FULA

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