The President of the Republic, Félix-Antoine Tshisekedi, has made a commitment to operationalize the Bank Guarantee Fund to facilitate the granting of credit to small and medium-sized enterprises (SMEs). In his speech on Saturday, July 27, 2019 in Abuja at the fifth edition of the Tony Elumelu Foundation’s Entrepreneurial Forum, he said the fund will be ready by the end of July.
« By this guarantee fund, we think, as a first step, to cover the risks that banks are reluctant to take. But also, we will impose on them not to exceed the 5% interest rate. It will boost the creative genius of young people and enable the growth we expect from this category of the population. It will also put an end to our brain drain, « said Felix – Antoine Tshisekedi.
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The establishment of this fund is a response to the problem of access of Congolese youth to credit and the government’s efforts to lower interest rates deemed exorbitant. Very often, many young entrepreneurs are stuck for lack of collateral when looking for bank financing to launch their projects.
Indeed, the launch of this bank guarantee fund in the DRC is not at its first promise. A year ago, the Cabinet of Ministers of the Government decided on its rehabilitation for SMEs.
According to the minister of the time in charge of this sector, Bienvenu Liyota Ndjoli, this fund should take the form of pooling, through a line of financing through the gradual allocation, of an amount of 10 million USD to value on the investment credit of the Small and Medium Enterprises Promotion Agency (OPEC). However, the announced envelope has been awaited without success.
The priority given to the financing of the electoral operations of the year 2018 would have justified the non-disbursement of this fund.
With the promise of the new head of state, Félix-Antoine Tshisekedi, many wish that it be materialized to encourage financial institutions, especially banks, to grant credit or loans, in the medium or long term to companies (lacking sufficient guarantee) deemed small or medium according to the legislation in force in the DRC.
It will be one of many actions aimed at promoting Congolese entrepreneurship.
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In addition, the President of the Republic has also launched a vibrant call for young Congolese living abroad to return to invest in the country.
« To develop our countries, we have a major asset, beyond our wealth and potential, it is the population, especially its youth. We must make every effort to keep these children in their homes, by allowing them, through responsible leadership, « he told the Congolese diaspora living in Nigeria.
Nadine FULA
