Afrique Avenir –

Micro-credit is considered as the most efficient tool in terms of economy amelioration and poverty reduction in Africa.

In Congo-Brazaville, a large number of Microfinance establishments (MFE) have tried to help the poorest layers of population get economically and socially involved. These establishments are mainly based in Brazaville and Pointe Noire, the two largest cities of the country. In 2004, the total number of recorded registrations at the official MFEs reached 33.5 billions CFA Francs while the loans amounted to 6.7 billion CFA Francs.

The Congolese government has been collaborating with these organisms since 2006. It obtained a donation by the African Bank for Development (ABD) to fund over five years (2006-2011) the supporting project regarding the socio-economic reinsertion of the disadvantaged groups.

Towards an anonymous finance company

As part of this project, the international organization of micro-credit PlaNetFinance intervenes in this project by helping the Congolese government create an anonymous finance company for the loan guarantee and re-financing of the microfinance establishments. The Funds for the socio-economic reinsertion of the disadvantaged groups are meant to help young people as well as unemployed create their own company. The government has invested 380 million CFA Francs in the capital of this company. Other backers have been contacted as well. The government is going to provide the eligible microfinance establishments with computing material and management software.

Micro-finance establishment’s executives and agents are undergoing training

Furthermore, as part of this project regarding the socio-economic reinsertion of the disadvantaged groups, the Minister of Health and Social Affairs, Emilienne Raoul, officially launched a training programme for the micro-finance establishments. The government has also been giving practical advise to the trainees. These trainings are meant to help the executives as well as agents of micro-finance establishments to bring more professionalism in the sector. Training will be provided by PlaNetFinance whose mission is to fight against poverty by supporting the micro-finance development.

Micro-finance establishments in Congo-Brazzaville have noted significant progress

The Congolese Government’s actions have been fruitful. Micro-finance has developed and a good number of organisms have noted encouraging results.

For instance, on 29th August last year, the micro-finance establishment “Mutual Action Funds” (MAF) presented its report of activities during its ninth general assembly. With a turnover of 418.5 million CFA Francs in 2008 against 283.3 million in 2007, this establishment has known a considerable progress of its activities.

This organism is specialized in assisting and supervising retailers, artisans and peasants with different loans. Its number of workers has gone from 928 to 1333 in the subsidiaries in Brazzaville and Pointe Noire and MAF has granted 355 loans, either 370.3 million CFA Francs. This sector of trade has recorded more demands than any other sector.

In terms of 2009, MAF bought a plot of land for 50 millions CFA Francs in order to construct its premises. Furthermore, MAF has expanded its activities outside Brazzaville. One of its subsidiaries should open in Ouenzé. Following other mutualists’ demand, the town of Kinkala (in the Pool) will have its subsidiary in 2010. Madingou and Dolisie in Bouenza will follow next.