In a bid to diversify its revenue streams and modernize its economy, Congo, like many of its African counterparts, is turning to digital technology. The country is banking on collaborations with seasoned partners in the digital arena to yield positive outcomes in the near future.

U.S.-based Pay Rem Group Inc, a firm focused on modernizing financial services, is set to launch several digital initiatives in the Congo in the upcoming months, in collaboration with the government. A memorandum of understanding was inked on March 18 between the company, Congo’s Digital Economy Development Agency (ADEN), and the Congo Post and Savings Company (Sopeco), aiming to foster digital inclusion and bridge the digital gap in the country.

Héliodore Francis Alex Gouloubi, Managing Director of ADEN, outlined the agreement’s purpose, stating it would facilitate “the execution of a structuring project aimed at enhancing the digital start-up ecosystem through their participation in the operation of certain financial products designed to increase banking penetration.”

The initial phase of the three-way partnership will see the roll-out of several projects in Congo, including setting up a digital bank and a production unit for digital products. The partnership will also ensure the provision of broadband internet services in the country’s remote areas.

This agreement aligns with the Congolese government’s digitization efforts across all key sectors, with a particular emphasis on the financial sector. The modernization of these sectors and the growth of the digital economy represent the fifth pillar of the National Development Plan 2022-2026.

The implementation of projects under this agreement should help to revitalize and reinvent Sopeco, reduce the digital divide, develop financial inclusion for the population, and create jobs, among other things. The aim is to create 3,000 to 4,000 jobs in the first phase of the project and 20,000 in three years.

Samira Njoya