The Democratic Republic of Congo is modernizing administrative procedures as part of ongoing digital transformation. Through those initiatives, the country seeks to boost economic growth and public well-being with increased efficiency and transparency.

Fonds de Garantie de l’Entrepreneuriat au Congo (FOGEC), the DRC government-backed fund aimed at boosting SMEs’ access to finance, announced on Wednesday, March 6, a partnership with Dutch fintech firm MoneyPhone to digitize the loan guarantee application process for Small and Medium-sized Enterprises (SMEs) in the Democratic Republic of Congo (DRC).

The collaboration aims to implement a digital solution that will expedite the application process for FOGEC’s financial services, replacing the traditional in-person application method. The project is valued at approximately $2 million.

This initiative aligns with the National Digital Plan 2025 and the National Entrepreneurship Development Program, which aim to raise capital for businesses, facilitate credit access, enhance the business environment, digitize administrative procedures, increase the number of businesses, and reduce unemployment.

The new platform is expected to professionalize FOGEC’s services, thereby fostering entrepreneurship and economic growth in the DRC.

Hélène Gakuru Bukara (photo, right), Managing Director of FOGEC, stated, “This is about the youth. We want to tell them that they no longer have to face any obstacles. With this application, all they need is a phone and a connection to present their business plans and get direct access to finance. No more exclusion, long live cohesion and transparency.”

Samira Njoya