News in the Democratic Republic of Congo: SMEs create nearly 4,089 jobs
In a report recently published by the Coordination Unit of the Support Plan for the Development of Micro, Small and Medium Enterprises (PADMPME), it was revealed that small and medium-sized enterprises (SMEs) as well as young entrepreneurs have created a total of 4,089 jobs in the Democratic Republic of Congo. These encouraging figures were obtained thanks to their participation in the Business Plan Competition (COPA).
SMEs were the main contributors to this job creation, with more than 2,151 jobs in the productive sectors of the economy, including 45% in agro-industry. As for young entrepreneurs, they have created a total of 1,938 jobs, of which 36% are in the agribusiness sector as well.
This government program actively supports 430 SMEs, which have managed to increase their turnover significantly, adding US$22.7 million to the country’s economy. In addition, 37% of these SMEs managed to move from the “small business” to “medium business” category during their support.
In terms of financing, 170 SMEs succeeded in mobilizing more than 1.4 million US dollars from banking institutions. Young entrepreneurs, meanwhile, managed to raise $7 million in additional revenue.
It is important to emphasize that this program of the Congolese government, financed by the World Bank, aims to create a middle class in the Democratic Republic of Congo. Its objective is to strengthen the entrepreneurial capacities of young people and SMEs, to expand the fabric of local MSMEs in the industrial processing sector, and to contribute to the creation of stable jobs and the consolidation of existing jobs.
These encouraging results demonstrate the positive impact of these initiatives on the Congolese economy, by promoting business growth and job creation. They also bear witness to the government’s desire to promote entrepreneurship and support the country’s economic development.