4089 new jobs created by SMEs and young entrepreneurs in the Democratic Republic of Congo
Encouraging news has just been announced in the Democratic Republic of Congo (DRC). According to a report by the PADMPME Coordination Unit, 4,089 new jobs were created by Small and Medium Enterprises (SMEs) and young entrepreneurs who participated in the Business Plan Competition (COPA). These figures testify to the positive impact of these initiatives on the Congolese economy.
The report points out that SMEs have contributed to the creation of more than 2,151 jobs, mainly in the productive sectors of the economy. Agribusiness stands out as the sector that created the most jobs, accounting for 45% of the total. This trend demonstrates the importance of agro-industry in the economic development of the country.
For their part, young entrepreneurs also played a significant role in job creation, with a total of 1,938 new positions. The agribusiness sector has once again proven to be a driver of employment for young people, accounting for 36% of jobs created.
The government program to create the middle class in the DRC supported a total of 430 SMEs, which managed to increase their turnover by US$22.7 million. In addition, 112 of these SMEs succeeded in moving from the category of small businesses to that of medium-sized businesses.
In terms of financing, 170 SMEs succeeded in mobilizing additional bank financing for a total amount of more than 1.4 million US dollars. Young entrepreneurs, for their part, generated additional sales of $7 million, demonstrating their dynamism and success.
It is also important to highlight that the government program has contributed to the formalization of 70% of young entrepreneurs, with financial and technical support from the UCP/consortium. In addition, 95% of them have received the first installment of the state subsidy, and 75% have already started production.
This program, financed by the World Bank, aims to strengthen the entrepreneurial capacities of young people and SMEs, to expand the fabric of SMEs operating in the industrial processing sector and to create stable jobs. It is part of a broader vision of the Congolese government to promote the economic and social development of the country.
This promising economic success demonstrates the importance and potential of SMEs and young entrepreneurs in job creation and economic growth in the DRC. With adequate support and targeted government initiatives, it is possible to foster their development and stimulate the Congolese economy towards a prosperous future