Business plan competition program: positive impact on SMEs and young entrepreneurs in the DRC
The Business Plan Competition (COPA) program in the Democratic Republic of Congo (DRC) has been a resounding success, with a total investment of US$45 million in the development of small and medium enterprises (SMEs) as well as in support for young entrepreneurs.
According to the managers of this government project, 430 established SMEs and 960 young entrepreneurs have been supported throughout the DRC since the establishment of the COPA program. These results were presented during a recent workshop to present the results of the project.
The Minister of Entrepreneurship, Small and Medium Enterprises (SME), Désiré Mzinga Birihanze, declared himself satisfied with the results obtained by the COPA program. He called on the technical and financial partners to review their support strategy for businesses and SMEs.
According to the Minister, COPA’s approach, which combines financial assistance and technical assistance involving public and private sector stakeholders, is a success that should encourage partners to rethink their support for businesses and SMEs.
The Minister underlined the importance of this project for President Félix Tshisekedi, who considers COPA to be his first emblematic project since his election in 2018. He affirmed that this project was a first step towards the creation of Congolese millionaires, in accordance with the President’s goals.
Seke Kithima, representative of the UCP-PADMPME Unit, revealed some results obtained thanks to the COPA project. 37% of the companies supported, ie 112 SMEs, changed from the status of small company to that of medium-sized company during the program. The 430 participating SMEs also increased their turnover by US$22.7 million. More than 2,151 jobs were created, mainly in the agribusiness sector, and 170 SMEs managed to mobilize additional bank financing of more than US$1.4 million.
The SME Development Support Program (PADMPME) is a joint initiative of the Congolese government and the World Bank, financed to the tune of 100 million US dollars. It aims to support the growth of SMEs, create employment and entrepreneurship opportunities for young people and women in the targeted areas.
These encouraging results of the COPA program testify to the efforts made by the Congolese government to stimulate entrepreneurship and the economic development of the country. They are also encouraging for future support projects for SMEs in the DRC