The impressive results of the COPA program in the DRC: more than 29.7 million dollars in additional turnover and the creation of thousands of jobs
The Business Plan Competition (COPA) program set up by the Congolese government and subsidized by the World Bank, has achieved remarkable results by supporting 430 small and medium-sized enterprises (SMEs) as well as 960 young entrepreneurs in Democratic Republic of Congo (DRC).
According to the report of the Coordination Unit of PADMPME, an organization in charge of supervising the program, the SMEs supported generated an additional turnover of 22.7 million US dollars. This success is all the more remarkable as 37% of these companies managed to move from the “small business” category to that of “medium business” thanks to this support.
In total, these SMEs have contributed to the creation of more than 2,151 jobs, 45% of which in the agro-industrial sector. In addition, 170 SMEs succeeded in mobilizing additional bank financing, totaling more than $1.4 million.
As for young entrepreneurs, the report indicates that they achieved an additional turnover of 7 million dollars. 70% of them have been formalized thanks to the technical and financial support of the PCU/consortium. In addition, 95% have benefited from the first installment of the state subsidy, of which 75% have already started production.
The impact of these young entrepreneurs is also significant in terms of employment, with the creation of 1938 jobs, of which 36% in the agro-industrial sector.
These results were welcomed by the Minister of Small and Medium Enterprises, Mzinga Birihanze, who called on the DRC’s technical and financial partners to rethink their support strategy for businesses and SMEs.
The COPA program aims to strengthen the entrepreneurial skills of young people and established SMEs in order to improve their growth and performance. It also aims to create a breeding ground for a new generation of entrepreneurs to develop the local economic fabric, particularly in the industrial processing sector, and to contribute to the creation of stable jobs while consolidating existing jobs.
These encouraging results demonstrate the effectiveness of support for SMEs and young entrepreneurs and underline the importance of continuing to support and invest in these key sectors of the Congolese economy. The COPA program is therefore a successful example of collaboration between the Congolese government and the World Bank to promote economic development and employment in the DRC