Fatshimetrie, October 10, 2023 – For many months, the government of the Democratic Republic of Congo has undertaken significant efforts to strengthen transparency in the banking sector in order to effectively support local entrepreneurs. In a recent interview, Jean-Jacques Lumumba, banking expert, shared relevant thoughts on strategies for granting credit to young entrepreneurs and their impact on the country’s economic development.
When addressing the issue of granting credit to entrepreneurs, Jean-Jacques Lumumba emphasizes the importance of profitability and the ability of entrepreneurs to repay the loans obtained. He highlights the need for the latter to have a solid self-financing capacity, essential to attract bank financing. However, a major obstacle remains: the lack of sufficient financial guarantees to secure loans. In this context, the creation of guarantee funds, managed efficiently, appears to be an essential lever to support young entrepreneurs and promote their access to credit.
One proposal also attracts interest: the creation of an agricultural credit bank to boost the agricultural sector, meet the country’s food needs and promote rural entrepreneurship. This initiative would allow the DRC to strengthen its financial autonomy by promoting the creation and management of banks controlled mainly by national actors. Indeed, the opening of local banks to foreign capital has raised questions about the country’s financial sovereignty. It is necessary for the government to address this strategic issue to effectively support agricultural and investment policy.
With regard to supporting young entrepreneurs, Jean-Jacques Lumumba highlights the essential role of institutions such as ANADEC, FOGEC and ARSP. These organizations, although not financial institutions, provide valuable technical support to Congolese entrepreneurs. However, to promote more significant socio-economic development, it is necessary to go beyond supervision to propose more comprehensive solutions adapted to the real needs of entrepreneurs.
In conclusion, granting credit to entrepreneurs in the DRC cannot be limited to a simple question of financing. It is imperative to put in place effective policies and mechanisms to guarantee equitable access to credit, strengthen the country’s financial autonomy and sustainably support the development of local entrepreneurs. These measures will stimulate entrepreneurship, promote job creation and contribute to the economic growth of the Democratic Republic of Congo.There is still a long way to go, but promising initiatives and strategic thinking can open up new perspectives for a dynamic and prosperous entrepreneurial sector.