The adult population of the Democratic Republic of Congo (DRC) is estimated at 40 million people, of whom 19 million live in remote rural areas. According to the 2015 FinScope survey, more than 25 million individuals are financially excluded and do not use any financial services. In addition, only 7 million people are affected by formal financial services, and of these, only 1 million individuals have access to more than one type of formal financial services.
These figures show that, when compared to other countries in the region, the DRC is, in terms of financial inclusion, at the bottom of the range.
The Joint Program (hereinafter “ACTIVE Project”), planned for a period of three and a half years (September 2017 to February 2021) with an estimated budget of US$5.8 million, aims to improve the well-being of women, increase economic efficiency and support growth by increasing the percentage of adults. (including women and youth) who have access to formal products and services offered by a variety of financial service providers. Inclusive finance players will thus be involved in partnerships and better coverage, including in rural areas. The aim is to combine efforts and expertise to reduce poverty and inequality with the aim of contributing sustainably to the development of an economically and financially inclusive society in the DRC.
The main objectives will be:
- build confidence in savings and promote financial education and consumer protection;
- strengthen institutions (MFIs, Coopec and their professional associations...) selected as project partners in order to ensure a favourable environment and support innovations in the while providing territorial coverage in low-income and unserved areas; and
- increasing access to savings, credit, transfers, remittances and micro-insurance by targeting low-income men and women, including those in rural areas, youth and micro entrepreneurs.
At the strategic level, the DRC's Roadmap for Financial Inclusion 2016-2021 is the key instrument that the Government will use to create the necessary conditions for the development of market access for financial inclusion purposes. The ACTIVE project will support the implementation of some key areas of the Roadmap alongside other strategic partners. It focuses on issues where UNDP and UNCDF have specific advantages and, aimed at strengthening the capacity of financial service providers and their clients.
Expected results of the Project:
- Result: Microphone, the Financial Service ProvidersProject partners will be strengthened, enabling them to develop innovative methods adapted to the specific needs of women, men and young people, particularly among farmers and micro entrepreneurs, while taking into account the environment and the environment and the environment. related to climate change.
- Outcome 2: Awarenessity, the capacity and sustainability of intermedialinstitutions are improved, enabling them to support and train microfinance institutions and member Coopec.
- Outcome 3: Digital payment and digital remittance are developed and adopted by consumers, including through catalytic efforts to open and expand internal and cross-border remittance corridors.
- Result 4: At the macro level, the policy framework as well as the regulatory and institutional framework for microfinance are being strengthened to contribute to the implementation of the National Roadmap on Financial Inclusion under the leadership of the Ministry of Finance.
- Result 5: Knowledge and lessons learned are developed and shared with key stakeholders
Project location(s): The Democratic Republic of Congo, focusing on Kinshasa, Kongo- Central, Kwilu, Haut Katanga, North Kivu, South Kivu, Ituri and Tanganyika.
Beneficiaries of the Project: Financial service providers (Coopec, MFIs, banks) selected as project partners and end users, the Fund for Financial Inclusion (FPM asbl), professional associations (ANIMF, APEC), youth support organisations, supervisory and supervisory authorities of the sector collaborating with the Project (Ministry of Finance, Banque Centra