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2010 Annual Conference and General Assembly
from 05/10/2010 to 09/10/2010
Accra, Ghana
Access to Financial Services: Reaching the Poor and Excluded
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RIFIDEC - DRC
NETWORK DETAILS :
Location : Democratic Republic of Congo
Adress : 289, Petit Boulevard Lumumba, 4è rue industrielle, Commune de Limete, Kinshasa
Email : rifidec@rifidec.org
Tel/Fax : Tél. +243 999901345 /
Executive Director : Mr André NKUSU
Website : http://www.rifidec.org
Headquarters : 289, Petit Boulevard Lumumba, 4è rue industrielle, Commune de Limete, Kinshasa
Capital : Kinshasa
Year of inception : 2001
DESCRIPTION :
Créé en Septembre 2001, le RIFIDEC est une association sans but lucratif, apolitique et non confessionnelle à caractère économique.
Jouant un rôle de premier plan dans la lutte contre la pauvreté en R.D.C., le RIFIDEC tient à amener ses membres au professionnalisme dans l’offre des services financiers. Et pour ce faire, il s’est assigné comme objectifs principaux :
- Promouvoir le développement des Institutions de Microfinance (IMF) ;
-Assurer la défense des intérêts collectifs de ses membres ;
- Effectuer le contrôle administratif et de gestion des membres ;
- Organiser des sessions de formation et d’assistance technique ;
-Définir à l’usage des membres, les règles de déontologie de la profession ;
- Favoriser la solidarité et la coopération entre ses membres ;
- Tenir à la disposition de ses membres, l’ensemble d’informations nécessaires à leur exploitation et au développement de leurs services.
VISION AND MISSION :
The mission of Rifidec is to stabilize and promote the sector of microfinance in the DRC, to defend the interests of the decentralized finance system, and to rinforce the institutional capacity of member institutions.
NUMBER OF MFIs : 146
BOARD OF DIRECTORS :
Mme Angélique NTUMBA
Mr Alphonse KISOLOKELE
Network services :
- - Knowledge Management
- Technical Services
Active Borrowers :
49 051
Savers :
78 767
Previous or current donors :
GTZ
OVERVIEW OF INDUSTRY :
According to the World Bank, there are 9 major commercial banks accredited with the central bank in the Democratic Republic of the Congo. The total number of bank accounts in the country is 35,000, with savings in total estimated at US$150 million. Credit activity represents less than 1% of GDP. The World Bank reports that formal banks estimate that there are only 100 to 200 creditworthy companies in the country.
According to the OECD Development Centre, it is difficult to assess the size of the microfinance industry in the DRC today. The main microfinance oversight organization in the country, the RIFIDEC (per SEEP, the Regroupement des Institutions de Financement Decentralise du Congo), registered in early 2003 75 effective members (57 MFIs, 15 COOPECs and 3 others) and 126 non-effective members (113 MFIs, 13 COOPEC). In 2004 per the SEEP Network Sub-Saharan Africa directory, the organization had 62 active members. The RIFIDEC was created in 2001, as an initiative of COPEMECO (confederation of small and medium sized enterprises in Congo), with the objectives of promoting and improving the overall quality of the microfinance sector in the country, to reinforce the organizational capabilities of its members, and to assist member interests in general. The entity has US$250,000 in funding.
According to the IFC, outside entities appear to be gaining interest in the opportunity for microfinance initiatives within the DRC. In September 2004, the International Finance Corporation, the private sector arm of the World Bank Group announced an agreement for a 15 percent equity stake in the start-up of Pro Credit Bank, a microfinance bank in Democratic Republic of Congo (DRC). The bank will provide credit facilities and other financial services to micro and small businesses. The IFC made a US$0.45 million equity investment in Pro Credit Bank. IFC is also providing a US$0.5 million technical assistance grant to the bank for institution and capacity-building. Other foreign equity investors in Pro-Credit Bank include Stichting DOEN of the Netherlands, and Germany’s Internationale Projekt Consult and Internationale Micro Investitionen – the latter in which IFC has an equity stake.
