FPM SA is joining forces with Afriland First Bank CD in DR Congo
In September of this year, the Financial Inclusion Fund FPM SA (FPM), of which Incofin cvso is a founding shareholder, signed a partnership agreement with Afriland First Bank CD (Afriland) in the Democratic Republic of the Congo. FPM is advised by Incofin Investment Management (Incofin) and despite difficult socio-political circumstances in the country, Incofin has succeeded in supporting local micro- and small businesses via this fund.
FPM is joining forces with Afriland to develop innovative programs that contribute to the fight against poverty, strengthen the middle class and deepen financial inclusion in the country.
Afriland will help to strengthen FPM’s capacities by providing loans to be paid out over a period of 3 years. With an estimated envelope of USD 5 million, approximately 500 micro- and small businesses will be supported in DR Congo.
Highlighting the strength of this new partnership, Carlos Kalambay Kabangu, CEO of FPM SA, says: “Afriland is actively engaged in the support of micro-, small and medium-sized business in rural areas, where financial service provision is almost non-existent. This social mission ties in perfectly with that of FPM.”