MFHPEK / Kwango pleads for support to reduce the percentage of loan repayments

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Kenge, June 19th, 2021 (CPA).- The president of the board of directors of the cooperative called « Mutual women-men progress together for the development of Kwango » (MFHPEK / Kwango) officially launched since May 6, 2016 and whose head office is located at the procurement of Kenge, pleaded Wednesday with the provincial authorities and financial partners, after the evaluation of its five years of existence, for financial support to reduce the percentage of loan repayment and extend the deadline for improving household baskets and community resilience.

For her, the objective of this mutual is to contribute to the improvement of financial inclusion in the province of Kwango through the provision of savings and credit products adapted to local needs by collecting the savings of its members under all its forms, grant loans to its members, train and inform about microfinance and the simplified management of an income-generating activity.

She recalled that a five-year evaluation, from January 2016 to April 2021, was made at the end of May 2021, noting that until April 2021 the cooperative only has 3,015 shares, i.e. 152.6% constituting the source of shares.

During this period, said the PCA of the MFHPEK / Kwango, the mutual which held CDF 247,734,600 and $ 39,276 as members’ savings, granted, at this deadline, the sum of CDF 90,351,000 or $ 11,090 and the average of credit granted per month amounted to 22,587,750 or $ 2,772.5, indicating that 3,071 people received the credit during the five years, including 1,706 women against 1365 men.

Despite the difficulties encountered, the COOPEC (Savings and Credit Cooperative) intends to improve the quality of its services to effectively meet the needs of its members, suggesting that Caritas-Kenge continue to supervise and encourage the progress of the cooperative through its advocacy policy on social works.

The MFHPEK / Kwango was officially launched on May 6, 2016 by the governor of the province of Kwango and was created by 17 associations supervised by Caritas within the framework of the “Men-Women Program, let’s progress together”, in its micro credit component, we remind. ACP/