Kinshasa, December 14th, 2021 (CPA) – Head of State Felix Antoine Tshisekedi Tshilombo instructed the ministers in charge of Entrepreneurship and Finance to urgently work to endow the Guarantee Fund for Entrepreneurship in Congo (FOGEC), a structure provided with facilitators since May 2021, the necessary resources to achieve its corporate purpose.
The Head of State who indicated this in his communication at the 32nd meeting of the Council of Ministers which he chaired last Friday, by videoconference, reminded the Council of the need to make the Guarantee Fund operational entrepreneurship in Congo (FOGEC), a tool designed to materialize its vision of supporting the genius of creativity of young Congolese entrepreneurs working in the informal sector and without financial means.
« A related report is expected at the next Council of Ministers, » said Minister of Communication and government spokesperson Patrick Muyaya Katembwe in his report.
FOGEC, it should be remembered, has been in place since May 2021, with a view to facilitating the financing of small and medium-sized enterprises (SME).
“FOGEC is extremely necessary because it has three important axes. These are the guarantee of access to financing and the sharing of risks with traditional banks which can finance SME; crowdfunding in which the state brings resources into the capital of SME that have no funding; and the subsidization of a project which may or may not be the subject of credit or crowdfunding, but which may be subsidized by the State”, declared the Minister in charge of Middle Classes, SME and Crafts of DRC, Justin Kalumba, when FOGEC was set up last March.
Created in November 2020, FOGEC has the operating mechanisms put in place in January 2021.
In 1973, there had been a Guarantee Fund which could not function because it had only the resources of the state budget as a source of financing. Conversely, FOGEC’s main sources of supply are particularly independent of the state budget. And each province in the country will be able to identify a flagship project in which the state will inject funds as a grant. ACP /