PRESS RELEASE
FAGACE AND FIGA DEVELOP SYNERGIES TO BOOST THE FINANCING OF THE CONGOLESE ECONOMY
An official mission of impregnation and sharing of experiences led by Mr. Armel MBOULOUKOUE, Director General of the Guarantee and Support Impulse Fund for SMEs and Crafts (FIGA) stayed in Cotonou, from 1st to June 4, 2021 and is part of the formalization of the partnership between the two institutions FAGACE and FIGA.
FIGA is a Congolese financial institution, which started its activities in January 2021, and has the missions, among other things, to support Very Small and Medium Enterprises and artisans by providing them with the guarantees necessary for their access to bank financing.
From the discussions with the Delegation, it emerges the desire not only to learn from the experience of FAGACE but also to carry out synergistic actions with a view to strengthening the role of guarantors in the financing of the Congolese private sector in general and VSEs/ TPI and SME/SMI in particular. With this in mind, a Memorandum of Understanding was signed between the parties.
Through this Memorandum of Understanding, FAGACE marks its availability to provide technical support to FIGA for:
- the establishment in Congo of support structures for the private sector;
- joint guarantee interventions on projects;
- FAGACE’s support for training programs initiated by FIGA for its staff, banks, SFDs, design offices and SMEs/SMIs, and professional organizations;
Through the jointly selected development axes, the major objective of FAGACE is not only to develop cooperation with FIGA but also to contribute to accelerating the financing of the Congolese economy, particularly through VSEs/TPIs and SMEs/SMIs. , to deepen dialogue with technical and financial partners as well as the private sector.
At the end of the mission, the Delegation expressed its sincere thanks to the Director General of FAGACE and all of his teams who contributed to the successful completion of the mission and bilateral meetings must continue for the successful outcome of the steps taken. .
It should be noted that this activity of support for the National Guarantee Fund of member countries is part of the implementation of the new FAGACE Strategic Plan 2021-2025 which intends to provide Member States with appropriate instruments. in order to boost the financing of their economies.
