Congo - Microfinance Institutions

The largest microfinance institution is the Mutual Savings and Credit Union (Mucodec), a network of federal mutual investment funds whose mission is to support small businesses. Most of Mucodec's activities are focused on public sector employees. In 2021, Mucodec achieved a profit of six billion CFA francs, thanks to savings and loans granted to its 412,179 members, despite the dual health and economic crisis. With 45 branches spread across the Congolese territory, the Mucodec network is the leading financial institution in Congo-Brazzaville. Mucodec operates without foreign capital or financial contributions from local banks. All the branches are organized into networks around an umbrella body, the federation, which implements the same managerial and commercial strategy.

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The financial inclusion situation in Congo has generally improved. In accordance with the Cemac/Umac/Cobac regulation of July 3, 2020 and the regulation of the Banking Commission of Central Africa (Cobac), relating to the guaranteed minimum banking service, the Directorate General of National Financial Institutions (DGFIN) has instructed credit institutions to provide basic banking services free of charge.

In addition to microfinance institutions, there is the Fund for Participation in the Promotion and Development of Enterprises (CAPPED), whose mission is to contribute to the promotion of its members' economic and social initiatives. Furthermore, in November 2007, the government created the Congolese Housing Bank (BCH) to carry out all banking operations aimed at implementing housing policy. This was followed in 2008 by the creation of a National Housing Fund to help Congolese households finance the development of private property. Moreover, in the CEMAC zone, nearly 701% of loans, on average, are secured by personal guarantees, the value of which generally far exceeds the loan amount.