Congo - Banking - Microfinance Institutions

The largest microfinance institution is Mutual Savings and Credit (Mucodec), a network of federal mutual funds whose mission is to support small businesses. The majority of Mucodec's activities are focused on public sector employees. Mucodec generated revenues of six billion CFA francs in 2021, thanks to savings and loans granted to its 412,179 members, despite the dual health and economic crisis. With 45 branches spread across Congolese territory, the MUCODEC network is the leading financial institution in Congo Brazzaville. Mucodecs operate without foreign capital or financial support from local banks. All the funds 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 Central African Banking Commission (COBAC) regulation on guaranteed minimum banking services, the General Directorate of National Financial Institutions (DGFIN) has ordered credit institutions to provide basic banking services free of charge.

In addition to microfinance institutions, there is the Fund for Participation in the Promotion of Businesses and Their Development (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. Furthermore, in the CEMAC zone, an average of nearly 70% of loans are secured by personal guarantees, the value of which, on average, far exceeds the loan amount.