The total balance sheet of banks in the DRC does not allow for the direct financing of multi-billion dollar mining projects. The banking sector in the DRC has limited risk management capabilities, which restricts lending at reasonable rates.
However, banks are actively involved in financing the entire mining ecosystem, i.e. the value chain including subcontractors and their employees.
Key figures
Sofibanque is the 4th largest bank in the country with a balance sheet of over USD 1.1 billion.
The balance sheet almost doubled in 2022 and achieved an after-tax profit of USD 20.8 million. Sofibanque has 57 branches and representative offices throughout the country. It has 648 employees who put their skills at the service of 1262 corporate and private accounts, 127 corporate and public accounts, and nearly 55,375 individual accounts.
The Role of the Banking Sector in the DRC Mining Industry
The total balance sheet of banks in the DRC does not allow for the direct financing of multi-billion dollar mining projects. The banking sector in the DRC has limited risk management capabilities, which restricts lending at reasonable rates.
However, banks are actively involved in financing the entire mining ecosystem, i.e. the value chain including subcontractors and their employees.
Key figures
Sofibanque is the 4th largest bank in the country with a balance sheet of over USD 1.1 billion.
The balance sheet almost doubled in 2022 and achieved an after-tax profit of USD 20.8 million. Sofibanque has 57 branches and representative offices throughout the country. It has 648 employees who put their skills at the service of 1262 corporate and private accounts, 127 corporate and public accounts, and nearly 55,375 individual accounts.
Vision on the development perspectives by 2024
Sofibanque has been present in Congo for 13 years. Its objective is to continue its development, notably through the expansion of its banking network throughout the Congolese territory.
Thus, it has expanded its activities in recent years through the opening of branches in Goma, Likasi, Boma and Moanda. By 2024, the priority is to conquer new markets in order to acquire a clientele from both the private and public sectors.
Position of the bank on the development of the DRC
Sofibanque integrates in its commercial strategy, elements that aim at reinforcing the accessibility to financing and the mobilization of investments in favor of large local companies, SMEs and entrepreneurs, in order to contribute more widely to the growth of the private sector.
The bank also participates in the financial inclusion of the population, notably by proposing adapted digital solutions, in collaboration with the country’s main mobile operators and new fintech players.
Finally, Sofibanque is partnering with the World Bank and the IMF to be at the heart of issues related to infrastructure development.
Henry Wazne and his background
Born in Monrovia, Liberia, Henry Wazne holds a master’s degree in law from the University of Nice Sophia Antipolis.
He has enabled the family business to take a new dimension in the Democratic Republic of Congo through the remarkable rise of Sofibanque. Since 2019, he has launched into insurance by creating with his partners, the SFA (Société Financière d’Assurance
