Q/ Where did the idea for FOGEC come from?
From the Head of State, to whom I send a message of encouragement given the concerning security situation. He understood very early on that it was essential to support Congolese entrepreneurs, because the economy remains largely dominated by foreign operators, particularly in the mining sector. We know that mining resources are not eternal. It was therefore necessary to think about diversifying the economy and preparing for the post-mining era. This required the development of a solid national entrepreneurial fabric, driven by Congolese people. But a major obstacle hindered this ambition: access to financing. Congolese entrepreneurs had, and still have, excellent ideas and viable projects, but very few guarantees to present to financial institutions. The Head of State considered it necessary to create a mechanism capable of bridging this guarantee deficit, which is the Guarantee Fund for Entrepreneurship in Congo (FOGEC).
Q/ Is the system fully functional today?
The needs remain considerable, and the work in progress is gradual. Before FOGEC, access to credit for SMEs and micro-enterprises was almost non-existent, due to a lack of formalization and banking inclusion. Since its implementation, FOGEC has enabled many entrepreneurs to access bank financing for the first time, under unprecedented conditions: interest rates around 5%, three-year maturities, and grace periods. The Fund is not intended to solve all difficulties in a few years, but to trigger a lasting structural change.
Q/ Is FOGEC faithful to the initial presidential vision?
FOGEC was never designed as a short-term instrument linked to a political cycle, but as a long-lasting tool for economic transformation. Five years after its creation, a shift has begun: where the system was blocked, a structuring mechanism now exists. In the long term, FOGEC is called upon to become one of the sustainable levers of the Congolese economy.
Q/ There is a misunderstanding about how your institution works, which some confuse with a bank…
The confusion is common and understandable. Unlike a bank that collects savings and directly grants credits, FOGEC does not collect savings. It acts as a guarantor, thereby facilitating the granting of loans by banks. Without a guarantee, many projects would never have been financed. The guarantee is therefore an essential indirect financing lever. If FOGEC were to become a bank, we would have to recreate… a guarantee fund. That would make no sense.
We cater to Congolese entrepreneurs engaged in an economic activity that generates income and jobs. This includes the bread seller, the shoe shiner, the independent journalist, as well as the structured business leader. However, we do require a minimum level of formalization. The entrepreneur must be registered, notably with the DGI (General Directorate of Taxes) or via the single window. The DNA of FOGEC is service to the Congolese entrepreneur; they are our priority, at the center of everything.
Q/ Which successes are you most proud of?
The most tangible result is the effective access of Congolese entrepreneurs to bank credit. Since 2020, FOGEC has helped mobilize over $3.2 million in financing for entrepreneurs. This amount remains below the country’s actual needs; it is a first step. These funds were granted after rigorous analysis and strict processing of the files sent to partner banks. To date, over 125 entrepreneurs have benefited from this mechanism for a volume of approximately $2.8 million.
The portfolio product, implemented in partnership with SMICO, has enabled over 40 entrepreneurs to access financing totaling $186,000. Some entrepreneurs received support in the form of subsidies, a product temporarily suspended since 2023 but scheduled to be relaunched. FOGEC has also invested in awareness, financial education, training, and outreach campaigns for over 300 projects since its creation.
Q/ Is FOGEC’s lack of visibility a hindrance?
The initial low communication was intentional, due to limited financial resources. It would have been counterproductive to encourage an influx of applications without the capacity to process them. Since the regularization of the subcontracting fee in 2025, FOGEC’s operations have stabilized. Three complete cohorts have been financed, and a fourth, highly qualitative one, includes over 100 entrepreneurs for a credit volume exceeding $1.8 million.
Q/ What is the true scale of the needs?
According to the World Bank, the financing needs of Congolese entrepreneurs reached $9.7 billion in 2017. FOGEC is not meant to be the sole financier. An annual volume of $100 to $150 million would already make it possible to meet a significant share of the demand. With only 25 agents, we operate thanks to a committed and motivated staff. Some entrepreneurs have already fully repaid their loans and are now accessing higher amounts, illustrating a progressive scaling effect.
Q/ Are there financing ceilings?
Initially set at $50,000 per project, the ceiling was raised in September 2025 to $300,000 for strategic projects with high economic impact, by decision of the Board of Directors.
Q/ How are accusations of favoritism handled?
FOGEC operates based on objective, documented, and traceable criteria. No funding is granted without prior analysis. Zero tolerance for corruption is clearly affirmed, with internal control and sanction mechanisms in place.
Q/ How is the risk of non-repayment managed?
Risk is an integral part of FOGEC’s mission, but it is managed through a rigorous analysis of projects: profitability, management capacity, formalization, and history. The criteria have been strengthened over the cohorts to better secure public funds.
Q/ What operational developments are underway?
Eligibility criteria are now public. Application submissions can be made physically, online, or via institutional partners. A digitization process is underway, complemented by the planned opening of eight provincial offices by 2026. Strategic thinking now integrates logistical, energy, and market access challenges.
Q/ What is the place of innovation and social entrepreneurship?
The main challenge remains the bankability of innovative projects, often led by profiles who are technically competent but insufficiently equipped economically. FOGEC supports these projects provided a viable economic model is demonstrated, sometimes after a preliminary structuring phase.
Q/ What budget would allow for a change of scale?
An annual budget of $30 million would constitute a threshold of efficiency. Between $40 and $50 million, the impact would radically change scale, similar to comparable experiences in the sub-region.
Q/ How will these resources be mobilized?
The levers include the Public Treasury, special accounts, as well as structuring partnerships with financial and microfinance institutions. Major portfolios are under discussion with several banks, potentially representing hundreds of millions of dollars.
Q/ Concretely, what will change in access to financing?
Digitization is at the heart of our strategy. We have developed a platform called “BOKELI,” designed to help entrepreneurs structure their projects and prepare standardized business plans. This standardization saves us precious time in analyzing applications. The platform also offers complete traceability of the process: the entrepreneur is informed at every step: appointment scheduling, review by the credit committee, validation by the Board of Directors, transmission to the IGF (General Inspectorate of Finance), and then to the bank. The process is demanding and sometimes long, but it is necessary. Procedures are not a hindrance: they are a protection, both for the State and for the entrepreneurs.
Q/ What are the ambitions for 2030?
FOGEC aims to become a lasting reference for entrepreneurial support in the DRC, contributing to the emergence of true national economic champions. The goal is not only quantitative but transformational: sustainable businesses, creating jobs, and capable of raising significant capital.
M&B
