The FPM ASBL, represented by its Managing Director, Mr. Jean-Claude THETIKA, signed, this Friday, January 27, 2023 in Kinshasa, a technical assistance contract with the microfinance company Trust Investment Development, TID SA in acronym, represented by its Managing Director, Mr. Alfred SIVIRI.
Through this technical assistance partnership, the FPM ASBL aims to support the TID in improving its service offer for Micro, Small and Medium-sized Enterprises (MSMEs) and small earners in order to promote the financial inclusion of people. excluded from the traditional banking system in the city of Butembo in particular and in the eastern region of the DRC in general.
The Managing Director of FPM ASBL explained the meaning of his support to TID.
“TID plays a very important role in Butembo. It is an institution created with a very clear vision of supporting local entrepreneurship. We thought it was important to be able to support them. 2023 remains the year for the deployment of new strategies of the FPM”, declared Jean-Claude Thetika.
For his part Alfred Siviri, Managing Director of SMF TID SA welcomed the partnership signed with the FPM. He also mentioned the particularity of the company TID SA.
“Through this partnership, we must be able to answer all questions that come from customers. The particularity of our company is that it supports micro, small and medium-sized enterprises by giving them the chance to have credit and ‘have a financial education,’ he meant.
It should be noted that this partnership is expected to achieve the following objectives: (i) strengthen the governance system of the TID and help it acquire an organizational structure that corresponds to its growth ambitions; (ii) recalibrate the value proposition through a more attractive product offering for the target clientele in order to improve the institution’s positioning in the various areas of activity; (iii) standardize the approach to collecting and using financial information for decision-making; and (vi) strengthen the means of risk management in order to better control all the risks inherent in the growth of activities, especially since the institution operates in a complex environmental context.
Created in 2013, the microfinance company Trust Investment Development, TID SA, aims to be a local institution that offers innovative and adapted financial services to micro entrepreneurs and small earners, to promote the socio-economic development of urban centers and rural areas in the eastern part of the DRC. Demonstrating strong resilience, the TID deploys its offer through four branches, in North Kivu and in Ituri, a region marked by ten years of security and health crises, of which it has good control.
As a reminder, the FPM, Fund for Financial Inclusion in DR Congo, is a fund that contributes to poverty reduction in DR Congo by promoting the development of a sustainable offer of financial services accessible to Micro, Small and Medium Enterprises (MSMEs) and low-income populations.
To achieve this, the FPM relies on financial institutions, to which it grants technical assistance services and funding. Technical assistance services include the following areas: – Direct technical assistance (for the benefit of partner financial institutions); – Forums and training for Congolese financial market professionals; – Market studies aimed at improving financial inclusion.
Jordan MAYENIKINI
