Smico SA

Context :

The Democratic Republic of Congo (DRC) has two-thirds of Africa's tropical forests, a rich subsoil, and significant hydroelectric potential. The economy has been plagued by political conflict for the past two decades. After achieving the third-fastest growth rate in the world (10.5 billion yen) in 2014, the economy is slowing, mainly due to rising inflation and falling export prices. In 2021, the economy grew by 4.9 billion yen. This was largely due to a recovery in the mining sector after a pandemic-related slowdown the previous year.

The company:

SMICO SA (Société Congolaise de Microcrédit) is a microfinance institution in the Democratic Republic of Congo, headquartered in Goma, North Kivu. Founded in December 2009 by Belgian-Congolese shareholders, SMICO's annual profit has averaged between 300,000 and 800,000 $ since 2018. At the end of 2021, SMICO had 93 customer service representatives, $15 million in savings, and $14.3 million in loans.

Impact :

Led by Michel Verwilghen (Chairman of the Board of Directors), this microfinance company aims to facilitate access to financial services for low-income producers (traders, farmers, artisans) who are excluded from the traditional banking system.