FPM SA and RAWBANK Sign a Financing Agreement Worth 3 Million

Kinshasa, September 16, 2021 – Firmly committed to financial inclusion in the DRC, Rawbank today signed a memorandum of understanding (MOU) for a financing line with FPM SA. The signing of the agreement took place in Kinshasa in the presence of Mr. Carlos Kalambay Kabangu, Managing Director of FPM SA, and Mr. Mustafa Rawji, Managing Director of Rawbank.

FPM SA, a fund dedicated to financial inclusion in the DRC, aims to reduce poverty and improve the living conditions of the Congolese population. Founded in 2015, FPM SA is a financial company licensed by the Central Bank of Congo in February 2015. Its shareholders, KfW (German Development Bank), BIO (Belgian Development Bank), Cordaid, and Incofin cvso, have provided it with a share capital of USD 23.4 million. FPM SA has also received financial support from the World Bank since 2016. The Fund has developed a credit portfolio of nearly USD 23.75 million for the benefit of 17 financial institutions in the DRC (banks, MFIs, and cooperatives).

FPM SA and Rawbank have maintained a relationship of trust for several years: together, the two institutions have entered into numerous partnerships, respectively amounting to USD 1.5 million in March 2018, USD 500,000 in 2019, and USD 3 million in 2021. To date, FPM SA’s total outstanding loans with Rawbank stand at USD 7 million, including USD 5 million outstanding and USD 2 million to be disbursed in the coming months.

The entire new financing line signed today will be dedicated to supporting Congolese micro, small, and medium-sized enterprises affected by the consequences of the Covid-19 pandemic. The launch of this partnership reflects the Bank’s commitment to supporting its clients during this difficult time.

“Rawbank is committed to always contributing to the stability and efficiency of the Congolese financial system. The relationship we have established with FPM SA over the past few years reflects the trust placed in Rawbank by national and international financial institutions. FPM SA and Rawbank share common goals to strengthen the dynamism of the Congolese economy, particularly to develop the SME sector, which offers numerous opportunities but whose true growth at the national level is still awaited,” said Mustafa Rawji, Managing Director of Rawbank.

Thanks to the trust placed in us by international partners, including the International Finance Corporation (IFC), a subsidiary of the World Bank, TDB, and the AfDB, Rawbank has become the leading partner of small and medium-sized enterprises in the DRC. The Bank has developed the Business Edge and Lady’s First training programs to build the capacities of entrepreneurs, facilitate their access to financing, and thus develop the local economic fabric.

About RAWBANK

With over 1,850 employees, more than 100 points of sale, a representative office in Brussels, 230 ATMs, over 400,000 customers, and a market share of over 28%, RAWBANK supports the development of the Congolese economy. Serving individuals, SMEs, businesses, and institutions, Rawbank is rated by Moody’s, ISO/IEC 20000 and ISO/IEC 27001 certified, and has established financing partnerships with several international lenders (IFC, BADEA, Shelter Africa, TDB, AfDB, Afreximbank, and AGF). Safety, profitability, and sustainability are Rawbank’s operational priorities to consolidate its growth strategy, particularly in relation to individuals and the private sector. Our extensive branch network is one of the most developed in the Congolese banking sector, located in all 19 provinces of the country, including Greater Katanga, Greater Kasai, the two Kivus, the Equator, and Kongo Central.

RAWBANK’s goal is to provide its corporate, SME, and individual clients with access to the most modern banking and financial technologies, services, and products, hence the relevance of its slogan: “RAWBANK is my bank.”