Technical assistance for effective operationalization of the Economic Impulsion, Guarantee and Coaching Fund for the MSMEs in the Republic of Congo
Belgian Bankers Academy has been entrusted by the Ministry of MSMEs of the Republic of Congo with this contract aiming to provide technical assistance in order to make operational a MSME fund for economic impulsion, guarantee and coaching called “FIGA-PMEA” for improving access to finance for MSMEs.
The funds for this integrated mesofinance mechanism is organised around the setting-up of three complementary funds:
• An Impulsion Fund that provides grants to be given to entrepreneurs depend on the project and the needs, ensuring the creditworthiness of the demand/the need for coaching projects in the financial technique field (especially the drafting of business plans and “bankable” financial plans) mainly;
• A Guarantee Fund that enables the financial institution to cover a part of its own risk.
• A Coaching Fund that provides grants to be given to entrepreneurs depend on the project and the needs ….;
FIGA PMEA is expected to help MSMEs in the Republic of Congo to overcome their main problems in access to finance:
• Low level of technical knowledge needed for the development of a business plan and/or a financial plan that could arouse the interest of a financial institution;
• The lack of own funds;
• The insufficiency of guarantees.
Setting-up the fund and making it operational involves work with multiple stakeholders in the Republic of Congo such as the Ministery of MSMEs, the MSME Development Agency, National Agency for Crafts, Chambers of Commerce, Banks, IMF and others.
The project is divided in 3 phases as follows:
Phase 1 – Inception Phase
• Assessment of the existing institutional, functional, infrastructural and regulatory environment for the operationalisation of the fund.
• Preparation of a plan for starting the activities of the FIGA-PMEA fund, including development of matrix of the Guarantee and Choaching fund for MSMEs.
Phase 2 – Operational Phase
• Preparing a business plan of FIGA-PMEA;
• Support the beneficiary in defining the strategic priorities of FIGA-PMEA, specifically the economic support policy for MSMEs and the business enabling environment, the guarantee, MSME support, partnerships and communication;
• Technical assistance for setting-up the decision-making and operational governance of the fund FIGA-PMEA
• Carry-out detailed analysis of the available ressources and the needs, prepare job descriptions and organizational chart of the fund.
• Prepare the manuals of procedures
• Support the fund by preparing its management information system (MIS), HR policides (definition of profiles, recruitment & benefits, plans, training plans, …) and budget
• Assist the department in charge of business plans analysis of MSMEs and providing support to MSMEs including training
• Maintain the relationship with the Private Sector Federation, incubators, accelerators, Chambers of Commerce and other MSME support institutions;
• Support FIGA-PMEA in defining its communication plan
Phase 3 – Supporting phase
• Support FIGA-PMEA in the day-to-day management and management of its operations and resources
• Support FIGA-PMEA in the development of its techical and financial partnerships at both national and international, bilateral and multilateral levels.
• Provide recommendations for strengthening the capacities and operational efficiency of FIGA-PMEA.
• Prepare annual evaluation reports of economic and social impact of the FIGA-PMEA fund.
Status : Ongoing
Date : 07-2020 -> 01-2025
Countries : Congo [Republic]