• Pilot to expand SME financing via crowdfunding

• Project introduces crowdlending, investing to address limited bank credit

• FOGEC to guarantee funds, support investors and platform development

The Democratic Republic of Congo is seeking to expand financing options for small businesses and startups. On March 24, 2026, Justin Kalumba Mwana-Ngongo, minister of entrepreneurship and SME development, signed a ministerial order regulating the rollout of a pilot project for alternative financing, signaling a move from planning to implementation.

The initiative implements Ordinance-Law No. 22/030 of Sept. 8, 2022, which establishes crowdfunding, crowdlending and crowdinvesting as financing instruments for businesses.

"The financing system remains largely dominated by microfinance and poorly suited to the needs of growth-stage SMEs," the minister said. Several studies back this assessment. Bank credit in the DRC represents only about 7% of GDP, compared with an average of more than 45% across sub-Saharan Africa, according to a 2019 report by FINACTU.

A 2024 World Bank survey found that companies remain heavily reliant on their own resources, with 84% of investments financed through internal funds, compared with just 8% from the banking sector. The same survey showed that access to credit varies significantly by company size: only 6% of small businesses hold a bank loan, compared with 18% of medium-sized firms and 51% of large ones.

In this context, the pilot project aims to facilitate access to capital for young companies, diversify financing sources and develop an ecosystem of local and international investors, including members of the diaspora.

FOGEC at the Heart of the Initiative

The program is built around two main pillars: participatory financing platforms and business angel investment. Crowdfunding allows entrepreneurs to raise funds from a broad public through digital platforms, while business angels provide not only capital but also expertise and networks.

In the DRC, the market is still underdeveloped, primarily due to the absence of a clear regulatory framework. A 2025 Deloitte study identified the legal gap as a major obstacle and recommended "the establishment of clear rules to protect investors and regulate platforms." The pilot project aims to address those barriers by testing an operational framework before any national rollout.

The Fonds de garantie de l'entrepreneuriat au Congo, known as FOGEC, is central to the project. The public institution is expected to serve as a trusted intermediary between entrepreneurs, investors and regulators. In practice, FOGEC will partially guarantee financing to reduce risk for investors, structure and validate projects, and coordinate with the central bank and financial partners, including the diaspora.

For FOGEC, innovative financing represents "an opportunity to mobilize local and international savings for the benefit of SMEs." The Congolese financial system has low financial inclusion: only 12% of adults hold a bank account, and more than half the population is excluded from formal financial services.

The success of the project will depend on several factors, including the effective establishment of the platforms, investor confidence and, above all, FOGEC's capacity to ensure secure operations and develop the ecosystem.

Pierre Mukoko & Ronsard Luabeya, with Bankable