Government-led financial inclusion strategy
For more than a decade, the Republic of Congo has sought to translate its hydrocarbon revenue into broader economic opportunities. The recent decision by the Fonds d’Impulsion, de Garantie et d’Accompagnement to extend loans to 159 young artisans and traders in Dolisie fits into this larger policy canvas. Established in 2020 under the aegis of the Ministry of Small and Medium-Sized Enterprises, the Figa was designed as both a credit window and a risk-sharing mechanism, echoing recommendations made by the World Bank on the need for blended finance to reach informal entrepreneurs (World Bank, 2021).
By filtering 159 dossiers from a pool of 856 applicants, the fund applied a selection protocol modelled on the African Development Bank’s youth-focused screening grid, privileging formalised business plans and demonstrable market demand (AfDB, 2022). Officials insist that such rigour protects public resources while giving first-time borrowers a structured pathway into the formal banking system.
Microfinance partners and the Kolisa model
Operationally, Figa acts less as a classic lender than as a catalytic guarantor. The actual disbursements in Dolisie were channelled through partner institutions, chiefly the Financement des Initiatives de Développement Économique au Congo, whose Kolisa product has been praised by the UN Capital Development Fund for its adaptive repayment schedules (UNCDF, 2023).
According to Branham Kitombo, the fund’s director-general, the ticket size—kept confidential for competitive reasons—was calibrated to remain below the regional average of XAF 2.5 million, thus minimising over-exposure. Borrowers sign a tripartite contract that links them, the micro-finance partner and Figa’s monitoring unit, which can recommend technical assistance or a grace period when market volatility arises.
Youth entrepreneurship at the heart of diversification
Dolisie, often dubbed the ‘commercial lung’ of the Niari department, sits astride the Pointe-Noire–Brazzaville corridor. The city’s demographic profile—over 65 per cent under thirty, according to the last census—makes it a strategic laboratory for youth-led diversification. Minister Jacqueline Lydia Mikolo, whose portfolio covers both SMEs and artisanat, argued during the cheque-hand-over ceremony that supporting idea incubation ‘from vision to financing’ is indispensable if Congo is to meet its 2025 National Development Plan targets.
Independent observers note that the government’s stance is consistent with trend data: the International Labour Organization places youth unemployment at roughly 20 per cent nationally, yet micro-enterprise survival rates climb above 70 per cent where seed capital exceeds XAF 1 million. Figa’s intervention, though modest in absolute terms, thus occupies an important niche between grant-based start-up programmes and full commercial bank exposure.
Safeguarding fiscal discipline and social cohesion
In a country still navigating post-pandemic debt consolidation, the decision to expand subsidised credit inevitably raises questions of fiscal prudence. Pierre Mabiala, Minister of Land Affairs and Relations with Parliament, openly addressed the issue in Dolisie, warning beneficiaries that ‘the franc CFA received is not leisure money’. His admonition resonates with the Central African Economic and Monetary Community’s recent directive urging member states to tighten oversight of public guarantee schemes.
Political analysts in Brazzaville say the messaging reflects a broader strategy by President Denis Sassou Nguesso’s administration: pairing social support with personal responsibility to preserve macro-economic stability. Early repayment data from the first 85-beneficiary cohort in April indicate a delinquency rate below 3 per cent, well under the continental micro-finance average of 6 per cent recorded by the MIX Market database.
Regional ripple effects beyond Niari
Though the latest tranche targets Niari, Figa’s management confirms that comparable pipelines are under review for the Cuvette and Plateaux departments, areas where artisanal agriculture and timber transformation could benefit from small-ticket capital injections. The Congolese Chamber of Commerce anticipates that by 2024 total beneficiaries may exceed 1 500, potentially creating up to 4 500 direct jobs, a figure aligned with UNDP’s modelling of youth-enterprise multipliers in low-middle-income economies (UNDP, 2022).
Diplomatic missions in Brazzaville are paying close attention. One European trade counsellor privately observed that the scheme ‘provides a testing ground for joint ventures once these micro-firms scale’, while a representative of the African Export-Import Bank hinted that a regional credit-enhancement facility could be envisaged if repayment performance remains strong.
Against the backdrop of external shocks—from crude price swings to supply-chain disruptions—the quiet boom initiated in Dolisie illustrates Congo’s nuanced approach: mobilising domestic resources, leveraging technical partnerships and embedding accountability. If the model endures, Niari’s newly financed tailors, caterers and digital service providers may well become the ambassadors of a more diversified Congolese economy.
