The financing of small and medium-sized enterprises (SMEs) and the situation of microfinance institutions were, inter alia, the items on the agenda of the first quarterly meeting of the National Credit Council of Congo, held on Monday 18 March 2019 in Brazzaville, under the auspices of Madame Minister of Planning, Statistics and Regional Integration, Ingrid Olga Ghislaine Ebouka-Babackas, representing her colleague of Finance and Budget, Calixte Nganongo. 

“Despite the economic downturn, the microfinance sector is doing well”,Michel Dzombala, National Director of the Bank of Central African States (BEAC) said, at the end of this meeting which was attended by the Governor of this institution, Abbas Mahamat Tolli. “Microfinance is part of the financial institutions, just like conventional banks and capital markets”, he said.

As regard the interbank market, participants noted that this sector is not dynamic. They encouraged BEAC to create conditions for reciprocal loans among the 11 banks established in Congo-Brazzaville. These banks, they noted, remained resilients, despite difficulties or shocks due to economic situation. They also welcomed the fact that the Treasury of Congo resorted to government securities market. 

The Press office of the Ministry of Finance