FUNDED: Microdev provides micro loans to female entrepreneurs

MicroDev is a cooperative partnership under Congolese law that focuses on providing micro-loans to female entrepreneurs.  It was founded by Bijou Tshiunza, who is a shareholder, along with family and friends. The day-to-day management of the micro-loan institution is in the hands of a local micro-finance expert.
 
Already collected € 44.000
Searched budget € 44.000
Location
Ngaliema, Kinshasa, DR Congo
Project duration
2018 - 2020
Project code
F5
Theme
Financiering
Providing small amounts of money makes a world of difference when it comes to combating poverty

MicroDev is a cooperative partnership under Congolese law that focuses on providing micro-loans to female entrepreneurs.  It was founded by Bijou Tshiunza, who is a shareholder, along with family and friends. The day-to-day management of the micro-loan institution is in the hands of a local micro-finance expert.
 

The business project

 
Microdev’s plan is to grant short-term loans equivalent to between $50 and $200 to female entrepreneurs. The micro-loans are in a mix of USD and CDF. These loans enable women to develop their small enterprises. They are able to buy foodstuffs from farmers and then sell it at the market. The women granted the loans must be able to demonstrate that they have the necessary experience in-house. The business is based in Ngaliema, the second largest district in the capital Kinshasa. The district has more than 750,000 inhabitants, along with various commercial centers and markets. Microdev is aiming to break even in the first year. 
 
 

Why OVO believes in this project

 
There’s no question that a credit institution has a major socio-economic impact. It directly creates money that is spent on micro-businesses and so boosts the income of the market vendors. What’s more, no micro-loan institution is operating in this district of Kinshasa as yet. Bijou Tshiunza originates from Kinshasa and works at the BNPP bank in Brussels. She is extremely keen to do something for Congo and after an assignment to Africa she came up with the idea of providing funds to combat poverty in an inclusive manner.
 

Investment sought

 
The start-up budget for this project is USD 70,000. The external funding via OVO is USD 50,000 (EUR 44,000). The own contribution is USD 20,000. The OVO funding is fully insured and will be spent on awarding the loans. The own investment will primarily be spent on the start-up investments. The loan of EUR 44,000 will be paid back over six years at an interest rate of 7 percent. Funding has been secured thanks to the contribution of Rotary Club Beveren and Bettie Elias. The OVO Acceleration Fund deposited 9,000 euros for Microdev.  

Statement

 
By providing micro-loans for female entrepreneurs, Microdev is adding major value to help solve the problem of poverty in the DRC. The project is backed by a highly motivated initiator.