In the Democratic Republic of Congo, a business plan competition (COPA) was launched on September 30 as part of the 2016 national strategy on the development of SMEs. The project led by the Ministry of Medium Classes, Small and Medium Enterprises and Handicrafts, in partnership with the Support Project for the Development of Micro, Small and Medium Enterprises (PADMPME), is supported by international initiatives including Deloitte Africa.
Here Is What You Need To Know
- The competition is focused on the overhaul of the local entrepreneurial system and access to finance for private sector companies, with the objectives of optimizing the national economy and contributing to the employment of the most vulnerable.
- According to the Minister of SMEs, Justin Kalumba, this initiative is an “effective rebirth of the entrepreneurial system” of the DRC.
- Micro, small and medium-sized enterprises in the formal and informal sectors of the cities of Matadi, Lubumbashi, Goma and Kinshasa are eligible for this program. The targeted MSMEs are those operating in industry, agrifood and any other activity with high added value on the employability of disadvantaged populations.
- The grant ranging from 15,000 to 75,000 USD will be awarded to 750 young people, 500 SMEs, and 2,500 women micro-entrepreneurs among the 4,500 who will receive training, with the expected result of an increase in the income of beneficiary SMEs and the creation of 9,000 jobs.
- The calendar provides for 4 cohorts over a 3-year period from September 2020 to June 2023.
Congo Business Plan Competition
To apply, click on this link: https://vc4a.com/padmpme/?lang=fr
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer