From Access to Impact: Rethinking Financial Inclusion for SMEs in the Democratic Republic of Congo

De l’accès à l’impact: réinventer l’inclusion financière des PME en République démocratique du Congo

Randy Kambana
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Randy Kambana: Université catholique du Congo

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Abstract: This paper investigates the effectiveness of financial inclusion strategies targeting small and medium-sized enterprises (SMEs) in the Democratic Republic of Congo (DRC). Using panel data from four major commercial banks (Rawbank, Equity BCDC, First Bank DRC, and TMB) between 2018 and 2023, the study combines econometric modeling and policy analysis to evaluate whether increased access to credit translates into structural empowerment for SMEs. Results show that while access has expanded, deep barriers persistparticularly high collateral requirements and weak regulatory enforcement. The paper finds that strong regulatory compliance and product innovation significantly improve SME credit outcomes. It concludes with concrete policy recommendations to foster transformative financial inclusion in fragile economies.

Keywords: econometric analysis; Corporate Finance and Governance L26 -Entrepreneurship O55 -Africa Financial inclusion; Saving and Capital Investment; Mortgages O16 -Financial Markets; Micro Finance Institutions; Depository Institutions; G21 -Banks; regulatory compliance; institutional barriers; credit access; banking sector; Democratic Republic of Congo; SMEs; G21 -Banks Depository Institutions Micro Finance Institutions Mortgages O16 -Financial Markets Saving and Capital Investment Corporate Finance and Governance L26 -Entrepreneurship O55 -Africa Financial inclusion (search for similar items in EconPapers)
Date: 2025-07-26
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-05188515

DOI: 10.2139/ssrn.5341865

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