FPM

What FPM does

FPM (Fonds pour l'Inclusion Financière) is a Kinshasa-headquartered, dual-entity financial inclusion fund operating exclusively in the Democratic Republic of the Congo. FPM ASBL, institutionalized in 2010 as a non-profit association, delivers technical assistance, capacity building, market research, training, and financial education (the PEFD program) to financial institutions serving micro, small and medium enterprises (MSMEs) and low-income populations. FPM SA, created in 2014 and licensed by the Central Bank of Congo in February 2015, is the regulated commercial vehicle that provides medium- and long-term refinancing loans and partial portfolio guarantees (the Fonds GPP) to partner banks, microfinance institutions (MFIs), and savings and credit cooperatives (COOPECs).

Core products sit in three layers: (1) refinancing capital (senior and subordinated loans to financial institutions), (2) risk-sharing instruments (partial portfolio guarantees, including dedicated windows for women entrepreneurs and high-impact MSMEs), and (3) technical/advisory services (institutional strengthening, product development support, financial education). FPM does not serve retail end-customers directly; it operates a B2B institutional model intermediating between international development funders (KfW, FMO, BIO, Cordaid, Incofin, AFD) and the DRC's downstream financial sector.

FPM's revenue mechanics are anchored in net interest income from the loan portfolio (USD 54.7 million as of December 2025), guarantee fees on outstanding GPP coverage, and donor-funded technical assistance grants. As of December 2025, FPM reports a Net Banking Product of USD 5.9 million, total assets of USD 124 million, funds under management of approximately USD 120 million, and a net result of USD 2.2 million across 702 projects and 37 partner institutions since 2011. Distribution is direct and relationship-based, with no consumer-facing technology stack — its underlying infrastructure consists of financial management systems supporting loan origination, portfolio monitoring, and guarantee administration for institutional counterparties.

Name

FPM

Legal name

FPM (Fonds pour l'Inclusion Financière)

Website

https://fpm.cd

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

FPM is a DRC-based, dual-entity financial inclusion fund that provides refinancing loans, partial portfolio guarantees, and technical assistance to banks, microfinance institutions, and COOPECs serving MSMEs and low-income populations across the Democratic Republic of Congo.

Ownership category

akta.pro rank

Product category

Development Finance / Microfinance Refinancing

NAICS

Credit Intermediation and Related Activities (522), Depository Credit Intermediation (5221)

SIC

Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

SME, Microfinance & Financial Inclusion Facilities (BPADACAI)

akta.pro secondary industries

Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ), National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC)

Keywords

• Microfinance refinancing
• Portfolio guarantee services
• Financial inclusion
• MSME lending support
• Technical assistance

Headquarters

HQ city

Kinshasa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Refinancing Loans: FPM SA provides refinancing loans to financial institutions (banks, MFIs, COOPECs) in the DRC. Interest income from these loans constitutes a primary revenue stream.
2. Portfolio Guarantees: Partial portfolio guarantee lines (Garantie Partielle de Portefeuille - GPP) to help financial institutions hedge credit risk and increase lending to MSMEs. Revenue generated through guarantee fees.
3. Technical Assistance: FPM ASBL provides technical assistance services to financial institutions, supporting capacity building and product development for MSMEs and low-income populations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

FPM operates a dual-entity structure in the Democratic Republic of Congo: FPM ASBL provides technical assistance and capacity building to financial institutions, while FPM SA provides medium- and long-term refinancing loans and partial portfolio guarantees (Fonds GPP) to banks, microfinance institutions (MFIs), and savings and credit cooperatives (COOPECs) that serve micro, small, and medium enterprises (MSMEs) and low-income populations.

Product overview

FPM (Fonds pour l'Inclusion Financière) is a dual-entity financial inclusion fund operating in the Democratic Republic of Congo. The organization consists of FPM ASBL (institutionalized in 2010 as a non-profit association) providing technical assistance services, and FPM SA (licensed by the Central Bank of Congo in February 2015) providing refinancing and portfolio guarantee products. Together, they offer a comprehensive suite of financial inclusion solutions including medium/long-term refinancing, partial portfolio guarantees (Fonds GPP), and technical assistance to banks, microfinance institutions, and COOPECs serving micro, small and medium enterprises (MPMEs) and low-income populations. The organization also delivers financial education programs (PEFD), publishes market research studies, and provides training services to strengthen the DRC financial sector. In 2024, FPM launched specialized guarantee windows for women entrepreneurs and MSME impact financing.

Differentiator

Problem solved

Functional benefit

Brands

• Fonds GPP (Garantie Partielle de Portefeuille): Partial Portfolio Guarantee Fund managed by FPM SA, including dedicated windows for women entrepreneurs and MSME Impact Fund
• PEFD (Programme d'Éducation Financière et Digitale)
• PNEF (Programme National d'Éducation Financière)

Products and services

• Refinancing (FPM SA)
• Partial Portfolio Guarantee (Fonds GPP)
• Technical Assistance (FPM ASBL)
• Guarantee Fund for Women Entrepreneurs
• MSME Impact Fund
• Programme d'Éducation Financière et Digitale (PEFD)
• Market Studies
• Financial Sector Monitoring Reports
• Training Programs

Quantifiable outcome

• Portefeuille de prêt: 54,7 millions USD (December 2025)
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered major and minor.

• FSRDC (Fonds de Soutien aux Activités des Micro, Petites et Moyennes Entreprises et de l'Agriculture)majorStrategic or Co-development Partner · 12 September 2024Partnership to fund youth and women agripreneurs in the DRC, combining resources for financial inclusion in agriculture.
• PAIDEK SAmajorStrategic or Co-development Partner · 13 July 2024USD 1.525 million loan over 4 years plus USD 2.070 million guarantee line. Major MFI in Kivu with 9 branches (3 in Nord Kivu, 6 in Sud Kivu).
• SMICO SAmajorStrategic or Co-development Partner · 12 July 2024USD 4.85 million loan over 4 years plus USD 7 million partial guarantee line to boost MSME lending in Kivu region, serving 8,000+ borrowers including 7,000 MSMEs.
• TUJENGE PAMOJA SAmajorStrategic or Co-development Partner · 12 July 2024USD 1 million loan over 3 years to boost MSME lending in Kivu. Institution established in 2007 with USD 1,335,000 capital, serving MSMEs and salaried workers.
• BAOBAB RDC SAmajorStrategic or Co-development Partner · 26 June 2024Total credit exposure of USD 5.9 million with 4-year maturity. Part of Baobab Group (formerly Microcred) present in Kinshasa, Kwilu, Lualaba, Haut Katanga, and Sud Kivu.
• VISAmajorStrategic or Co-development Partner · 24 April 2023Partnership for Financial and Digital Education Program (PEFD), continuation of National Financial Education Program (PNEF) established by Central Bank of Congo in 2016.
• ÉLAN RDCminorStrategic or Co-development Partner · 1 November 2020Partnership to provide technical and financial support to face COVID-19 crisis consequences for financial institutions.
• RawbankminorStrategic or Co-development PartnerPartnership agreement for financial inclusion in the DRC.
• CAMEC INKISIminorStrategic or Co-development PartnerStrategic partnership for financial inclusion in Kongo Central province.
• COOPEC CAMEC MBANZA NGUNGUminorStrategic or Co-development PartnerTechnical assistance agreement to strengthen financial inclusion in Kongo Central.
• CRDB Bank DR CongominorStrategic or Co-development PartnerTechnical assistance agreement to strengthen SME financing in the DRC.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Symbiotics SA: Symbiotics originates, structures, and invests in microfinance and SME portfolios across emerging markets. Comparable as a financial-institution-facing intermediary in the MFI refinancing value chain.
• BlueOrchard Finance: BlueOrchard is a leading impact investment manager originating loans to microfinance institutions and SMEs in emerging and frontier markets. Direct competitor for MFI refinancing mandates in Sub-Saharan Africa.
• responsAbility Investments AG: responsAbility provides debt and equity financing to financial institutions serving low-income populations and MSMEs across emerging markets. Comparable MFI/SME refinancing mandate and product set to FPM.
• Oikocredit: Oikocredit is a cooperative providing loans and equity to microfinance institutions and SMEs in developing countries. Comparable mission, product set (MFI refinancing + capacity building), and shareholder base to FPM.
• European Fund for Southeast Europe (EFSE): EFSE provides medium and long-term refinancing and guarantees to local financial institutions serving MSMEs in Southeast Europe. Closely mirrors FPM's refinancing-plus-technical-assistance model under DFI sponsorship.
• Incofin Investment Management: Incofin is a global impact investment manager focused on inclusive finance and smallholder finance, and is also an FPM shareholder via Incofin cvso. Highly comparable fund-management activities.
• Microfinance Enhancement Facility (MEF): MEF is a refinancing and guarantee vehicle for microfinance institutions across emerging markets, funded by development banks. It is highly comparable to FPM's dual refinancing + partial portfolio guarantee model targeting MFIs.

Broad incumbents

• FMO (Dutch Entrepreneurial Development Bank): FMO is a major Dutch DFI that provides direct financing to financial institutions in emerging markets and is also an FPM shareholder. Operates at a larger scale and broader mandate but overlaps directly with FPM's refinancing activities.
• BIO (Belgian Investment Company for Developing Countries): BIO is a Belgian DFI investing directly in financial institutions and SMEs in developing countries, and is an FPM shareholder. Broader portfolio but directly competes for the same MFI refinancing opportunities.

Regional players

• ProCredit Holding: ProCredit is a group of development-oriented banks serving SMEs in Eastern Europe, the Caucasus, and Latin America. Comparable SME-focused banking model that could be replicated in DRC, though operates outside FPM's geography today.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fpm-asbl
• Xx.com/fpm_rdc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FPM