Digital finance discussion platform launched
Representatives from banks, microfinance institutions, savings and credit cooperatives, Mobile Network Operators (MNOs) and the central bank of Congo participated in the kick-off. The aims of the platform are to identify key market and regulatory constraints that prevent the development of digital credit and savings products in DRC and propose solutions to address them through a consultation process with all relevant market players and regulatory bodies.
Based on a short survey conducted after the kick-off and feedback received from participants, the following three key priority topics have emerged:
How to improve access to USSD code for all market players with interest in developing digital finance products in the DRC?
How to improve the client identification and streamline Know Your Customer requirements between Telecom companies, mobile money providers and credit institutions in the DRC?
How to enable interoperability between Mobile money providers and credit institutions in DRC?
Three separate technical workshops were scheduled to be held in June and July on these respective themes. The first took place on June 14th on the USSD Code topic.
The digital discussion platform is a direct response to the demand of our direct partners in the digital finance space and all other market participants at large that are not partners of the program. It is also a key recommendation of the study that ELAN conducted on digital credit in November 2018.