DRC: Merged equity BCDC bank may lend $40 million or even $350 million to a customer

The merged equity BCDC bank is officially launched, this Thursday, February 11, 2021, at the BCDC premises, on the boulevard of June 30, in the commune of Gombe. 

Unveiling its logo, Congolese Portfolio Minister Clement Kwete Nyimi Bemuna said the merged bank is able to immediately give a $40 million or even $350 credit to a customer.

" Equity BCDC can lend up to $40 million to a single customer immediately. With the group's contribution, it can happen up to $350 million. I therefore invite Congolese companies to take advantage of this opportunity to develop their activities and expand," he said.

The Minister of The Portfolio took this opportunity to

express its wish to see this merger that allows the Equity Group to become a majority shareholder within the BCDC to make a significant contribution to improving financial inclusion in the DRC. 

Speaking on this occasion, Equity Group Holding boss and BCDC Equity Board member James Mwangi promised to work to achieve DRC's financial inclusion.

"We will be the big bank for the mining sector, for private banks and industries. We will also be the bank for the middle-class banks that are creating opportunities for our peoples. Above all, we will be the bank of every Congolese who has a dream that he would like to fulfill through financial support. We will be a place of safety for everyone's money, ready to work with anyone who wants to be the champion of change and development," he said.

In his words, former BCDC CEO Yves Cuypers introduced members of Equity BCDC's Board of Directors, including the latest Equity Bank Congo CEO Célestin Mukeba, Equity Holding Group CEO Dr James Mwangi and mining company Louis Watum.

Interviewed at the end of the ceremony, Célestin Mukeba ar
gued that with this merger, Equity BCDC is now the second largest bank in the DRC with a balance sheet of $2.5 billion. 

According to this, this merged bank has a national presence of 74 branches, 214 ATMs, 13 dedicated local offices, 3055 bank agents and nearly one million customers.