Kinshasa, May 5th, 2025(CPA)- The ‘AGORA 2’ project on the formalisation of small and micro-entrepreneurs was welcomed on Saturday by the Director General of the Insurance Regulation and Control Authority (ARCA) at the launch of the project in Kinshasa, the capital of the Democratic Republic of Congo (DRC), according to a press release received by the CPA on Monday. ‘The AGORA 2 project on the formalization of small and micro entrepreneurs, initiated by the Prime Minister and with which ARCA is associated is a strong signal. It marks the start of a new era, that of securing and perpetuating small and micro entrepreneurs, artisans and traders, who are non-negligible players in the advancement of our economy and whose activities were previously not covered by products because they were still operating mainly in the informal sector’, said Alain Kaninda, ARCA’s Director General. According to Mr Kaninda, the French insurance regulator is pleased to welcome the government’s vision of financial inclusion as an important lever for development, and is delighted to be contributing to it through an innovative micro-insurance product developed in close collaboration with the insurance companies licensed in the Democratic Republic of Congo. Thanks to an innovative micro-insurance product developed in close collaboration with licensed insurance companies in the Democratic Republic of Congo, these players will now be able to benefit from cover tailored to their needs. This pilot project, supported by Equity BCDC and Afrissur, is aimed primarily at 350 Congolese victims of the fires at the Liberty Market, the recent floods in Kinshasa and the damage at the Binza-Delvaux artisans’ site. These beneficiaries received bank cards and insurance policies, symbols of a new era of protection and access to finance.
Microinsurance is an insurance product designed specifically for people on low incomes or those who do not have access to traditional insurance systems. It aims to provide financial protection against various risks, including accidents, illness and other unforeseen events that could have disastrous financial consequences for the insured. In the context of the project, the aim is to design a micro-insurance product to cover the occupational risks identified, namely: fire, occupational accidents, theft, looting, flooding, death, etc. In partnership with the private sector, this programme will involve bringing together, in large towns and rural areas, people who currently work in the open air or in precarious conditions, without access to credit or any other form of support from the State, so that they can benefit from: legal recognition under simplified conditions; affordable services and training in commercial and financial management; access to credit and insurance.
This pilot project aimed at formalising small and micro-entrepreneurs in the informal sector was officially launched by Prime Minister Judith Suminwa.
This initiative, carried out in collaboration with the French insurance regulator (ARCA), is part of the commitments made by the Head of State for his second five-year term, with the aim of creating decent jobs, protecting purchasing power and promoting dignity at work. ACP/