Making Access Possible (MAP) is a multi-country initiative to support financial inclusion through a process of evidence-based country diagnostic and stakeholder dialogue, leading to the development of national financial inclusion roadmaps that identify key drivers of financial inclusion and recommended action. The MAP methodology and process has been developed jointly by UNCDF, FinMark Trust (FMT) and the Centre for Financial Regulation and Inclusion (Cenfri) to foster inclusive financial sector growth.
MAP DRC has been funded by FinMark Trust and UNCDF in partnership with the United Nations Development Programme (UNDP) and the Belgium Cooperation. It has been rolled out under the guidance of the MAP Coordinating Committee, chaired by the DRC Ministry of Finance, and including representatives from the Ministry of Finance, the Central Bank, the National Statistics Agency, selected financial service providers (FSPs), industry associations, development agencies and donors.
The DRC is emerging from decades of conflict. Add to this, severe infrastructure constraints and a vast and difficult-to-navigate topography. Almost half of all adults live in deep rural areas where they are all but cut off from the outside world. Only 7% of the population is formally employed. The rest make a living in the informal sector. Poverty is widespread, with 53% earning less than USD 3.30 per day.
The 2015 Human Development Index, which measures the annual rankings of national achievement in health, education and income, ranked DRC 179 out of 189 countries (UNDP, 2015). The DRC is plagued by high infant mortality rates, low life expectancy and a high disease burden. Most hospitals are inadequately staffed and equipped. Access to basic education is limited. In 2012, the World Bank estimated that the adult literacy rate in the DRC was 75%.
The majority of Congolese are financially stressed. 71% of FinScope respondents reported the necessity to “often” or “sometimes” go without food or medical treatment, or have to take children out of school. In rural areas, that figure rises to 79%. More than 45% report not having enough income, whilst approximately 30% report irregular or unreliable income as problematic.
In 2016, the MAP DRC team presented their analysis and recommendations on the financial inclusion environment in DRC to the Ministry of Finance, Central Bank, National Statistics Agency, selected financial service providers, industry associations, development agencies and donors. These included a stakeholder presentation, diagnostic report and a roadmap for financial inclusion in DRC.
- Click here to download the country stakeholder presentation in English (PDF, 1.46 MB)
- Click here to download the country stakeholder presentation in French (PDF, 1.67 MB)
- Click here to download the roadmap in English (PDF, 1.68 MB)
- Click here to download the roadmap in French (PdF, 1.93 MB)
- Click here to download the full country diagnostic report in English (PDF, 3.85 MB)
- Click here to download the full country diagnostic report in French (PDF, 3.89 MB)
Financial inclusion can help manage deprivation. People face many risks and financial shocks that reinforce the poverty cycle. Financial services can help to manage these shocks to smooth and grow income. It can also help people build assets, transact and live their financial lives more efficiently.
Effective financial systems can fuel real economy impacts at the macroeconomic level by mobilising savings for investment purposes, reducing transaction costs and increasing efficiency, thereby contributing to employment generation and growth. At the household level, financial inclusion can impact people’s welfare directly by reducing their transaction costs, enabling them to more efficiently manage risks, allocating capital for productive use and supporting the accumulation of wealth over time.
Financial services can also facilitate access to core services, such as health or education. This can impact growth directly, by triggering service sectors, as well as indirectly, by enhancing productivity.