OXUS RD Congo engaged in a innovative partnership with CFC in DR Congo

OXUS RD Congo, microfinance institution and Compagnie Financière du Congo, the leading Western Union provider in the Democratic Republic of Congo, engage in an innovative partnership to facilitate access to loan repayments for Congolese people.

OXUS RD Congo and Compagnie Financière du Congo (CFC) have just launched, an innovative service allowing OXUS customers to repay their loan installments at CFC branches. This partnership is key to OXUS development strategy in the DRC: OXUS opened its first cashless branch in the Victoire neighborhood in Kinshasa on July 13th 2016.

« The cashless branch is a new concept designed by OXUS for its clients. We wanted to improve proximity through geographic development, while creating an innovative model allowing us to gain in efficiency and to focus on our core business: providing access to customer-centered financial services; only steps away from where our clients live and do business.” states Oliver HESCH, OXUS DRC’s Chief Executive Officer.

The cashless branch focuses on OXUS core business: delivering customer-centered financial services

With twenty loans officers, supported by administrative staff and receptionists, attending to the needs of clients in Kasa Vubu, Kalamu, Kinshasa, Lingwala and Barumbu neighborhoods in the city of Kinshasa, the cashless branch works as a traditional microfinance branch. The only difference is that there are no tills in this point of sale, because cash transactions may be carried out at CFC, who owns the largest money transfer network in the DRC, with 150 branches throughout the country, including 80 in Kinshasa.

One of the largest loan repayment networks in the DRC

The repayment service at CFC branches is not limited to the cashless branch clients and can be used by all OXUS clients. This is a huge advantage for Congolese entrepreneurs, who will benefit from one of the largest loan repayment networks in the DRC.

« This partnership is also a key part of CFC’s strategy, by providing proximity value-added services to the Congolese population. Beyond international money transfer, CFC has also committed in developing local money transfer through its FLASH CASH platform and has set-up a CANAL + payment and top-up network. We welcome the success of this new and strategic partnership with OXUS” declares Jonathan JOHANNESSEN, CFC Chief Executive Officer.

Congo  (CFC) is the first money transfer network of in the DRC, with an annual portfolio of 1.5 million clients and more than 150 branches throughout the country. Beyond its historical activity of money transfer with Western Union, CFC now aims to bring innovative products to the Congolese population.