MFX and FPM Partnership brings Asset/Liability Management (ALM) to The Democratic Republic of the Congo
February 12, 2014 (Washington, DC) - MFX Solutions (MFX) today announced the launch of a two-year technical assistance partnership with Fonds pour l’inclusion financière en RD Congo (FPM), in the Democratic Republic of the Congo (DRC). The goal of the partnership is to reduce financial risk and promote investment flows into the Congolese financial sector. MFX, a specialized financial risk management firm based in Washington DC, will provide, in partnership with FPM, training and tools to Congolese banks and microfinance institutions to improve their Asset/Liability Management (ALM) capacity. The partnership is supported by the International Finance Corporation (IFC) and the Canadian International Development Agency (CIDA).
“As a leading financial risk management service provider in Sub-Saharan Africa, MFX is excited to partner with FPM to help modernize banks and MFIs in the DRC. The Congolese marketplace is increasingly competitive and banks need solid skills and systems to manage risk as they grow,” says Kevin Fryatt, MFX’s Director of Technical Assistance.
The partnership will build out much needed staff and governance capacity as well as policy and decision making frameworks. It also will introduce MFX’s Comprehensive Asset/Liability Management (CALM) Tool to the Congolese market. The CALM Tool is a cutting edge financial statement stress testing model which allows financial institutions to manage financial risks associated with economic shocks. Together these form the building blocks of strong financial risk management.
About MFX Solutions: MFX Solutions is a socially-oriented company that supports lending to entrepreneurs in low-income countries with affordable hedging products and risk management education. MFX believes that when currency and market risks are managed effectively, development lending can reach more entrepreneurs at the bottom of the pyramid, more sustainably, at a lower cost. Better access to foreign exchange hedging tools and financial education can therefore have a profound effect on global poverty.
For more information, visit www.mfxsolutions.com or contact Kevin Fryatt at firstname.lastname@example.org.
About FPM: FPM is a non-profit association (ASBL) whose mission is to contribute to poverty reduction in the DRC through promoting the development of a sustainable supply of financial services accessible to Micro, Small, and Medium Enterprises (MSMEs) and low-income households through the provision of technical assistance and financing services to the local financial institutions. FPM is funded by four donors: World Bank, KfW, UNDP, and UNCDF.
For more information, visit www.fpm.cd/ or contact Jean Claude Thetika at email@example.com.