Structural Economic Causes of the Financial Exclusion of the Poor and Dynamics of Informal Sector Resilience in the Democratic Republic of Congo

This study analyzes the structural economic causes of the exclusion of poor populations from the formal financial system in the Democratic Republic of Congo (DRC) and examines mechanisms that could promote financial inclusion and the resilience of the informal sector. Despite the importance of the informal sector in the Congolese economy, access to formal financial services for poor households and micro-entrepreneurs remains extremely limited, which increases their vulnerability to economic and institutional shocks. The study adopts a qualitative, historical, and institutional approach, based on an in-depth documentary analysis of official reports, public policy documents, and scholarly works. The analysis highlights that financial exclusion in the DRC has developed cumulatively, from the colonial period to postcolonial economic reforms, through a financial system primarily oriented towards the interests of concessionary companies, and later, urban elites. The gradual transformation of the central bank's mission, the succession of monetary, budgetary, and fiscal reforms, as well as the failure of the financial system in the 1990s, exacerbated the financial marginalization of the poor. The results show that hyperinflation, demonetization, dollarization of the economy, and the liquidation of financial institutions led to a massive loss of household savings and a lasting breakdown of confidence in the formal financial system. Faced with this persistent exclusion, populations have developed resilience mechanisms based on informal finance, particularly through community-based savings and credit schemes. However, these mechanisms remain insufficient to guarantee sustainable financial inclusion. The study concludes that financial inclusion in the DRC requires a structural overhaul of the financial system, integrating community dynamics, the informal sector, and financial innovations, within the framework of a coherent long-term economic development strategy