Microfinance: WAEMU releases situational analysis for H1 2020

Wednesday, 13 January 2021 17:04
Microfinance: WAEMU releases situational analysis for H1 2020

(Togo First) - In Togo, outstanding loans granted by microfinance institutions in H1 2020 grew by 5.3%. This was revealed in the BCEAO’s latest analysis on the economic situation of the West African Economic and Monetary Union (WAEMU). 

The performance, which is slightly higher than that recorded in H1 2019 (5.1%), makes Togo the fourth economic driver in the WAEMU. It comes behind Ivory Coast (+12.1%), Mali (+9.5%), and Benin (+6.2%). Togo however comes ahead of Senegal (+2.3%), Guinea Bissau (+1.7%), Burkina Faso (+1.5%), and Niger (-27.5%). 

Overall, total outstanding loans for the WAEMU amounted to CFA1,505 billion in the first half of last year.  Nearly half of this amount (48.4%) were short-term loans. 

Regarding deposits, WAEMU’s central bank said CFA1,586.5 billion were recovered, as against CFA1,441.5 billion the year before. This represents an increase of 10.1% year-on-year.  Here, Togo came behind Burkina Faso (+15.4%), Mali (+17.1%), and Benin (+17.2%), and ahead of Ivory Coast (+10%), Senegal (+2.6), Guinea Bissau (-5.3%), and Niger (-0.8%). 

Ayi Renaud Dossavi

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