Togo’s Microfinance Sector Reaches 4.7 Million Beneficiaries Amid Regulatory Reform

Economic governance

Wednesday, 11 March 2026 13:44

Togo’s Microfinance Sector Reaches 4.7 Million Beneficiaries Amid Regulatory Reform

(Togo First) - Togo’s microfinance sector served more than 4.69 million beneficiaries as of the end of December 2025, Finance and Budget Minister Essowè Georges Barcola told lawmakers.

Deposits held by microfinance institutions reached 447.5 billion CFA francs, while the sector’s outstanding loan portfolio stood at 352.1 billion CFA francs. Total assets exceeded 578 billion CFA francs, Barcola said.

He presented the figures on Tuesday, March 10, in Lomé, during a plenary session of the National Assembly examining a bill to regulate the microfinance sector.

Strong Growth

The data confirm steady expansion in the sector. By the end of 2024, microfinance institutions already served more than 4.45 million beneficiaries, with deposits exceeding 401 billion CFA francs and loans nearing 359 billion CFA francs.

Operating nationwide, microfinance institutions play a key role in providing financial services to households, artisans and micro-entrepreneurs, particularly in rural and underserved areas.

More than 140 institutions are registered in the country, including 63 members of the Professional Association of Decentralized Financial Systems (APSFD).

The sector is dominated by the Federation of Cooperative Savings and Credit Units of Togo (FUCEC-TOGO), which accounted for 46% of sector assets in 2024, followed by COOPEC AD, COMEC, WAGES and CECA.

New Regulatory Framework

The new law adopted by lawmakers incorporates into Togolese legislation a uniform act adopted by the West African Monetary Union (WAMU) in December 2023.

It aims to strengthen governance, improve supervisory mechanisms and enhance consumer protection. The law also introduces stricter anti-money laundering and counter-terrorism financing obligations, Barcola said.

“No institution will be able to operate without internal control mechanisms, without joining credit information bureaus and without cooperating with the competent authorities to detect and prevent illicit financial flows,” he told parliament. The reform seeks to strengthen the sector’s stability while reinforcing its role in financing the local economy and expanding financial inclusion.

Ayi Renaud Dossavi

Togo’s Microfinance Sector Reaches 4.7 Million Beneficiaries Amid Regulatory Reform

African Experts Meet in Lomé to Harmonize Laws Protecting Aquatic Biodiversity

african-experts-meet-in-lome-to-harmonize-laws-protecting-aquatic-biodiversity

Togo adopts law implementing WAEMU anti-counterfeiting rules

University of Lomé students tackle business challenges through digital innovation

university-of-lome-students-tackle-business-challenges-through-digital-innovation

Togo begins nationwide polio vaccination campaign following confirmed case

Egypt’s Orascom Group explores investment opportunities in Togo

Togo connects nearly 100,000 households to power through Fonds Tinga in 2022–2025

At Lomé scientific forum, CAMES pushes for coordinated African research policy

at-lome-scientific-forum-cames-pushes-for-coordinated-african-research-policy

Togo Moves to Standardise Geographic Coordinates for Mapping and Urban Planning

Togo commits to completing household living conditions survey by end-2026

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.