Microfinance: Outstanding debts up 18.3% y/y in Q4 2019

Finance
Tuesday, 02 June 2020 10:02
Microfinance: Outstanding debts up 18.3% y/y in Q4 2019

(Togo First) - In the last quarter of 2019, outstanding debts of microfinance institutions operating in Togo was reported to have risen by 18.3%, year-on-year, according to the Central Bank of West African States (BCEAO). 

This is the second-highest annual increase in the WAEMU, right behind Mali (+26.7%), and before côte d’Ivoire (+16.9%), Senegal (+5%), Burkina Faso (+4.6%), and Niger (+1.4%). In opposition, Guinea Bissau and Benin regressed by 29.1% and 2.6% respectively. 

For the whole WAEMU area, the total outstanding debts of microfinance institutions over the period under review stood at XOF1,555.6 billion. 

In detail, half of the loans are short-term credit. Meanwhile, medium and long term loans made up respectively 31.3% and 18.6% of the total estimated over the period reviewed, the BCEAO said. 

On a gender basis, it comes out that 57.6% of the loans were granted to men, against 30.3% and 15.6% respectively for women and groupings. 

Ayi Renaud Dossavi

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