Togo’s Microfinance Network Grows to 63 APSFD Members

Finance

Thursday, 04 December 2025 15:33

Togo’s Microfinance Network Grows to 63 APSFD Members

(Togo First) - The Professional Association of Decentralized Financial Systems of Togo (APSFD-Togo) now counts 63 active member institutions, representing a substantial share of the country’s microfinance sector.

By comparison, more than 140 microfinance institutions are recognized by the Finance Ministry’s Directorate of Microfinance, some of which operate under umbrella networks such as FUCEC.

APSFD’s 63 member institutions operate in major cities and many rural areas. They offer savings, credit and other financial services to households, small traders and very small businesses. Membership includes additional oversight aimed at standardizing practices, strengthening training and improving service quality.

Microfinance institutions remain a key access point to financial services in rural and underserved areas, especially for clients with limited credit histories. They fill the gap left by the limited presence of commercial banks and support local economic activity.

APSFD assists its members in governance, risk management and compliance with regulatory requirements.

According to consolidated APSFD data for the end of 2024, the sector continued to expand. The number of clients reached 4,452,373, an increase of 7.9 percent over one year. Deposits rose 9.1 percent to 401.7 billion CFA francs, while the credit portfolio grew 5.3 percent to 358.9 billion CFA francs.

FUCEC-Togo remains the largest player in the sector, with assets of 167 billion CFA francs. The network, which includes more than 40 affiliated institutions, accounted for 46 percent of the sector total in 2024. It was followed by COOPEC AD-Togo with 38.4 billion CFA francs, COMEC with 29 billion, WAGES with 21 billion and CECA with 10 billion.

Ayi Renaud Dossavi

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.