Togo’ Inclusive finance fund granted almost CFA100bn in loans in 2020

Finance
Tuesday, 12 January 2021 18:23
Togo’ Inclusive finance fund granted almost CFA100bn in loans in 2020

(Togo First) - As of Dec. 31, 2020, the sum of loans granted by the National Fund for Inclusive Finance (FNFI) had exceeded CFA98 billion, according to recently released statistics. 

In the months closing the year 2020, the institution had provided more than CFA11 billion via its partnering microfinance institutions. 

Let’s recall that in 2019, loans provided by the FNFI amounted to CFA87 billion, making it the third-best performer in terms of financial inclusion across the West African Economic and Monetary Union (WAEMU). According to the BCEAO report on financial inclusion in the union for that year, Togo was behind Côte d’Ivoire (77.9%) and Benin (77.8%). 

Since it started operating, the Togolese Fund has provided 1,766,001 loans. 

Séna Akoda

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