Cofina Togo launches with an initial capital of CFA500 million

Finance
Monday, 15 February 2021 16:09
Cofina Togo launches with an initial capital of CFA500 million

(Togo First) - The capital of Cofina Togo, the subsidiary of the eponymous meso-finance Ivorian financial group is estimated at Five hundred million CFA

Cofina Togo was to be headed by Kindoh Rodrigue Kouadio, but since he resigned it is finally Charles-Eric Akoumian Moulod who will occupy this position. The substitute was unanimously picked by the firm’s top management.

In Togo, Cofina’s main rival will be SOGEMEF who currently dominates the meso-finance sector.

Regarding its performances, “in 2019, the meso-finance specialist released a balance sheet of CFA212 billion, against CFA158 billion in 2018, and 155 billion in 2017”. Regarding outstanding loans, “they increased by 30% to CFA146 billion in 2019, while deposits reached CFA134 billion, thus nearly 29% more compared to 2018”, the group said.

Séna Akoda

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