Togo: At June 30, 2018, the National Fund for Inclusive Finance had raised CFA30bn from State and lenders

Finance
Wednesday, 19 September 2018 16:19
Togo: At June 30, 2018, the National Fund for Inclusive Finance had raised CFA30bn from State and lenders

(Togo First) - In Togo, the national fund for inclusive finance (FNFI) has at June 30, 2018 collected a total of CFA30 billion from the State and various lenders. This was disclosed Sept 18 by Assih Mazamesso, State secretary in charge of financial inclusion and informal sector.

Leveraging the funds, the FNFI has provided CFA75 billion loans through a revolving system. Compared to CFA73 billion announced a few months back, the figure is quite an improvement.

Looking at loan recovery rate, it stands at 93% like announced during the four-year review meeting of the FNFI. In this regard, the Savanna region is the best debt-payer with a reimbursement rate of 100%.

Encouraged by these performances, the State secretary said FNFI should achieve financial autonomy by 2019 and thus announced the arrival of new products.

Séna Akoda

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