Loans given by microfinance institutions in Togo grew by 8% in Q3 2019, y/y

Finance
Wednesday, 22 January 2020 15:21
Loans given by microfinance institutions in Togo grew by 8% in Q3 2019, y/y

(Togo First) - In Q3 2019, loans given by Togo’s microfinance institutions were up 8%, compared to the same period in 2018, data from the West Africa Central Bank (BCEAO) shows. In the West African Economic and Monetary Union (WAEMU), the figure grew by 12.1% y/y, to stand at XOF1,498.9 billion. 

Togo, over the period reviewed, was behind Mali (+17.1%), Burkina Faso (+13.5%), Senegal (+13.3%), Côte d'Ivoire (+12.9%) and Benin (+8.2%). However, volumes of loans granted in Niger recorded the least growth rate across the union, +3.1%. In Guinea Bissau, the figure slumped by 36.7%. 

Regarding deposits, Togo recorded the second-highest increase rate for the quarter concerned, knowingly 11.4%, right after Mali (+17.9%). The two are followed by Benin (+9.8%), Côte d’Ivoire (+8.8%), Senegal (7.5%), and Burkina Faso (6.1%). In contrast, they slumped in Guinea Bissau (-23.1%) and Niger (-0.9%). 

Over the period reviewed, deposits in the WAEMU stood at XOF1,454.1 billion, up by 8.9% compared to the year before, XOF1,335.5 billion. 

Ayi Renaud Dossavi

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