WAEMU : Togo records highest increase in deposits at microfinance institutions in 2018

Finance
Tuesday, 23 April 2019 12:18
WAEMU : Togo records highest increase in deposits at microfinance institutions in 2018

(Togo First) - In 2018, Togo was within the West African Economic and Monetary Union (WAEMU), the country that recorded the highest increase in money deposits at microfinance institutions, or decentralized financial systems (DFS), knowingly +24.8%. The nation came ahead of others like Mali (+23.4%), Benin (+6%) and Côte d’Ivoire (+5.9%).

The data was revealed in the recent report of the West African States Central Bank, BCEAO, on state of microfinance across the WAEMU. The document which covers the period from December 2017 to December 2018, was released this month.

Also, loans provided by the DFS rose by 24.8% in Togo, the second highest increase in the union, after Benin (+34.1%) and behind Burkina Faso (+21.1%), Mali (+20.2%), Côte d’Ivoire (+17%) and Senegal (+11.6%).

More globally, this amount recorded an average growth of 18.2% over the period reviewed to stand at CFA1,414.7 billion.

According to the Apex bank, these figures reflect a “relatively opportune progression of financial inclusion.”

Ayi Renaud Dossavi

 
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