Microfinance: Number of clients up 9.5% at the end of Q3 2018, year-on-year

Finance
Tuesday, 29 January 2019 17:13
Microfinance: Number of clients up 9.5% at the end of Q3 2018, year-on-year

(Togo First) - At end-September 2018, the number of people that benefited from the services of microfinance structures in Togo stood at 2,483,190, according to data from the Central Bank of West African States (BCEAO). This is 9.5% more compared to the previous year.

Meanwhile, the number of structures operating in the sub-sector was 75 at the end of Q3 2018.

Over the same period, the number of service points grew from 462 to 515. Deposits at end-September 2018 amounted to 188 billion CFA against about 165 billion the year before.

Outstanding loans rose from around 140.5 billion to 161 billion over the period under review.

Concerning recovered loans, figures were less good. From 11.9 billion, they rose slightly to 13.709 billion. In this context, loan portfolio of decentralized financing structures contracted to 8.5%, against 8.43% a year earlier, for a generally admitted norm of 3%.

Séna Akoda

togofirst mobile

 
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