Togo begins preparations for the upcoming African Microfinance Week

Finance
Wednesday, 29 March 2023 14:21
Togo begins preparations for the upcoming African Microfinance Week

(Togo First) - Togo has begun preparations for the African Microfinance Week (AMW) which it will host next October. Last month, the Togolese minister of financial inclusion and the informal sector, Mazamesso Assih, and the event’s organizers–African Microfinance Institutions Network (AMIN) and the Appui au Développement Autonome (ADA)-laid the groundwork for the launch.

Set to be hosted in Lomé, the capital, the event should open on October 16 and close on the 20th. Nearly 1,000 inclusive finance professionals are expected. They will mostly discuss challenges faced by inclusive finance in Africa. 

Throughout the AMW, Togo, according to minister Assih, will share its experience regarding inclusive finance with other countries. The financial inclusion rate in Togo increased from 82.72% to 85.72% from 2021 to 2022. This is the best improvement rate recorded by a WAEMU country over the period, according to data released by the Togolese council of ministers on January 18, 2023. In the Union, Togo comes right before Benin (85.52% in 2022), and Côte d’Ivoire (82.2%).

"The 2023 AMW will be a bastion of hope for all stakeholders and an important step in developing and organizing the inclusive finance sector in West Africa," Mazamesso Assih added.

Esaïe Edoh

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