Over CFA8.5 billion was distributed to Togo’s poorest since 2014

Monday, 26 April 2021 15:31
Over CFA8.5 billion was distributed to Togo’s poorest since 2014

(Togo First) - Between 2014 and 2020, more than 90,000 people received cash transfers, amounting to CFA8.61 billion, from the government of Togo. 

The figure was disclosed last week during a virtual meeting between Togolese Prime Minister Victoire Tomegah-Dogbe and Queen Maxima Zorreguieta Cerruti of the Netherlands, United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA).

Topics covered during the meeting include the UNSGSA’s projects, progress made by Togo in terms of financial inclusion, and ways to deepen cooperation between the West African country and the UN body. 

Social financial inclusion projects have been able to impact a large part of the Togolese population. We have set up cash transfers that regularly reach the poorest populations. We have also launched a major inclusive finance program that has reached nearly two million people, most of them women. With the pandemic, the 'Novissi' program, thanks to digital technology, has enabled Togo to be among the few countries that have been able to provide a rapid response to populations affected by the health crisis,” PM Dogbe declared. 

In the long term, the goal is to “accelerate financial inclusion in Togo, including digital financial services and inclusion of the poorest.”

The cash transfer scheme, it should be noted, is steered by the National Agency for Support to Grassroots Development (ANADEB). 

In Togo, the access rate to financial services stands at 25.1% for banks and 78.5% for decentralized financial systems. 

Séna Akoda

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