In the first half of 2020, the amount of loans outstanding in microfinance institutions (Decentralized Financial Systems or SFD) in Togo rose by 5.3% annually, according to the latest status report in the West African Economic and Monetary Union (UEMOA), issued by the Central Bank (BCEAO).

This increase, slightly above the average of 5.1% for UEMOA (compared to June 2019), places Togo the 4th largest growth driver in the sub-region, behind Côte d'Ivoire (+12.1%), Mali (+9.5%), and Benin (+6.2%). On the other hand, Togo is ahead of Senegal (+2.3%), Guinea-Bissau (+1.7%), Burkina (+1.5%), and Niger, whose

In total, the outstanding amount of loans from SFD in the Union amounted to 1 505 billion FCFA in the first half of last year, of which almost half (48.4%) consisted of short-term loans, in this period already marked by the Covid-19 pandemic.

As for deposits, the amount collected was 1586.5 billion FCFA compared to 1441.5 billion FCFA a year earlier, representing an annual increase of 10.1%.

At this level, Togo showed an increase of 11%, behind Burkina (+15.4%), Mali (+17.1%), and its neighbor Benin (+17.2%), while ahead of Côte d'Ivoire (+10%), Senegal (+2.6%), as well as Guinea-Bissau and Niger, whose deposits fell by 5.3% and 0.8% respectively.