The first meeting between the Secretariat of the UMOA Banking Commission and the Directors General of Large Decentralized Financial Systems (SFDs) took place on Friday, May 21, 2021 by videoconference. Over the past ten years, the number of SFD customers has increased from 6.9 million in 2010 to 15.9 million in 2020. Under the chairmanship of Tiémoko Meyliet KONE, Governor of the BCEAO and Chairman of the sub-regional banking supervisory body, the General Secretariat of the Banking Commission met with the Managing Directors of large SFDs established in UMOA. At the opening of the session, the Governor of the BCEAO emphasized in his speech the importance he attached to the microfinance sector. He welcomed the significant contribution of SFDs to the financial inclusion of UMOA populations, in particular, those who are most vulnerable and generally excluded from conventional financial circuits.

While the number of SFD customers increased from 6.9 million in 2010 to 15.9 million in 2020, the share of the working population using microfinance services increased to 22% in 2020 compared with 15% in 2010. The Governor of the BCEAO therefore stressed the urgent need to clean up and strengthen the microfinance sector. This should make it possible to ensure the provision of financial services that are more adapted to the needs of populations.

The Secretary General of the Banking Commission, Antoine TRAORE, expressed the good intentions of the Central Bank to support the sector, in order to enable it to contribute, under optimal conditions, to the financial inclusion of populations and to the sound financing of UMOA economies. To do this, the supervisor's actions will always be aimed at protecting depositors and controlling risks affecting the sector.