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Microfinance: 14.2% increase in deposits collected in the 2nd quarter of 2019

17/10/2019
Source : Agence Ecofin
Categories: Sectors

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In the second quarter of 2019, Togo experienced a 14.2% increase in the amount of deposits collected by microfinance institutions, according to statistics from the Central Bank of West African States (BCEAO). These figures, which are down from the first quarter (when deposits stood at 16%), however, represent the second largest increase in the Uemoa space, behind Mali (+16.4%), more important contributor on this segment. Togo thus comes ahead of Côte d'Ivoire (14.1%), Senegal (+10.5%), Benin (+5.4%), Burkina Faso (+3.4%), and Niger (+1.2%). The pack is closed by Guinea Bissau, whose deposits are singularly in contraction (-33.7%) for this quarter. In terms of outstanding loans from Decentralized Financial Systems (DFS), Togo recorded an increase of 11.6% over the period under review. All these figures bring all the deposits collected in the Uemoa Zone to 1,441.5 billion FCFA, and which are up 10.3%, year-on-year (they were 1,307 billion FCFA over the same period). , one year earlier). Trends which are expressed in a generally favorable context for financial inclusion, according to the Central Bank (with in particular a gross rate of deterioration of the portfolio which fell slightly, standing at 7.4%, against 8, 9% at the end of June 2018; compared to a generally accepted standard of 3% in the sector).

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