The resources of the West African Monetary Union (WAMU) banks amounted to
billion CFA francs (46.935 billion euros) as of September 30, 2019, according to data from the Central Bank
of West African States (BCEAO). This corresponds to an increase of 11.51% compared to the same period last year.
period of 2018. Where they amounted to 28,059.303 billion CFA francs.
Thus, these resources are composed of deposits and borrowings to the tune of 25,602.786 billion CFA francs,
against 23,214.810 billion CFA francs on September 30, 2018 (+10.29%), various resources for 2,137.742
billion CFA francs against 1,817.851 billion CFA francs in 2018 (+17.60%) and net equity of 3,549.682
billion CFA francs against 6,026.642 billion CFA francs in 2018 (+17.28%).
At the level of uses, total achievements amounted to 34,384.423 billion CFA francs during the period
period under review, whereas it was recorded at CFAF 30,685.343 billion as of September 30, 2018, i.e., a
increase of 12.05%. The credits, them, occupy the essential of the jobs of the banks of the Umoa zone
to 21,842.473 billion CFA francs, against 19,220.086 billion CFA francs in 2018 (+13.64%).
For their part, the other uses (trading securities, investment securities, financial assets etc.)
amounted to 12,541.950 billion CFA francs at the end of September 2019 against 11,509.662 billion CFA francs a
year earlier (+8.97%).
A solid economy rests on solid foundations and banks are one of the pillars of this
foundation.
However, this economic and monetary area, as a whole, is going through particular moments of
history with the multiplication of security or political crises everywhere. This situation has made
difficult to carry out banking activities, which, moreover, require minimal security conditions to be
to be observed. Indeed, more than 150 years after the creation of the first banks in the Union, 7 to 8 people
out of 10 still do not have a bank account. The reasons for this low rate of banking are
low incomes, insufficient financial culture as well as the high level of poverty in the country.
propensity of the population to hoard money, especially in rural areas.
The West African banking sector is booming and is constantly changing as a result of mergers,
acquisitions, absorptions and establishments. Moroccan and Nigerian institutions are the major players
in this market.