Microfinance institutions are directly implanted by the health crisis; like banks for that matter.
The situation is beginning to improve after 6 months of tension, explains in the following interview Anges Kossivi Kétor, the director of the APSFD (Professional Association of Decentralized Financial Systems of Togo).
Republicoftogo.com: What are the direct impacts of the pandemic on your activities?
Angels Kossivi Ketor: The impact is very significant. From March to June, massive withdrawals were observed and the savings mobilized fell to 7 billion CFA francs in volume. Credit plunged him 40%. However, over the same period, the number of customers continued to grow.
The data is starting to improve a little, especially on mobilized savings.
There are more deposits and more credit because activities have picked up to some extent.
The quality of the portfolio has also improved compared to June.
Republicoftogo.com: Some believe that this pandemic is an opportunity to review certain practices
Angels Kossivi Ketor: It is an opportunity to question our procedures, our practices and completely review our way of operating and working.
For example, the digitization of operations has become a necessity.