Microfinance institutions in Mali: 86 approved structures for 1.3 million clients

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The Professional Association of Decentralized Financial Systems in Mali (APSFD) held its 21st General Assembly from March 24 to 25. It was at the Modibo Keita memorial. A statutory meeting which ended with a press conference on the role of DFS in Mali.

“The banks are the money wholesalers, the decentralized financial systems are the retailers,” schematized Adama CAMARA, outgoing president of the APSFD, at the press conference that the association organized last Friday, on the sidelines of the 21st General Assembly. Despite having twice as many customers as banks, Adama Camara believes that microfinance institutions are little known to the general public. Their target is the low-income population that evolves in the informal sector not financed by banks.

Thus, as of December 31, 2020, microfinance in Mali is 86 approved structures; 857 service points; 1,312,822 members and customers. In the WAEMU zone, 1,650.5 billion FCFA of funds were collected in 2020 by microfinance institutions, an increase of 15.3%. It appears that Mali is “champion” in fundraising, with a rate of 21.4%; followed by Togo 21.1% and Burkina Faso: 18.7%.

In Mali, the target of microfinance institutions generally in rural areas must be trained. This is the role of the Agrofinance project implemented by German cooperation. “For the planter to speak and understand the language of decentralized financial systems, they must be trained,” said Dr Didier Dr Didier T. DJOUMESSI, Agrofinance project manager. Thus, capacity building sessions are underway and financial education training related to the economic model has been organised.

Mamadou TOGOLA/maliweb.net

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