Uncategorized

Togo: situation of microfinance in the first quarter, loans up 18.9%

Written by admin


(Togo First) – At the end of March 2022, the outstanding balance of loans granted by microfinance (decentralized financial systems) increased by 38.3 billion FCFA compared to March 2021, an increase of 18.9% year-on-year, according to the latest report of the Central Bank of West African States, on the situation of microfinance in the Uemoa space.

The country thus recorded the second most significant increase, behind Burkina, which posted an annual increase of 27.8% over the quarter. In terms of volume, it is Côte d’Ivoire, the main lung of the WAEMU economy, which takes first place, with credits up by 73.33 billion FCFA, for an increase of 17.7%, year-on-year.

These results are announced despite a slowdown in loans granted by microfinance establishments during this period, which are used to reducing the airfoil after larger loans granted during the end-of-year holidays.

“Despite the slowdown over the quarter, the outstanding credits of the Union’s DFS increased by 268,327.1 million FCFA (+ 16.0%) compared to its level at the end of March 2021 to stand at CFAF 1,946,765.4 million. »indicates the BCEAO.

It should be noted that a little over half (50.4%) of all the credits granted by the DFS of the Union over the period, is made up of short-term credits. Medium and long-term loans represent 30.5% and 19.1% respectively over the period. Men account for 54.3% of loans against 20.6% for female customers, 25.1% of financing for groups.

Deposits up 20.4%

At the same time, deposits also increased. Togo thus recorded an increase of 55.46 billion FCFA, compared to the first quarter of 2021, an increase of 20.4% year-on-year.

In the sub-region, the countries showing the greatest increase in volume are Côte d’Ivoire (+100.43 billion FCFA), Burkina Faso (+81.34 billion FCFA over the period). In total, the amount of deposits collected increased by about 336 billion FCFA over the period, to stand at 2076.84 FCFA, up 19.3% compared to the first quarter of the previous year.

Sight deposits predominate with a share of 58.1% of total deposits. Term deposits and other deposits constitute 21.0% and 20.9% respectively. In addition, 43.4% of the savings mobilized by the DFS were made up by men, 22.2% by women and 34.4% by groups.

Ayi Renaud Dossavi

Read also:

Microfinance in Togo: outstanding loans increase by more than 34% in 2021

Togo: the government announces the “Cleansing” operation of the microfinance sector

Ranking of microfinance structures in Togo

.



Source link

About the author

admin

Leave a Comment