Victorine Ndeye satisfied with the significant development of the microfinance sector

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(APS) – The Minister of Microfinance and Social and Solidarity Economy, Victorine Ndèye, praised, on Tuesday, the “significant meshing of the national territory by decentralized finance systems (SFD)” during “these last years », an evolution translated « at the end of 2021 by a financial inclusion rate of 35% ».

“We noted, with satisfaction, the evolution of the sector [de la microfinance] in recent years, marked by significant coverage and networking of the national territory by decentralized financial systems (DFS) increasingly close to direct targets, which resulted in the end of 2021 by a financial inclusion rate of 35 %,” she said.

Mrs. Ndèye took part in the 26th meeting of the national committee for the coordination of microfinance activities, which opened the same day in Dakar.

It notes that the development noted in this sector is also marked by an offer of products and services that are closer to the needs of the populations, “despite the persistence of strong constraints linked in particular to the lack of long and stable resources”.

“However, the lack of training of some beneficiaries, in terms of financial and accounting management, appears to be a limit in this dynamic, since it has a negative impact on the quality of the loan portfolio of most institutions”, a- she noted.

The Minister of Microfinance believes that under these conditions, “a careful look” must be taken at these issues, so that “corrective measures” are implemented, in terms of training and technical support for the benefit of decentralized financial systems. and beneficiaries.

The representative of the Association of Professionals of Financial and Decentralized Systems (APSFD), Lamine Guèye, for his part urged “all actors to contribute actively to the implementation of an action plan of the sectoral policy letter microfinance, insisting on the need to take into account changes in the sector to make this area of ​​activity “a driver of sustainable development”.

He deems it imperative to capitalize on the gains made and above all to “be part of synergies of efficient action for all the parties concerned for a financial inclusion that promotes well-being”.

The technical adviser to the national director of the Central Bank of West African States (BCEAO), Jean-Joachin Sène, mainly discussed the various initiatives taken by this monetary institution within the framework of strengthening the microfinance. He notably cited the implementation of the action plan for the preservation and consolidation of this sector.

Jean-Joachin Sène believes that, in general, the microfinance sector has recorded “notorious progress in recent years”, thanks to which the rate of use of decentralized financial services “has increased from 25% in 2013 to 35% in 2021”.

This, he says, resulted in the boost in the rate of mobilization of decentralized financial services, “increased from 40% to 78% during the same period”.

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