Microfinance in Togo: the main objective transformed into a scam by some officials : Orishas-finance

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Microfinance in Togo: the main objective transformed into a scam by some officials

22/11/2022

Categories: Index/Markets

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Microfinance in Togo: the main objective transformed into a scam by some officials

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In Togo, microfinance or the Decentralized Financial Systems (SFD) activity has become a panacea for many entrepreneurs. Adventurous in this field, these entrepreneurs pursue personal enrichment at the expense of the financial well-being of subscribing members.

The first initiators of microfinance aimed to enable disadvantaged groups to have access to credit. But many microfinance managers in Togo now have an objective that is very far from the one programmed at the beginning. Thus, we have noticed the disappearance of microfinance managers with the funds saved by simply and purely closing the doors.

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