At the end of 2019, the financial rating agency Bloomfield assessed the Caisse Nationale de Prévoyance Sociale and awarded it AA for the long term and A1+ for the short term.
Deciphering these two notes, during a recent meeting with the media, Soraya Diallo, Senior Vice-President of Bloomfield, reveals that the CNPS can issue to its financial partners, without needing to provide guarantees. And has the ability to repay its financial obligations at any time.
"It is a very solid entity whose sustainability is ensured by the implementation of reforms, since 2012, which have made it possible to establish a very strong financial structure and which will be reinforced by the ongoing investigation of the hedging social security for the self-employed".
At the end of the 2019 financial year, the CNPS recorded a financial portfolio of 529 billion FCFA. This envelope enabled it to make investments of 198 billion FCFA, including 147 in money and 51 in real estate.
For the Bloomfield agency, this financial activity developed by the CNPS has a positive impact on general performance. “It allows the generation of financial volumes, significant profitability which has made it possible to significantly improve the financial performance of the CNPS but also its liquidity”, estimates Soraya Diallo.
However, some gray areas were noted, in particular the difficulty of the provident institution in recovering contributions from public sector companies and the “tense” socio-political situation in this election year.
For this financial rating, the Bloomfield agency took into account the quality of the management, the strategy, the governance framework, the results, the profits and the results generated, for several years, by the CNPS.