The amount of deposits collected by Togo's Decentralized Financial Services (DFS) increased by 8% year-on-year in the first quarter of 2020, and outstanding loans increased by 2.7% over the period under review.

This increase in deposits reflects the average evolution of WAEMU member countries according to the update of the regional situation published this Friday, August 7 by the Central Bank (BCEAO). The figures show 1,520.9 billion FCFA at March 31, 2020, against 1,390.8 billion FCFA a year earlier, an increase of 9.4%.

The increase is most observed in Mali with 17.5%, while the largest decline was noted in Niger (-2.3%). Demand deposits remain preponderant with a share of 59.4%, and the savings mobilized by sfDs were constituted to the tune of 50.5% by men, 27.6% by women and 21.9% by groups.