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Illegal collection of public savings in Benin: Microfinance structures authorized to make "Adogbè"

19/04/2022
Categories: Sectors

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In an interview with the newspaper Matin Libre, the Director General of the National Agency for the Supervision of Decentralized Financial Systems (Anssfd) provided some clarifications on the ban on "adogbé" tontine in Benin.

 

Last March, the Beninese government issued a decree to prohibit the illegal collection of public savings commonly known as "Adogbè". according to Louis Biao, the tontine "Adogbè" occupies an important place at the level of the national economy that must be reframed.

Thus, the prohibition "applies to promoters who have not received the approval and not the activity itself". Swiss Post, insurance companies, banks, decentralized financial systems or microfinance institutions collect savings and can therefore "make 'Adogbè' which is a savings product," he continued.

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