APA-Dakar (Senegal) By Massamba Sall To mitigate the impacts of the Covid-19 pandemic on the
banking system and the financing of economic activity in the West African Monetary Union (WAMU),
The Central Bank of West African States (BCEAO) has taken five measures in favour of institutions
microfinance (MFI), according to its officials.
The first measure allows MFIs to grant to their clients affected by the effects of the pandemic and who
requests "a postponement of maturities on their loan, over a period of 3 months renewable once, without charge
interest, no fees, no late payment penalty".
In return, receivables whose maturities are postponed must be classified in a
specific sub-account in the category of loans tied up over the period of the carry-over. The same measure
obliges MFIs to communicate to the ministerial monitoring structures (SMS) information relating to
claims carried over.
The second measure concerns MFIs referred to in Article 44 of the Law on the Regulation of Systems
decentralized financial (DFS). These are SFDs whose level of activities reaches a threshold of CFAF 2 billion
outstanding deposits or loans at the end of two consecutive financial years. The BCEAO also obliges them to provide information on claims that have been carried forward.
In its third measure, the Central Bank argues that it will appreciate, in relation to the secretariat
General of the WAMU Banking Commission and SMS, the implications of these measures on the situation
accounting and prudential MFIs and will, as necessary, take appropriate decisions.
The fourth measure relates to assistance granted by credit institutions to MFIs, which are eligible for the provisions of the BCEAO opinion on the postponement of maturities of
credit institutions affected by the Covid-19 pandemic. The BCEAO adds that "MFIs that
wish to be invited to get closer to their banking partners to benefit from
the measure of postponement of the deadlines of their commitments".
In the last measure, the BCEAO points out that the bank loans granted to MFIs referred to in Article 44
of the law regulating sfDs, are eligible to support the bank
Power plant. "Exceptionally, add the managers of the Issuing Institute, to increase liquidity in
in favour of the microfinance sector, the special window for refinancing the effects on small and
medium-sized enterprises (SMEs) is extended to bank claims held on these MFIs."