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Microfinance: 50 billion FCFA in loans granted monthly by institutions

08/12/2022
Categories: Sectors

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50 billion FCFA in credits are granted monthly by microfinance institutions according to information announced by the Minister of Microfinance and the Social and Solidarity Economy.

Victorine Anquediche Nlèye informed the Assembly during the vote on her department's budget that her department has 4 million customers, nearly 10 times the clientele of the country's banking institutions. The sector has 69,884 permanent jobs, 85,199 fixed-term contracts and 458,385 volunteers or mutual members, demonstrating the transversal dimension and importance of its ministerial department, according to figures from the National Agency for Statistics and Demography (ANSD). She also recalled that “social and solidarity economy organizations, still according to the ANSD reference situation, contributed 255.1 billion CFA francs in 2019, or 1.9% of GDP.”

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