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Microfinance Industry Development Program: Towards Access to Financial Services for All

07/09/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Through the Microfinance Industry Development Program, the Ministry in charge of Microfinance intends to facilitate access to financial services for all.

The Ministry's Multiannual Expenditure Programming Document (Dppd 2024-2026, May 2023), indicated the proportion of Decentralized Financial Systems (SfD) complying with prudential management standards should increase from 20% to 25% in 2024 and 35% in 2026 under the aegis of the Directorate-General for Microfinance (DGG)) and the National Microfinance Fund (Fnm). The growth rate of SFD customers would reach 25% in 2024, then 30% in 2026, after 15% in 2022, with 100% repayment of loans. It is planned to implement a financial education program for the benefit of the population and a National Strategy for Financial Inclusion (Snif) and the credit component of the Insurance project for strengthening human capital (Arch). And the digitization of all financial services, the financing of agriculture and other innovative products as well as the finalization of the Microfinance Development Policy Document

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