Togo: Microfinance Deposits Grow, Credit Access Declines
Togo’s microfinance industry recorded contrasting trends in the first quarter of 2025. According to the Central Bank of West African States (BCEAO), deposits mobilized by decentralized financial systems (SFD) rose by 22.9 billion FCFA (around $37.5 million), an increase of 5.5%, bringing the total to about 436 billion FCFA ($714 million). Compared to the same period in 2024, this represents growth of nearly 9%. The rise is attributed to increasing trust from households and groups, making microfinance institutions an important channel for national savings. Most deposits remain demand deposits (57.3%), while term deposits represent 22.5%. The average savings per client reached 129,898 FCFA, up 1.4% since December 2024. On the other hand, credit activity showed a decline. Loans granted by SFDs fell by 20 billion FCFA ($32.7 million), a drop of 5.2%, in line with a regional slowdown across the […]