Togo : FNFI celebrates its achievements with a grandiose fair and record inclusion
In its ten years of existence, the National Inclusive Finance Fund (FNFI) in Togo has achieved significant success, as reflected in recent figures. With thirteen products launched and a total budget of 109.593 billion XOF, the FNFI has granted 1.868.017 credits across the country, pushing the financial inclusion rate from 57.7% in 2014 to a remarkable 85.72% in 2021.
Established in 2014, the FNFI aims to ensure access to low-interest loans for various categories of the population. It collaborates with over twenty financial service providers (FSPs) to whom it grants credits for the beneficiaries based on the requested product.
The first FNFI product, « Access for the Poor to Financial Services (APSEF) » , launched in April 2014, reached more than 1.022 million people in all prefectures, allocating the largest volume of credits, totaling 38.02 billion XOF. It aims to support income-generating activities such as small businesses, agriculture, and craftsmanship. This generic four-cycle product is accessible to economically disadvantaged women and men capable of conducting income-generating activities. It is followed by the AGRISEF product with 35.41 billion XOF granted.
The repayment rate for the various products is around 93.51%, demonstrating the FNFI’s strong integration into Togo’s financial landscape. The Minister in charge of financial inclusion and the informal sector, Mazamaesso Assih, states that the FNFI is recognized nationally and internationally as the leading institution for promoting accessible finance for all, especially for the poorest segments.
On the occasion of its tenth anniversary, several activities are planned, including a fair with 500 exhibitors on the esplanade of the Kégué stadium in Lomé. The climax is scheduled for January 24th.
