Togo : 10 years of financial inclusion, the FNFI is a real coalition against poverty set up by Head of State Faure Gnassingbé
The presidential initiative launched to address the exclusion of informal sector actors from traditional banking systems, the National Inclusive Finance Fund (FNFI), has come a long way and has been a true success. Ten (10) years ago, the Head of State, Faure Essozimna Gnassingbé, gave the green light for the promotion of financial inclusion in the country. This bold vision of the Togolese president, which has materialized over the years, has changed the lives of over 1.8 million Togolese, mostly women and young people.
In a decade, the Togolese government and its partners have mobilized 109 billion FCFA for the benefit of micro, small, and medium enterprises from all socio-economic strata of the country. Through financial services such as FAIEJ (Fund to Support Youth Economic Initiatives), AGRISEF for the agricultural sector, AJSEF (Access of Youth to Financial Services), APSEF, PAF, PAIFFV, PAS-AGRISEF, PAS-APSEF, PNPER, PS, KIFFE, NKODEDE, disadvantaged groups, young farmers, and microproject promoters have gained access to financial credits to launch their activities.
The FNFI, President Faure Gnassingbé’s inclusive financial vision, has truly transformed the lives of Togolese people. Whether addressing difficulties related to children’s education, healthcare, or daily needs, the FNFI has instilled hope in low-income populations, especially in disadvantaged areas.
After ten years of existence, the government aims to step up its efforts. Firstly, by maintaining the course and impact on communities. Secondly, Faure and his team plan to digitize and strengthen incentives, along with a facilitation mechanism between banks and decentralized financial services, for better coverage in areas with low access to financial services.
By 2025, the Togolese government aspires to reach an additional 255.000 Togolese citizens through this initiative.
