Senegal hosts 30th microfinance coordination session in Dakar

The 30th session of the National Coordination Committee for Microfinance activities was held in Dakar, organized by the National Microfinance Impulse Fund (Fonamif) in partnership with the Association of Microfinance Institution Professionals (Apim) and German cooperation (Giz). Presided over by Dr. Alioune Dione, the Minister of Microfinance and Social and Solidarity Economy, the meeting focused on the theme of mobilizing sustainable financing.

Senegal currently leads the UEMOA zone in microfinance, accounting for approximately 15.5% of the union's accounts. The sector serves over 4.7 million members and clients, with distributed credit outstanding at approximately 849.9 billion FCFA, savings outstanding at 634.7 billion FCFA, and estimated equity of 230.6 billion FCFA.

Despite these figures, the Minister highlighted challenges, specifically noting that non-performing loans stand at 6.0% of outstanding credit, which exceeds the 3% prudential threshold. Dr. Dione emphasized the need for stakeholders to comply with new regulations, including Law No. 2025-4 of February 16, 2025, to ensure a more transparent and secure sector.