The Role and Impact of Savings Mobilization in West Africa: A Study of the Informal and Intermediary Financial Sectors in Benin, Burkina Faso, Ghana, Guinea, Mali and Togo (Volume 2)

Publication Date: Mar 1999
Published by: MicroSave
Document Type: Case Study

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The features of the microfinance sector and institutional profiles of microfinance, savings and credit institutions of six countries in West Africa

This is the accompanying volume of the report by MicroSave-Africa on informal and intermediary financial sectors in Benin, Burkina Faso, Ghana, Guinea, Mali and Togo. It includes:

• Useful country information;
• Information of the microfinance, savings and credit institutions.

The document describes the main characteristics of the microfinance sector of the six countries.

• Benin: FECECAM is the predominant microfinance institution. Several financial mechanisms with different principles and modalities are found.
• Burkina Faso: Microfinance depends on an accurate judicial framework defined by a general agreement.
• Ghana: The financial sector is rigorously controlled by the Bank of Ghana. There is no real framework but various acts. A variety of actors supply microfinance services.
• Guinea: Projects supply financial services to poor populations for which financing is provided by external partners or the State. The Guinea Central Bank manages the microfinance structures called Special Financial Structures (IFS). The sector is dominated by two MFIs.
• Mali: Kafo Jiginew and Nyésigiso are the predominant institutions in the microfinance sector. The sector comprises of a variety of operations that differ by their modalities and principles.
• Togo: The FUCEC is predominant in the microfinance sector. Wide range of financial mechanisms, with different modalities and principles are prevalent.

The document also discusses the following:

• The regulatory framework;
• Sector particularities;
• Institutional profile of the organizations working in these countries detailing:
  • Description of the institution;
  • Characteristics of savings and credit operations and products;
  • Clientele, credit products, institutionalization;
  • Strategies for developing savings mobilization.