Officially launched in January 2014 by the Head of State Faure Essozimna Gnassingbé, the National Fund for Inclusive Finance (FNFI) completes its six (06) years in the service of the socio-economic inclusion of women and young people. In six years of activity, the Fund, set up to offer inclusive services to citizens excluded from the national financial and economic system, has shown convincing results and had a considerable impact on the populations.

10 products launched and one million beneficiaries

In total, exactly 10 products have been launched by the institution. From the best known, APSEF (Access of the poor to financial services) to the latest KIFFE and NKODEDE, via AGRISEF (for farmers), AJSEF (for young people) or PAF (for formalization), these products take into account the various sections of the population.

Thus to date, more than one million Togolese have been financed for income-generating activities (IGA) throughout the territory (95% of the villages affected in particular), all for a total volume of credits granted of more than 87 billion FCFA. Other striking signs of the support of the populations, the repayment performance "clearly beyond that of the banks" (with an average rate of 95%), and the constantly growing number of members (nearly 36 000 new in 2019). Twenty microfinance institutions are also partners of the FNFI.

From microfinance to traditional banking

This is the Fund's new bet, materialized by the recent launch of 02 new products, the Entrepreneurship Training Financing Kit (KIFFE) and NKODEDE (Progress in the local language). The two tools, intended respectively for young apprentices at the end of their training and for beneficiaries of the first FNFI products wishing to further strengthen and increase their IGAs, materialize the consolidation of inclusion in Togo, with the transition from microfinance to traditional banking. . A first in the sub-region.

Indeed, in partnership with Orabank, the FNFI allows them, through these products, to benefit from up to 5 million FCFA for larger investments. "These two categories of beneficiaries are in fact targets that will have their full role to play in terms of job creation within the framework of the PND", explains the Secretary of State for Financial Inclusion and the Informal Sector. , Mazamesso Assih.

An internationally recognized model

The echoes of this policy of inclusion initiated by the Head of State are exported and encourage other countries to try the adventure of inclusion. This is notably the case of Gabon and Burundi, which have sent missions to Lomé over the past year to soak up the Togolese experience.

The model of empowerment of Togolese women through the Fund was praised at the United Nations, and the BCEAO praised Togo's efforts in view of the data showing the explosion of the rate of financial inclusion in the country (45% of the population over the age of 15 has access to financial institutions in 2018, up 44%, and an expanded banking rate in 1st position in UEMOA).

Finally, among the technical and financial partners of the linchpin of financial inclusion in Togo, there are the BCEAO, the BOAD, the World Bank or the ADB.

For the government, the focus is now on the sustainability of the mechanism with, in particular, the upcoming adoption of a new master plan, in line with the National Development Plan (PND 2018-2022).