The resources of the banks of the West African Monetary Union (WAMU) stood at 31,290,210
billion CFA francs (46.935 billion euros) as of September 30, 2019, according to data from the Central Bank
West African States (BCEAO). This corresponds to an increase of 11.51% compared to the same
period of the year 2018. Where they amounted to 28,059.303 billion CFA francs
Thus, these resources are composed of deposits and loans to the tune of 25,602.786 billion CFA francs,
against 23,214.810 billion CFA francs at 30 September 2018 (+10.29%), various resources for 2,137,742
billion CFA francs against 1,817.851 billion CFA francs in 2018 (+17.60%) and net equity 3,549,682
billion CFA francs against 6,026.642 billion CFA francs in 2018 (+17.28%).
In terms of employment, total achievements amounted to 34,384.423 billion CFA francs during the period
under review while it was recorded at 30,685.343 billion CFA francs at September 30, 2018, or one
increase of 12.05%. Loans, on the other hand, occupy the bulk of the jobs of banks in the Umoa
to 21,842.473 billion CFA francs, against 19,220.086 billion CFA francs in 2018 (+13.64%).
Other uses (transaction securities, investment securities, financial fixed assets, etc.)
amounted to 12,541.950 billion CFA francs at the end of September 2019 against 11,509.662 billion CFA francs one
year earlier (+8.97%).
A strong economy rests on solid foundations and banks are one of the pillars of this foundation.
However, this economic and monetary area as a whole is going through particular moments of
its history with the multiplication of security or political crises everywhere. This situation has made
difficult to carry out banking activity which, moreover, requires minimum security conditions
observe. Indeed, more than 150 years after the creation of the first banks in the Union, 7 to 8 people
out of 10 do not yet have a bank account. The reasons for this low rate of banking are
known to all, namely, low incomes, insufficient financial cultivation and high
propensity of the population to hoard especially in rural areas .
The West African banking sector is booming and is constantly changing with mergers,
acquisitions, acquisitions and locations. Moroccan and Nigerian institutions are the main players
of this market.