COOPEC-Kara Reports 11.64% Growth in Loan Portfolio for 2023

Finance
Monday, 06 May 2024 16:41
COOPEC-Kara Reports 11.64% Growth in Loan Portfolio for 2023

(Togo First) - The Kara Savings and Credit Cooperative (COOPEC-Kara) shared its 2023 performance report recently, revealing a loan portfolio of 2.8 billion FCFA, an 11.64% increase from the previous year's 2.5 billion FCFA.

As the Togolese Press Agency (ATOP) reported, COOPEC-Kara saw its membership grow to 44,671 members by the end of 2023, up from 42,381 in 2022, a 5.40% increase. This rise in new accounts contributed to a total savings balance of 3,979,078,463 FCFA.

The cooperative's management credits this growth to its activities in the agricultural sector, covering production, storage, marketing, processing, and exploitation.

COOPEC-Kara operates four locations, including a Kara headquarters, Kétao and Pagouda branches, and a counter in the old Kara market connected to the headquarters. The cooperative is affiliated with the Federation of Cooperative Savings and Credit Units of Togo (FUCEC-Togo).

Esaïe Edoh

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