Togo: SOGEMEF has loaned out CFA30 billion since 2017

Finance
Tuesday, 10 October 2023 19:09
Togo: SOGEMEF has loaned out CFA30 billion since 2017

(Togo First) - Togo’s top mesofinance institution, Société Générale de Micro & Méso Finance (SOGEMEF) has loaned out CFA30 billion since its launch in 2017. This is twice the amount the lender reported in 2021.

The figures were disclosed by SOGEMEF’s acting MD, Zankou Abla Mawussé, last week. This was during the official inauguration of the lender’s branch in Kara.

The finance institution loaned the money to business owners active in sectors such as agriculture, livestock breeding, crafts, trade, hotels, tourism, and public works.

With over 17,000 clients, SOGEMEF attributes its growth to "solid partnerships" with the Agence Nationale de Promotion et de Garantie de Financement (ANPGF), the Mécanisme incitatif de financement agricole, fondé sur le partage de risques (MIFA) and the Fonds d'appui à l'employabilité des jeunes (FAIEJ).

Esaïe Edoh 

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