Togo: Microfinance Institutions Slow Down on Lending as Overdue Loans Spike Amid COVID-19 Pandemic
Amid the Covid-19 pandemic, microfinance institutions active in Togo considerably lowered loans to the public in the nine first months of 2020. Indeed, after recording two-digit growth in the years before, unpaid loans from these entities had grown by 0.7% only at the end of September 2020, data from the central bank of West African States (Banque centrale des Etats de l’Afrique de l’Ouest – BCEAO) shows.
Photo courtesy of Barbara Minishi/European Union.
Source: Togo First (link opens in a new window)
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