The Burkinabe Ministry of Economy and Finance on Monday released, the official list of institutions authorized to operate microfinance activities across the country as part of efforts to strengthen regulation of the rapidly expanding sector.
The authorization framework is based on Law No. 001-2025/ALT of February 13, 2025, adopted to clean up and better regulate the industry.
Under the new rules, only 120 institutions included on the official list are legally permitted to conduct microfinance operations.
The licensed institutions are authorized to collect public savings, grant loans to individuals and businesses and issue guarantees, in accordance with current regulations.
Through this initiative, the authorities aim to better protect savers and restore confidence in the national financial system. It also seeks to eliminate illegal operators often linked to fraudulent practices that harm local populations.
The government has urged citizens to exercise caution, encouraging them to systematically verify the legal status of institutions before engaging in any financial transactions and to deal exclusively with officially recognized entities to secure their funds.
HO/te/Sf/lb/gik/APA