The amount of deposits collected by the decentralized financial systems (DFS) of the West African Economic and Monetary Union (UEMOA) amounted to CFA1,473.7 billion (about US$ 2.357 billion) in the fourth quarter of 2019, APA learned from the Central Bank of West African States (BCEAO).
By Massamba Sall
Compared to the fourth quarter of 2018 when they amounted to CFA1,243.2 billion, these collected deposits increased by 18.5 percent.
This increase was recorded in Mali (+ 31.0 percent), Burkina Faso (+ 22.9 percent), Cote d’Ivoire (+ 19.8 percent), Togo (+ 18.4 percent), Senegal (+ 16.5 percent), Niger (+ 14.8 percent) and Benin (+ 5.1 percent).
In contrast, BCEAO data indicates that a decline was witnessed in Guinea-Bissau (-6.2 percent).
Demand deposits remain preponderant with a share of 59.2 percent where time deposits and other deposits constitute 19.9 percent and 20.9 percent, respectively.
Men constitute the majority of savers, totaling 50.5 percent of the savings mobilized by the DFSs, against 26.5 percent for women and 23.0 percent for groupings.
The average amount of savings per client was CFA101,266 at the end of December 2019, compared to CFA89,442 for the fourth quarter of 2018.
For all UEMOA microfinance institutions, the savings collected represent 5.4 percent of the total deposits held by credit institutions.
MS/te/fss/as/APA