African News Business and Economy

Togo Moves to Reform Microfinance

By Ajuma N / February 23, 2026

The government of Togo has adopted a draft law to reform its microfinance sector. The decision followed a Council of Ministers meeting held on February 19, 2026.

The bill aligns national legislation with the uniform law adopted by West African Economic and Monetary Union in December 2023. Officials say the reform addresses weaknesses in governance, credit management, and information systems. The new framework introduces stricter licensing, supervision, and customer protection measures. Authorities believe the law will strengthen financial stability and improve user protection.

Togo’s microfinance sector serves about 3.5 million clients with deposits nearing 404 billion CFA francs. With financial inclusion rising to 89.04 percent in 2024, Togo ranks second within WAEMU on the indicator.

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