The Central Bank of West African States has approved ten new payment institutions in the WAEMU region. Among them is Ollo Africa, the first Togolese fintech to receive this recognition.
Based in Lomé, the startup is launching Ohana Africa, a digital platform for collective savings. The app integrates traditional savings into the formal banking system. Ollo Africa aims to reach one million users in Togo before expanding to other countries. Its partnerships with banks like Ecobank are set to support growth.
Managing Director Mawuna Koutonin said the license strengthens financial inclusion in Togo. The BCEAO sees the approvals as part of a strategy to open the market and spur innovation.
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