Togo's Association professionnelle des systèmes financiers décentralisés (APSFD-Togo), the country's professional association of decentralized financial institutions, has changed its name to Association professionnelle des institutions de microfinance (APIM-Togo). The change was approved on October 30, 2026, in Kpalimé, as the association elected new leadership amid tighter regulations and rising loan repayment problems.
A Growing Sector Under Pressure
At a general meeting, members elected Romaric Lissanon Dossou, CEO of Millénium Microfinance, as chairman of the board for a two-year term. He succeeds Kokou Gabiam, who led the association for four years.
Togo's microfinance sector continued to expand in 2025, according to figures presented at the meeting. The number of clients and beneficiaries rose to 4.69 million from 4.45 million in 2024. Deposits reached 444 billion CFA francs, while outstanding loans stood at 358 billion CFA francs. The sector comprises 155 licensed institutions with a network of 632 branches and service outlets.
Despite rising deposits, loan repayment problems have worsened. The gross portfolio-at-risk ratio, an indicator of overdue loans, reached 6.7% in 2025, more than twice the regulatory ceiling of 3%.
Meeting New Regulatory Requirements
The new leadership will be responsible for supporting digital adoption and helping microfinance institutions meet tighter regulatory requirements.
The transition follows Togo's adoption of legislation in March 2026 bringing its laws into line with the West African Monetary Union's (WAMU) new microfinance regulations. The legislation strengthens requirements for governance, internal controls and customer protection.
APIM-Togo has 63 members drawn from the country's 155 licensed microfinance institutions. These institutions play an important role in providing households and small businesses with access to credit.
R.E.D