Educational campaign on microfinance launched in Senegal

Aug 24, 2011

A national campaign to educate people on microfinance is about to be launched by the Senegalese government.

A national campaign to educate people on microfinance is about to be launched by the Senegalese government.

The Office of Microfinance is working on a scheme targeting clients of microfinance institutions as well as the general public, Le Sud newspaper reports.

It is hoped this will mitigate the risk of over-indebtedness from financial services' clients and therefore strengthen the sector's health.

During a workshop organised by the authority on August 20th and 21st in Saly Portudal, participants were told that until now, training was mainly aimed at technicians working for microfinance institutions.

However, the government now wants to communicate directly with end consumers.

According to microfinance specialist Mbagnik Guèye, this campaign should develop new skills and behaviours and allow customers to manage their money more efficiently, while obtaining a better knowledge of financial services and savings.

Waly Clément Faye, from the Senegalese Office of Microfinance, said during the workshop that he believes the country's microfinance sector is strong and in good shape, with 12 per cent of the population covered and outstanding loans of CFAF170 billion (€259,1 million), WalFadjri newspaper reports.
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