Most of them have the land but lack financial resources. They all call for funding. But generally, the conditions at the banks or microfinances discourage them. 

Togolese government has decided to abase the interest rate to 5% through MIFA.

To collect their views about the issue, Agridigitale met banks and microfinances. 

This is for you their Avowals.

The Banks

All of the banks finance agricultural projects but the method differs from one bank to the other.

BTCI

They are exclusively specialised in the funding of projects originated from the government. It is the case of PAIEJ-SP and PNPER (at its beginning).

ORABANK

It is one of the active banks in the domain of the funding of agriculture. They Finance the agricultural sector with more than 2 billion. But the decision of funding comes from the institutional administration. Basically, they finance big firms like Microfinances and NSCT.

BSIC

They have only financed NSCT, but since the beginning of this year, they have decided to go beyond.

BIA TOGO

There is no special programme for agriculture. But they do not trust producers because of the risks.

Microfinances

Softer than the banks, they are more present beside the producers.

SOGEMEF

In terms of caution, they demand less. They are in partnership with peasants’ organisations.

FECECAV

All the actors of the agricultural domain are welcome. But the only condition is to be member. After that, one can benefit from a credit with an abatement of 1.5%. With them, the registration of bike can serve for caution. They are in collaboration producers, organisations of producers, ESOP…

PROMOFINANCE, champion of credits in Kara

It covers all the region of Kara. It helps SCOOPS and small companies through FNFI and PNPER programs. A part from these projects, they offer credits to their members with the only condition that is to have at least 30% of the amount in one’s account.

COOPEC AD wants to do better

They have an amount destined to the agricultural sector. They would like to do better but they don’t have much money. They were specialised in short term credits but thanks to PAIEJ SP, they went to middle term credits.

FUCEC, the Dean

They have been accompanying the sector for 50 years. Thanks to their experiences beside the producers, the have agricultural experts who follow their clients. 60% of their credit’s budget, is for agriculture.

Conclusion

With all these, can we still expect from banks and microfinances abatements on the interest rate?

The answer in the second part of this folder next week.

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