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WAGES is now one of Togo’s leading microfinance institutions. Through its commitment to micro-entrepreneurs and very small businesses, particularly in the commercial sector, the microfinance institution plays an important role in the country’s social development. It offers credit and savings products to over 15,000 borrowers and more than 90,000 savers.
Togo is a low-income country facing numerous development challenges. It ranks 162nd out of 189 countries on the Human Development Index (HDI), with an HDI of 0.512 and a poverty rate of almost 50%. Microfinance institutions play an essential role in financing the informal economy and strengthening financial inclusion.
WAGES has a dual focus: (1) it works with grassroots communities by offering them small loans or group loans; (2) it provides long-term support to its customers, in particular by adapting its lending policy to their needs. The institution also pays particular attention to the financial inclusion of women, who make up more than 50% of its customers.
