Creditinfo VoLo signs subscriber’s contracts for service delivery of the Credit Bureau in Togo

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La base du crédit de confiance

PRESS RELEASE     Lomé, Jun 28th 2016     

For French version  of Press Release, please click here

Under the aegis of the  BCEAO National Directorate  for Togo, and in the presence of Professional Associations of Banks and Financial Institutions (ABPEF) and microfinance institutions (APSFD) of Togo, was held this day, a ceremony for the signing contracts for the provision of services between on the one hand, the Credit Bureau (BIC) of the WAMU, Creditinfo VoLo , and, on the other hand, the 21 regulated institutions of Togo, including 13 banks, 2 financial institutions and 6 microfinance institutions (See list in the Annex below).

Mr. Kossi TENOU, BCEAO National Director for Togo, has chaired the signing ceremony. The professional associations were represented by Mr. Michel K. DORKENOO, President of the APBEF and Mr. Yombo ODANOU, President of the APSFD, Creditinfo VoLo by Mr. Adamou SAMBARE, Director General.

«This ceremony expected since the enactment of the Uniform Act on 14 March 2016 in Togo, constitutes a major step that should allow regulated institutions of Togo to participate actively to sharing of data with the Bureau Credit of the WAMU,” said Mr. TENOU”. The attendance of the all regulated institutions within the country shows definitely the interest and the importance of joining the BIC for the banking place of Togo. In fact, the BIC is a complementary tool that will contribute significantly to the reduction of risks and a substantial improvement of the quality of the credit portfolio of financial institutions. I therefore urge all the actors in the financial sector, to resolutely pursue the work begun with Creditinfo VoLo since several months in order to make their processes and information systems compatible with the requirements of the Bic”.

Since the official start of the operations in February 2016, the BIC, through an intensive assistance program allowed subjected institutions to five countries of the Union to pass the qualification tests required for stowage.” As such, Mr. SAMBARE said, “it should be noted the exceptional performance recorded by the Ivorian financial institutions that registered at the end of May 2016, nearly 700,000 credit contracts declared in the base of the BIC, allowing the Ivory Coast to respect the criterion of Doing Business on credit information. “However, major challenges remain to be met by the BIC, which include the first row, the problem of identification of credit recipients customers in the EU states’  “However, , among which figure in the first row, the problem of the identification of customers beneficiaries of credit in the States of the Union

Mr. DORKENOO, President of the APBEF Togo has, in his speech, insisted on “the need for a close cooperation with the BIC in order to finalize as soon as possible the upgrade work of credit institutions then enable them to reduce the delays accused compared to colleagues from other states within the zone. He also emphasized on the main expectations of banks, particularly related on the quality of credit reports.


For his part, Mr. ODANOU, President of the APSFD Togo, has indicated that “the BIC will enable microfinance institutions to improve the rate of reimbursement of their members and to better appreciate their state of indebtedness at the time of the granting of a credit and therefore to prevent the debt overhang of the customers. However, he has highlighted the special feature of the MFIs which require greater flexibility from the BIC in the light of the quality of their information systems”.

Remember, Creditinfo Volo is a joint venture created by Creditinfo and Volo Africa. Received, by decree No. 066 / MPMEF / DGTCP / DT, of 12 May 2015 from the Ministry nearby the Prime Minister in charge of the Economy and Finance of Ivory Coast , the approval as the of Credit Bureau (BIC) in WAMU. Exercising under the regime of single authorization which enable it to operate in other states where WAMU settled representative offices.

The BIC is an institution collecting from financial institutions, public sources and major billers (of water, and electricity supply companies, phone companies, etc.), data on credit history or payment from a customer. These information are then processed and marketed to banks, financial institutions, decentralized financial systems (SFD) and utility companies, in the form of very detailed credit reports.

The credit information sharing system is able to handle both positive data (information on outstanding loans per beneficiary, sectoral distribution of credit, etc.) and negative information (amount of payment defaults, credit written off, number of delinquencies, rescheduling of loans, etc.) obtained from banks, financial institutions, microfinance institutions supervised by the BCEAO and the future of non-banks (MFIs other than those supervised by BCEAO, telecommunications companies, retailers, electricity and water supply companies and, etc.).

For funding applicants’, the BIC provides better accessibility to credit with a rating based on individual risks that can lead to lower credit costs and easing usually requested guarantees.

For credit institutions, the SFD and other financial institutions concerned, it is an effective tool for analysis, assessment and management risk, which allows to anticipate the indebtedness of borrowers and thus to consolidate their portfolio.

For the national economy, it contributes to strengthening the financial inclusion thanks to the improvement of low cost economic agents’ behavior, due to its benefits for borrowers and lenders.


Contacts :

Creditinfo VoLo    APBEF Togo  APSFD Togo
Joseph Dodji GBEGNONConseillerTél : +225 20 22 56 Martin Koffi EZADirecteur ExécutifTél. : +228 22 25 56 Ange Kossivi KETORDirecteur ExécutifTel: +228 22 25 50 75



  1. Bank Of Africa (BOA-T)
  2. Banque Atlantique (BAT)
  3. Banque Internationale pour l’Afrique (BIA-T)
  4. Banque Togolaise pour le Commerce et l’Industrie (BTCI)
  5. Banque Populaire pour l’Epargne et le Crédit (BPEC-T)
  6. Banque Sahélo-Saharienne pour l’Investissement et le Commerce (BSIC-T)
  7. Coris Bank International  (CBI-T)
  8. Diamond Bank 
  9. Ecobank
  10. Orabank
  11. Société Générale
  12. Société Inter Africaine de Banque (SIAB)
  13. Union Togolaise de Banque (UTB)
  14. Caisse Régionale de Refinancement Hypothécaire (CRRH-UEMOA)
  15. Fonds de Garantie des Investissements Privés en Afrique de l’Ouest (Fonds GARI)
  16. Faîtière des Unités Coopératives d’Epargne et Crédit (FUCEC)
  17. Coopérative d’Epargne et de Crédit des Artisans (CECA)
  18. Coopérative d’Epargne et de Crédit de l’Eglise des Assemblées de Dieu (COOPEC AD)
  19. Union des Mutuelles d’Epargne et de Crédit du Togo (UMECTO)
  20. Union Rénovée des Caisses Locales d’Epargne et de Crédit (URCLEC)
  21. Women’s Action to Gain Economic Security (WAGES)


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French version Press Release