Outstanding loans granted by Senegal’s decentralized financial systems (SFD) to customers at the end of the first quarter of 2020 increased by FCFA 28.8 billion (43.200 million euros), based on data from the Dakar-based DFS Regulatory and Oversight Directorate (DRS/SFD). By Rewmi.
This outstanding amount was FCFA 429.10 billion during the period under review, compared to FCFA 400.30 billion in the first quarter of 2019, an increase of 7.2%. However, compared to its level of FCFA 440.10 billion in the fourth quarter of 2019, SFD loans outstanding decreased slightly by 2.5%.
On a quarterly basis, the stock of these deposits decreased slightly by 0.3%, from FCFA 363.90 billion in the fourth quarter of 2019 to FCFA 363.1 billion in the first quarter of 2020.
The DFS partnership stood at 3,474,360 in the first quarter of 2020 compared to 3,294,524 in the first quarter of 2019, an increase of 179,836 members.
Compared to the fourth quarter of 2019 when it stood at 3,434,345, Senegal’s DFS membership is up by 40,015 members.
Indexed to the population, the DFS penetration rate was 21.4% or 1.1 point higher than at the end of March 2019.