Country
Togo

Local project partner
Société des Postes du Togo (SPT)

German project partner
-- 

Donor
German Federal Ministry for Economic Cooperation and Development (BMZ)

Duration
01.05.2022 - 30.06.2025

The starting point of the project is the limited access to financial services outside the economic centers due to an insufficient banking infrastructure. This is especially true for poorer, older or insufficiently educated population groups as well as for micro enterprises.

The consequences of this lack of access are the failure to exploit economic potential, for example as micro-entrepreneurs or farmers, limited participation in economic exchange, lack of savings opportunities and thus continued risk of poverty. Likewise, the many public initiatives to provide information, education, solar energy or other support programs require a financial infrastructure. There is a need for financial institutions that are present on site to provide advice and suitable products, and that bridge the gap between the state's capital and rural areas by using language that is appropriate to the target group.

The overall objective of the project is to improve financial inclusion in Togo and thus contribute to social and economic development. The specific project objective is to enable the Société des Postes du Togo (SPT) to offer loans and other financial services outside the economic centers on a sustainable basis for use by the general population and small entrepreneurs.

Tasks

The Togolese postal service is an important provider of financial services in the country. In order to achieve the overall objective and the project objective of sustainable financial services, the following project results are targeted:

1. The financial services division of SPT fulfils the organisational, corporate and licensing requirements for starting the lending business.
2. The quality of the advisory services and sales are improved by qualified employees and modern infrastructure.
3. SPT has segmented its target groups, newly developed or further developed products, particularly in the lending area, and actively offers them.