Credit institutions landscape
As of 30 September 2024, the Union's banking system comprises 160 credit institutions authorised since the end of June 2023. The banking landscape is made up of 135 banks, including 23 branches, and 25 financial institutions of a banking nature, including 5 branches. Their distribution, by country, is as follows :
Table n°1 : Landscape of approved credit institutions as of September 30, 2024
| Country | Banks | Éfinancial establishments in banking character | Total (a+b) | ||
|---|---|---|---|---|---|
| Total(a) | including Branches | Total (b) | including Branches | ||
| Benin | 14 | 2 | 1 | - | 15 |
| Burkina | 16 | 2 | 4 | 1 | 20 |
| Ivory Coast | 28 | 2 | 4 | 2 | 32 |
| Guinea-Bissau | 6 | 3 | - | - | 6 |
| Mali | 14 | 1 | 2 | 1 | 17 |
| Niger | 14 | 4 | 6 | - | 20 |
| Senegal | 29 | 6 | 3 | 1 | 33 |
| Togo | 14 | 3 | 3 | - | 17 |
| UMOA | 135 | 23 | 25 | 5 | 160 |
Source : General Secretariat of the WAMU Banking Commission
At the end of September 2024, 26 banks were listed on the list of systemically important banking institutions (EBIS) at the national level.
Landscape of financial companies
At the end of the first nine (9) months of 2024, the banking system of The Union has 19 financial companies as on 31 December 2023. It includes 15 financial holding companies and 4 intermediate financial holding companies. Their distribution, by country, is as follows :
Table 2 : Number of financial companies by country as of 30 September 2024
| Country | Financial holding companies (a) | Intermediary financial holding companies (b) | Total (a+b) |
|---|---|---|---|
| Benin | - | - | - |
| Burkina | 2 | - | 2 |
| Ivory Coast | 7 | 2 | 9 |
| Guinea Bissau | - | - | - |
| Mali | - | - | - |
| Niger | - | - | - |
| Senegal | 2 | 2 | 4 |
| Togo | 4 | - | 4 |
| UMOA | 15 | 4 | 19 |
Source : General Secretariat of the WAMU Banking Commission
Landscape of Decentralized Financial Systems
Microfinance activity is governed by the Uniform Law regulating decentralized financial systems (SFD) and its implementing texts. According to the provisions of Article 44 of this law and those of Instruction No. 007-06- 2010 of June 4, 2010 of the BCEAO relating to the methods of control and sanction by the Central Bank and the Banking Commission, the Issuing Institute and the Community banking supervision body shall, after informing the Minister, control any decentralized financial system whose level of activity reaches a threshold of two (2) billion in outstanding deposits or credits at the end of two (2) consecutive financial years. Other SFDs that have not reached this activity threshold are supervised by the Ministries responsible for Finance of each State.
Based on the accounting data received, the number of SFDs covered by Article 44 increased by 26 units to 286 institutions compared to 261 for the previous list. As a reminder, an SFD in Niger was withdrawn following the dissolution ratified by Order n°000223/MEF/SG/ARSM of June 5, 2024 withdrawing the approval of SFD TAANADI SA.
Table n°3 : Number of SFDs falling under Article 44 as of December 31, 2024
| Country | Basic funds affiliated with a network | Total | ||||
|---|---|---|---|---|---|---|
| Companies | Associations | Networks | IMCEC unaffiliated | |||
| Benin | 5 | 6 | 3 | 7 | 19 | 40 |
| Burkina | 11 | 2 | 3 | 5 | 26 | 47 |
| Ivory Coast | 11 | - | 2 | 5 | 23 | 41 |
| Guinea-Bissau | - | - | - | - | - | - |
| Mali | 4 | 6 | 4 | - | 11 | 25 |
| Niger | 2 | - | 1 | 1 | - | 4 |
| Senegal | 7 | - | 4 | 5 | 66 | 82 |
| Togo | 3 | 3 | 5 | 20 | 16 | 47 |
| UMOA | 43 | 17 | 22 | 43 | 161 | 286 |
Source : BCEAO
As of 31 december 2024, there are 66 deployments of financial services via mobile telephony in the Union. These services are offered by :
- 49 banks, in partnership with telecommunications operators;
- 14 electronic money institutions (EMIs);
- 1 decentralised financial system (SFD);
- 2 National Public Treasuries.
By virtue of its powers, the Banking Commission supervises EMEs, within the framework of the protection of customer funds and the promotion of financial inclusion. The number of these subject entities stood at 14 at the end of december 2024.
Table No. 4: Number of EMEs as of december 31, 2024
| Country | Electronic money institutions (EME) |
|---|---|
| Benin | 3 |
| Burkina | 1 |
| Ivory Coast | 3 |
| Guinea Bissau | 1 |
| Mali | 2 |
| Niger | 1 |
| Senegal | 3 |
| Togo | - |
| UMOA | 14 |
Source : General Secretariat of the WAMU Banking Commission
