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The Role of Stakeholders in the Historical Evolution of Microfinance in Togo

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  • Arvind Ashta
  • Isabelle Demay
  • Mawuli Couchoro

Abstract

The paper traces the evolution of The Microfinance Sector of Togo over the half century from its independence in 1960 to 2010. The methodology uses oral histories, consisting of a round table discussion with heads of Microfinance Institutions as well as regulatory, supervisory and financing institutions and academics, followed by semi-structured individual interviews. We compare their diverse perspectives with the few archives and data that exist. We find seven stages in the development of microfinance from an unorganized sector consisting of tontines and usurious money-lenders in the 1960s to a considerably organized sector dominated by credit unions (COOPECs) and NGOs. The unorganized sector continues to play a role and the regulatory authority intervenes to protect the masses from unscrupulous and inefficient operators.

Suggested Citation

  • Arvind Ashta & Isabelle Demay & Mawuli Couchoro, 2016. "The Role of Stakeholders in the Historical Evolution of Microfinance in Togo," Economic History of Developing Regions, Taylor & Francis Journals, vol. 31(2-3), pages 303-344, September.
    • Handle: RePEc:taf:rehdxx:v:31:y:2016:i:2-3:p:303-344
    DOI: 10.1080/20780389.2015.1114413
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    1. Jan Luiten van Zanden & Jaco Zuijderduijn & Tine De Moor, 2012. "Small is beautiful: the efficiency of credit markets in the late medieval Holland," European Review of Economic History, European Historical Economics Society, vol. 16(1), pages 3-22, February.
    2. Mr. Rodolphe Blavy & Mr. Anupam Basu & Mr. Murat  Yulek, 2004. "Microfinance in Africa: Experience and Lessons From Selected African Countries," IMF Working Papers 2004/174, International Monetary Fund.
    3. Peter L. Rousseau, 2003. "Historical perspectives on financial development and economic growth," Review, Federal Reserve Bank of St. Louis, vol. 85(Jul), pages 81-106.
    4. Sharma, Manohar, 2000. "Microfinance," MP05 briefs 0, International Food Policy Research Institute (IFPRI).
    5. Rajeev Dehejia & Adriana Lleras-Muney, 2003. "Why Does Financial Development Matter? The United States from 1900 to 1940," NBER Working Papers 9551, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Mawuli Kodjovi Couchoro, 2019. "La place des mecanismes d’epargne-credit et de pret progressif dans la selection des clients des IMF en milieu urbain : le cas de WAGES en 2010," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 31(2), pages 314-331, April.
    2. Arvind Ashta & Surender Mor, 2022. "Is Microcredit a Reverse Innovation?," FIIB Business Review, , vol. 11(2), pages 225-234, June.
    3. Arvind Ashta & Chandralekha Ghosh & Samapti Guha & Frank Lentz, 2021. "Knowledge in Microsocial Milieus: the Case of Microfinance Practices Among Women in India," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(1), pages 146-165, March.
    4. Komlan Gbongli & Yongan Xu & Komi Mawugbe Amedjonekou, 2019. "Extended Technology Acceptance Model to Predict Mobile-Based Money Acceptance and Sustainability: A Multi-Analytical Structural Equation Modeling and Neural Network Approach," Sustainability, MDPI, vol. 11(13), pages 1-33, July.
    5. Mohamedou Bouasria & Arvind Ashta & Zaka Ratsimalahelo, 2020. "Bottlenecks to Financial Development, Financial Inclusion, and Microfinance: A Case Study of Mauritania," JRFM, MDPI, vol. 13(10), pages 1-28, October.
    6. Komivi Afawubo & Messan Agbaglah & Mawuli K. Couchoro & Tchapo Gbandi, 2017. "Socioeconomic determinants of the mobile money adoption process: the case of Togo," Cahiers de recherche 17-03, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.

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