What UMECTO Microfinance does

UMECTO (UNION DES MUTUELLES D'EPARGNE ET DE CREDIT DU TOGO) is a Togolese microfinance institution organized as a network of 8 mutually-owned savings and credit cooperatives (mutuelles), founded in 1997 by Canadian NGO SOCODEVI and operating under official agrémont T/1/GFLM/2001/0066A. The institution provides financial inclusion services to approximately 71,000 members across Togo, with a primary focus on women in the informal sector, supplemented by youth, salaried employees, traders, farmers, and community groups. The portfolio spans five product categories: six savings products (Epargne Volontaire, UMECTO-BANKVI, Mon Avenir youth savings, Compte Bloqué time deposits, Tontine DZRANOUDO, and term tontines DZRANOUDO-3-6-12); twelve credit products (commercial, investment commercial and non-commercial, tontine credit, FNFI group, group, agricultural, opportunity, storage, salary, school, market pre-financing, and conventional); international remittances via Western Union, MoneyGram, Ria, Small World, and Rapid Transfer; and digital banking services including Android mobile banking, SMS banking, web banking via partner ebindoo.com, and USSD-based mobile money integration with both Togolese operators (Flooz via *155# and Tmoney via *145#).

The business model is a non-profit mutual/cooperative structure earning revenue through interest income on diverse credit products (e.g., 1.5% monthly on school credit), savings mobilization (paying 3.5%-5% on deposits and tontine contributions), money transfer commissions, and digital service fees. Distribution operates through 26+ service points across Togo (Lomé, Tsévié, Kara, Dapaong, Sokodé, Tabligbo, Mango) with extended hours since March 2024 covering lunch breaks and Saturdays, supplemented by field credit agents conducting community outreach and home visits. GTM combines community-led acquisition (tontine groups, women's networks, mutual solidarity structures), direct branch service, and event participation (SAM, APSFD-TOGO, Gala des Professionnels de la Microfinance).

The underlying technology stack is functional rather than differentiated: a third-party web banking platform (ebindoo.com), a basic Android mobile application, SMS notification service, and USSD integrations. No AI/ML capabilities, no proprietary scoring models, and no advanced data assets are disclosed. Recent strategic moves have emphasized organic geographic expansion (new Gboto agency May 2025), recurring seasonal product launches (annual School Credit), and digital channel buildout rather than technology-driven differentiation.

Name

UMECTO Microfinance

Legal name

UNION DES MUTUELLES D'EPARGNE ET DE CREDIT DU TOGO

Website

https://umecto.tg

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

UMECTO is a Togolese mutual microfinance network of 8 cooperatives serving 71,000+ members across 26 branches, providing savings, credit, remittances, and mobile banking to women, informal sector workers, youth, and farmers in Togo.

Ownership category

akta.pro rank

Product category

Microfinance

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Credit Unions (52213)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

SME, Microfinance & Financial Inclusion Facilities (BPADACAI)

akta.pro secondary industries

Financial Inclusion & Consumer Empowerment (Banking Access, Credit Building) (BPAGALAJ), Agricultural & Rural Development Banks (FSABAKAE)

Keywords

• Microfinance services
• Savings products
• Microcredit lending
• Mobile money transfers
• Financial inclusion

Headquarters

HQ city

Lomé

HQ country

Togo

Offices15 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Interest Income on Loans: UMECTO earns interest income from its various credit products including commercial credit, investment credit, tontine credit, agricultural credit, salary credit, and school credit. Interest rates vary by product, e.g., school credit at 1.5% per month.
2. Savings Mobilization: Members deposit savings through voluntary savings, blocked accounts, and tontine contributions. UMECTO pays interest on savings (e.g., 3.5% on BANKVI, 3.75%-5% on blocked accounts) and uses these deposits to fund lending activities.
3. Money Transfer Services: UMECTO offers Western Union, MoneyGram, Ria, Small World, Rapid Transfer, and mobile money (Flooz/Tmoney) transfer services, earning commission on each transaction.
4. Digital Service Fees: Revenue from Mobile Banking, SMS Banking, and Web Banking services. Members pay fees for certain digital transactions and value-added services.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

UMECTO is a mutual microfinance institution offering savings products (voluntary savings, blocked accounts, term tontines, youth savings), a diverse credit portfolio (commercial, agricultural, salary, school, group, opportunity, investment credits), digital banking services (mobile, web, SMS, mobile money), and international money transfer agency services. The institution targets women, informal sector workers, salaried employees, youth, farmers, and groups across Togo, with a network of 26+ physical branches complemented by digital channels.

Product overview

UMECTO (UNION DES MUTUELLES D'EPARGNE ET DE CREDIT DU TOGO) is a microfinance institution organized as a network of mutual savings and credit organizations focused on women and financial inclusion in Togo. The product portfolio comprises five main categories: (1) Savings Products including Epargne Volontaire, UMECTO-BANKVI, Mon Avenir (youth savings), Compte Bloque (time deposits), and tontine products (DZRANOUDO and DZRANOUDO-3-6-12 term tontine); (2) Loan Products including Commercial Credit, Commercial Investment Credit, Non-Commercial Investment Credit, Tontine Credit, Group Credit (FNFI and regular), Agricultural Credit, Opportunity Credit, Storage Credit, Employee Credit, School Credit, Market Pre-financing Credit, and Conventional Credit; (3) Remittance Services including Western Union, MoneyGram, Ria, Small World, and Rapid Transfer; (4) Digital Banking Services including Mobile Money (T-Money and Flooz integration), SMS Banking, Mobile Banking (Android), and Web Banking (via partner ebindo.com). The institution operates 8 mutuals with 26 service points across Togo, serving approximately 71,000 members.

Differentiator

Problem solved

Functional benefit

Products and services

• Epargne Volontaire (Voluntary Savings) Voluntary savings product allowing populations to keep their savings safely, away from family pressures, with a passbook for verifying transactions and balance. Minimum deposit of 1,000 FCFA. Targets individuals, salaried workers, and businesses.
• UMECTO-BANKVI Planned-event savings product for weddings, baptisms, releases, and education with flexible contributions, no account maintenance fees, and instant withdrawal. Pays 3.5% annual remuneration from a balance of 10,000 FCFA.
• Mon Avenir Youth savings product for ages 1 to 18, including students and apprentices, to build savings for future projects. Parents, students, and apprentices can access credit for apprenticeship needs.
• Compte Bloque (Blocked Account) Time deposit savings account with a 6-month minimum term, earning 3.75%-5% negotiable annual interest. Minimum deposit of 10,000 FCFA, unlimited maximum balance. Offers advance possibility on time deposits and facilitates access to credit.
• Tontine DZRANOUDO Daily public savings collection system targeting people in the informal sector engaged in income-generating activities. Features secure savings, flexible monthly contributions, and access to credit.
• Tontine DZRANOUDO-3-6-12 Term-based tontine with commitment to access savings after 3, 6, or 12 months, earning ristourne bonuses. DZRANOUDO-3 (93 days, 1 contribution refund), DZRANOUDO-6 (186 days, 2 contributions), DZRANOUDO-12 (372 days, 4 contributions), DZRANOUDO-12+ (negotiable from 18 months, up to 6 contributions).
• Credit Commercial (Commercial Credit) Short-term credit (up to 12 months, exceptionally up to 24 months) for income-generating activities. Available to legal entities or individuals engaged in commercial activities.
• Credit d'Investissement Commercial (Commercial Investment Credit) Productive credit for starting, consolidating, or developing business activities through acquisition of equipment likely to generate income. Targets enterprises and individual entrepreneurs.
• Credit d'Investissement Non Commercial (Non-Commercial Investment Credit) Credit to acquire fixed assets (movable and immovable property) for personal purposes and other non-profit needs. Targets enterprises, groupings, and individuals.
• Credit Tontine Working capital credit for commercial or artisanal activities. Available to subscribers of the DZRANOUDO tontine product who must continue with the tontine until full credit repayment.
• Credit aux Groupements FNFI Credit granted to members engaged in income-generating activities who have completed all FNFI cycles and wish to continue as a group. Designed for FNFI beneficiary groups consolidating and developing their activities.
• Credit aux Groupements (Group Credit) Credit to groups (associations, groupings, unions, churches) engaged in income-generating activities. Requires opening a savings account and maintaining activity for 1 to 60 days.
• Credit Agricole (Agricultural Credit) Agricultural credit for members to purchase farming materials, inputs, livestock, or fishing equipment to develop crop, livestock, or fishing activities. Targets farmers and agricultural workers.
• Credit d'Opportunite (Opportunity Credit) Urgent and punctual credit to fulfill orders with service seekers (organizations, diplomatic corps, projects, state enterprises, private companies) for discovered market opportunities.
• Credit de Stockage (Storage Credit) Productive credit for members engaged in storage activities to consolidate and develop their activities and working capital.
• Credit aux Salaries (Employee Credit) Credit for employees to acquire assets and consumer goods (transportation, furniture, real estate, appliances). Requires formal employment contract and salary domiciliation with UMECTO.
• Credit Scolaire (School Credit)

Quantifiable outcome

• 71,000+ members served across 8 mutuelles
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• SOCODEVIcoreStrategic or Co-development Partner · 1 January 2001SOCODEVI established UMECTO and continues as a strategic partner. SOCODEVI is a Canadian organization supporting financial inclusion initiatives in Africa.
• APSFD-TOGO (Association Professionnelle des Systèmes Financiers Décentralisés du Togo)coreStrategic or Co-development PartnerUMECTO is a member of APSFD-TOGO, the professional association of decentralized financial systems in Togo. UMECTO participates in association events, annual general assemblies, and industry initiatives.
• ebindoo.comcoreTechnology or Integrationebindoo.com is the web banking platform partner enabling UMECTO members to access online banking services including balance consultation, transfers, and loan management.
• Western UnionminorChannel Partner/ Reseller/ DistributorInternational money transfer service available at UMECTO agencies for sending and receiving remittances.
• MoneyGramminorChannel Partner/ Reseller/ DistributorInternational money transfer service available at UMECTO agencies.
• RiaminorChannel Partner/ Reseller/ DistributorInternational money transfer service available at UMECTO agencies.
• Small WorldminorChannel Partner/ Reseller/ DistributorInternational money transfer service available at UMECTO agencies.
• Rapid TransferminorChannel Partner/ Reseller/ DistributorInternational money transfer service available at UMECTO agencies.
• Tmoney (Togocom)coreTechnology or IntegrationTogocom's mobile money service integrated with UMECTO for deposits and withdrawals. Access via *145# USSD code.
• Flooz (Moov)coreTechnology or IntegrationMoov's mobile money service integrated with UMECTO for deposits and withdrawals. Access via *155# USSD code.
• SAM (Salon pour l'Accès aux Services Financiers en Afrique)minorStrategic or Co-development PartnerUMECTO participates in the SAM event (African Microfinance Week) held in Lomé in October 2023. SAM is a major pan-African microfinance conference.
• CESALminorOthersCESAL is a training center used by UMECTO for staff training programs including LBC/FT (anti-money laundering) training.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Kafo Jiginew: Kafo Jiginew is a Malian microfinance network providing savings, credit, and financial services to women, farmers, and informal-sector workers. Directly comparable to UMECTO in cooperative/mutual structure, women-focused mission, and agricultural and group-lending products, though operating in Mali.
• Advans Group: Advans is a microfinance network operating across multiple African countries (including West/Central Africa) serving small businesses and low-income households with savings, credit, and digital services. Highly comparable to UMECTO on customer segment, product mix, and mission, though at materially larger scale and broader geographic footprint.
• PAMECAS (Partage avec Mutuelles d'Épargne et de Crédit au Sénégal): PAMECAS is a Senegalese mutual savings and credit network serving low-income populations with savings, credit, and financial inclusion products. Comparable to UMECTO in mutual/cooperative structure, mission focus on women and informal workers, and product breadth, though operating in Senegal rather than Togo.
• FINADEV (Financial Development): FINADEV is a West African microfinance institution group operating in Togo and other WAEMU countries with savings, credit, and remittance services for underserved populations. Highly comparable given shared Togolese/WAEMU geography and similar product suite targeting informal-sector and women borrowers.
• SIDI (Solidarité Internationale pour le Développement et l'Investissement): SIDI is a French social-impact investor providing capital and technical assistance to inclusive finance institutions across Africa and developing countries. Comparable to UMECTO in mission (financial inclusion for excluded populations, particularly women and rural communities) and product focus (microcredit and savings), though operating more as an investor than direct MFI.
• Baobab (formerly Réseau Baobab / Babyloan): Baobab is a pan-African microfinance holding serving unbanked and underbanked entrepreneurs across West Africa with savings, credit, and digital financial services. Directly comparable to UMECTO in target customer (micro-entrepreneurs, informal sector) and product suite, with multi-country presence.
• ACEP (Alliance de Crédit et d'Épargne pour la Production): ACEP is a West African microfinance network offering savings, credit, and digital financial services to micro-entrepreneurs and underserved populations in Senegal and other WAEMU countries. Directly comparable in customer segment, product offering, and WAEMU-zone regulatory environment.

Broad incumbents

• ProCredit Bank Africa: ProCredit Bank is a European-origin banking group with subsidiaries in several African countries serving SMEs and inclusive banking clients with deposits, credit, and digital services. Comparable to UMECTO on financial inclusion mission and small-business lending, but operates as a regulated commercial bank with broader product scope and capital base.
• Orange Money / Moov Money (mobile money operators): Orange Money and Moov Money are mobile money services (with Moov operating in Togo as Flooz) that increasingly compete with MFIs in payments, savings, and small credit. Relevant as competing/substituting distribution layer for the same underbanked Togolese customers UMECTO serves, and a key technology integration partner for UMECTO.

Others

• FNFI (Fonds National pour la Finance Inclusive): FNFI is Togo's national financial inclusion fund and a key partner that channels concessional credit through partner institutions like UMECTO. Not a direct competitor but a major institutional relationship shaping UMECTO's product and funding mix, comparable as a Togo-specific financial inclusion infrastructure player.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/umecto

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UMECTO Microfinance