As part of the implementation of the microfinance sector reform, a capacity-building training session for trainers is being held in Saly. The meeting, initiated by the Ministry of Microfinance and Social and Solidarity Economy, aims to enable participants to better understand the law regulating microfinance institutions and then popularize it among field stakeholders.

The training focuses on understanding the legal framework, approval procedures, obligations of microfinance institutions, internal governance, user protection and the sanctions provided for in the event of non-compliance.

Mamadou Ndiaye, Chief of Staff to the Minister of Microfinance and Social and Solidarity Economy, presented the broad outlines of the ongoing reform in the microfinance sector. Driven by a new OHADA community law, this reform replaces the system in effect since 2008 and aims to consolidate and strengthen the role of microfinance in economic and social inclusion.

According to Mr. Ndiaye, one of the major innovations is the streamlining of the legal statuses of institutions, now limited to two: cooperative society or public limited company. The reform also provides for a streamlined supervisory system better adapted to the capacities of microfinance structures. Another important change is that the term "microfinance institutions" replaces that of "decentralized financial systems (DFS)," which is considered difficult to understand by the population.

Despite a difficult economic context, the sector is doing well and even constitutes a means of resilience and social stabilization.

"Currently, nearly 4.5 million Senegalese, or 20% of the population, have access to financial services through microfinance. Without this sector, the situation would be much more critical," insisted Mamadou Ndiaye, recalling that the President of the Republic considers microfinance to be the best lever for fighting poverty.

Another major direction: the state will no longer distribute credit directly, but will channel funds through banks and microfinance institutions. This mechanism should make it possible to preserve at least 80% of committed resources, compared to only 30% under the old system.

Finally, Mr. Ndiaye sees the development of mobile money and digitalization as an opportunity to strengthen trust, improve transparency and promote even broader financial inclusion of populations.