The Micro Finance sector with its network of credit houses has a total membership of over 2,452 as at March 31st 2011. Total savings mobilized rose from 167,038,320 Cfa in December 31st 2010 to 190,658,638 Cfa in March 31st 2011, giving a growth rate of 12%. Total owned capital rose from 13,869,225FRS Cfa in December 2010 to 14,401,881FRS Cfa as at March 31st 2011, an increase of 532,656 FRS Cfa giving a percentage growth rate of 3.8% with a COBAC acceptable net equity ratio of 10.4%
NOWEFOR Contracted the services of CEMED: center for micro finance and micro enterprise development; a consultancy firm to back stop the functioning and activities of the credit houses of the scheme. 40 persons including the management committee members and the zonal management committee members of the credit houses have been trained on good relationship skills and loan refinancing management. The loan recovery rate of the recovery team put in place by NOWEFOCH is at 91% as of December 2010.