Project profile — Microfinance Data Processing Centres in Senegal

• Senegal (100.00%)

• Formal sector financial intermediaries:
Formal sector financial intermediaries (24030) (85.00%)
Education/training in banking and financial services (24081) (15.00%)

• Gender equality (significant objective)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (not targeted)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Urban issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• ICT as a tool for development (significant objective)

This project is designed to provide Senegal with modern, affordable and computerized services for microfinance institution members. Development International Desjardins (DID) aims to establish one computerized data processing centre to help modernize these operations in 36 community-based financial institutions, located mainly in rural areas of Senegal.

N/A

Results achieved as of the end of project (March 2014) include: (1) a microfinance data processing centre (CTI) was created in Dakar, which is now an independent entity managed by an entirely Senegalese board of directors; (2) the centre has become 60% financially self sufficient; (3) 72 institutions were computerized, at 221 sites, with 190,000 members (53% of women), far exceeding the project’s initial targets (by 113%, 135%, 109% and 40% respectively). It represents 35% of Senegal’s microfinance service points and approximately 10% of Senegalese clients; and (4) 409 employees from microfinance institutions (the goal was 300) were trained on how to use data processing in banking transactions, as well as 571 administrators and managers of member institutions on how to interpret financial reports available to them after computerization. These results help to improve the processing of transactions, as well as the security and performance of Senegal’s microfinance sector.

• Proactive disclosure