This last March, a data sharing agreement was signed between Creditinfo Volo, a credit bureau (BIC) operating within the West Africa Monetary Union (WAMU), and 26 Benin institutions, including 15 banks and 11 large microfinance institutions.
Benin is the final country from the 8 members of the WAMU to introduce credit information sharing and the agreement is expected to contribute to the strengthening and to the increased efficiency of credit management in the whole region.
The agreement was supported by the BCEAO National Direction for Benin and involved the presence of the Professional Associations of Banks and Financial Institutions (ABPEF), as well as the APSFD-Consortium Alafia, the association of microfinance institutions in Benin. The official ceremony was led by Mr. Servais ADJOVI, Chief Officer, representing the Minister of Economy and Finances of Benin, in the presence of Mr. Alain KOMACLO, BCEAO National Director for Benin. The Professional Associations were represented by Mr. Faustin AMOUSSOU, Vice President of APBEF-Benin, Mr. Emmanuel GAHOU, President of the Consortium ALAFIA. Creditinfo Volo was represented by its Managing Director, Mr. Adamou SAMBARE.
Creditinfo Volo is a licensed Credit Bureau (BIC) offering services within the West Africa Monetary Union (WAMU). It is a subsidiary of Creditinfo headquartered in Reykjavik, Iceland, which provides credit information and risk management solutions worldwide with the aim of facilitating financial inclusion and economic growth.