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Professional Association of Decentralized Financial Systems of Burkina Faso (AP/SFD-BF)

Historically, the Professional Association of Decentralized Financial Systems of Burkina Faso (AP/SFD-BF), formerly the Professional Association of Microfinance Institutions in Burkina Faso, was founded on Friday, June 28, 2002.

It changed its name following a review of its statutes and internal regulations during the Extraordinary General Meeting of December 17, 2010, in order to comply with Law No. 23-2009/AN regulating microfinance institutions in Burkina Faso.

The Association brings together all Decentralized Financial Systems (DFS) operating throughout Burkina Faso.

The Association pursues the following objectives:

To promote and defend the collective interests of its members;
To foster cooperation among members;
To provide training for members;
To organize and manage services of common interest to its members;
To inform the public about the activities and initiatives undertaken within the framework of its mission.

The Professional Association of Decentralized Financial Systems of Burkina Faso (APSFD-BF) aims to defend the material and moral interests of the profession and strengthen the capacities of its members by offering quality services tailored to their needs.

“To be an association of excellence in Africa, defending the interests of its members while offering them innovative and adapted services within a framework of financial inclusion.”

CIF Life Insurance Burkina

CIF Assurances-Vie Burkina is a public limited company specializing in life insurance with a board of directors, governed by the insurance code of the Inter-African Conference of Insurance Markets (CIMA), and established on September 15, 2012. On October 22, 2012, the company received approval from the Regional Insurance Control Commission to conduct life insurance and capitalization operations in Burkina Faso.

The company was officially licensed on December 4, 2012, by the Ministry responsible for the insurance sector.

On January 1, 2013, CIF-VIE Burkina launched its operations across all sales outlets of the Burkina Faso People’s Credit Union Network (RCPB).
In 2017, the company expanded its distribution channels to include Decentralized Financial Systems (SFDs).
In 2018, it signed distribution agreements with traditional banks.

The company’s share capital is 5 billion CFA francs fully paid up, represented by 500,000 ordinary shares distributed among six (6) shareholders.

Confederation of West African Financial Institutions (CIF)

The Confederation of West African Financial Institutions (CIF) is a regional grouping of financial cooperatives, founded on the solidarity of six (06) major savings and credit umbrella organizations spread across five (05) countries in the WAEMU region.

The CIF cooperative network is committed to the professionalization and development of its member networks, with the aim of improving financial and social performance, the accessibility of financial services, and the protection of its members’ assets.

To consolidate and improve financial and social performance indicators, the CIF is committed to supporting its member networks and addressing the sector’s key challenges by improving:

the accessibility and availability of mass financial products and services, combined with specialized financial services
financial performance, through operational profitability and required capitalization
productivity through process improvements
monitoring, supervision, and financial transparency
of the adaptation of entities to the evolution of the microfinance industry.