Question 1

What is Confédération des Institutions Financières (CIF-AO)?

Accepted Answer

Confédération des Institutions Financières (CIF-AO) is a regional confederation of cooperative financial institutions based in Burkina Faso. It represents the first federating movement of cooperative microfinance institutions and business units committed to financial inclusion in the WAEMU (West African Economic and Monetary Union) sub-region. The confederation serves as a unifying body for six major national federations of savings and credit cooperatives across five West African countries, facilitating access to financial products and services for sectors excluded from conventional financing systems.

Question 2

When was Confédération des Institutions Financières (CIF-AO) founded?

Accepted Answer

CIF-AO was established on June 1, 2007, in Ouagadougou, Burkina Faso. The confederation received official approval on December 17, 2007, under registration number A-13070367, and officially launched its activities on May 21, 2010. The institution evolved from a joint-stock company called Centre d'Innovation Financière (CIF-SA), which was originally focused on researching innovative financial products and services. This transformation represented the culmination of a long process of reflection and maturation among the six founding cooperative federations.

Question 3

Where is Confédération des Institutions Financières (CIF-AO) headquartered?

Accepted Answer

CIF-AO's headquarters is located in Ouagadougou, the capital city of Burkina Faso. The institution maintains its central administrative offices in this strategic location within the WAEMU economic zone, positioning itself to coordinate activities across its member networks throughout West Africa.

Question 4

Where does Confédération des Institutions Financières (CIF-AO) operate?

Accepted Answer

CIF-AO operates throughout Burkina Faso and coordinates activities across the broader WAEMU zone. The confederation's presence in Burkina Faso is primarily through its member institution, the Faîtière des Caisses Populaires du Burkina (FCPB), which represents the largest microfinance institution in the country. The confederation maintains numerous service points distributed across Burkina Faso's regions, serving both urban and rural populations throughout the national territory.

Question 5

What services does Confédération des Institutions Financières (CIF-AO) offer?

Accepted Answer

CIF-AO facilitates a comprehensive range of financial and non-financial services through its member institutions. These services include savings products, credit facilities, micro-insurance, money transfer services, and various other financial products. The confederation specifically targets sectors traditionally excluded from conventional banking, such as small-scale agriculture, livestock farming, fishing, artisanal crafts, and small enterprises. CIF-AO also provides capacity-building services, regulatory compliance support, and innovation initiatives to strengthen its member networks. The institution offers payment services through La FINAO, its banking subsidiary established in 2017, which holds payment and lending licenses to issue electronic money and develop priority sectors.

Question 6

What makes Confédération des Institutions Financières (CIF-AO) unique?

Accepted Answer

CIF-AO stands as the only confederation in West Africa dedicated to ensuring cohesion among cooperative and mutual savings and credit institutions while promoting their evolution toward accessible, quality financial services. The institution's pioneering approach concretizes the vision of West African regional integration in microfinance. Its unique structure brings together six major national federations—FCPB from Burkina Faso, FECECAM from Benin, FUCEC-TOGO from Togo, KAFO JIGINEW and NYESIGISO from Mali, and UM-PAMECAS from Senegal. The confederation's motto, "Faire autrement, ensemble, pour rendre les futurs possibles" (Doing differently, together, to make futures possible), reflects its commitment to solidarity and innovation in serving small producers, women, and youth.

Question 7

What type of financial institution is Confédération des Institutions Financières (CIF-AO)?

Accepted Answer

CIF-AO is classified as a confederation of cooperative and mutual microfinance institutions (Système Financier Décentralisé - SFD) under WAEMU regulations. Specifically, it falls under the category of institutions covered by Article 44 of the law governing decentralized financial systems in the UMOA zone. As a cooperative confederation, it operates on principles of solidarity, mutual assistance, and democratic governance, serving as an umbrella organization that coordinates, supports, and represents its member cooperative networks. This institutional structure aligns with Burkina Faso's regulatory framework for microfinance institutions supervised by the Banking Commission of WAEMU (Commission Bancaire de l'UMOA).

Question 8

What is CIF-AO's mission and vision?

Accepted Answer

CIF-AO's mission focuses on promoting financial inclusion, ensuring regulatory compliance, and fostering cooperation and synergies to guarantee the sustainability and profitability of cooperative and mutualist financial networks, particularly its members. The confederation aims to contribute significantly to financial inclusion and socio-economic development of UEMOA populations through viable and responsible financial cooperative networks offering adapted and accessible services.

Looking toward 2025 and beyond, CIF-AO envisions becoming the reference actor for financial inclusion and innovation in Africa, centered on solidarity economy financing and customer experience, continuously adapting to technological changes. The confederation positions itself as the leading force for inclusive finance in West Africa.

Question 9

What impact does CIF-AO have in the UEMOA region?

Accepted Answer

CIF-AO facilitates financial inclusion for millions of members across the WAEMU zone through its extensive network of service points distributed across five countries. The confederation represents six cooperative and mutual savings and credit institutions operating throughout West Africa, making it a significant player in regional microfinance. Through its coordinated approach, CIF-AO strengthens the capacity of local cooperative networks to serve populations excluded from classical banking systems, particularly in rural areas where conventional banks have limited presence.

Confédération des Institutions Financières (CIF-AO)

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About Confédération des Institutions Financières (CIF-AO) in Burkina Faso

Conféd­ération des Instit­utions Financières (CIF-AO)