Question 1

What is Millénium Microfinance?

Accepted Answer

Millénium Microfinance, commonly known as 2M, is a savings and credit cooperative operating as a decentralized financial system (Système Financier Décentralisé) in Togo. Founded in 2009, the institution specializes in microfinance services targeted at low-income populations, small and medium enterprises, and particularly focuses on promoting women's entrepreneurship.

As a member of Togo's microfinance sector, which includes over 70 recognized decentralized financial systems, Millénium Microfinance serves approximately 43,000 clients across the country. The institution is regulated under Togolese law N° 0095-014 of July 14, 1995, which governs mutual savings and credit cooperatives.

Question 2

When was Millénium Microfinance founded?

Accepted Answer

Millénium Microfinance was established on February 18, 2009, during a constitutive general assembly. The institution was founded by a group of business leaders, company directors, and professionals from various sectors who shared a commitment to supporting youth self-employment, strengthening economic activities for low-income populations, and promoting women's entrepreneurship.

The founding documents were submitted to the Ministry of Economy and Finance for approval under Law N° 0095-014 of July 14, 1995. Official recognition came on April 1, 2010, with ministerial decree N°092/MEF/SG/CAS-IMEC, registration number T/1/GFLM/228A. The institution's approval was later modified by decree N° 026/MEF/SG/CAS-MEC on January 23, 2020.

Question 3

Where is Millénium Microfinance headquartered?

Accepted Answer

Millénium Microfinance is headquartered in Lomé, the capital city of Togo. The institution maintains an agency in the Djagblé neighborhood, located approximately 100 meters from the EPP (Public Primary School) in Abolavémonou, with postal address BP 10260, Lomé.

Question 4

Where does Millénium Microfinance operate?

Accepted Answer

Millénium Microfinance operates primarily in Togo, with its main presence in the Maritime region where Lomé is located. The institution serves members throughout the country through its branch network and digital services.

The institution's reach extends across Togolese territory through its mobile money integration, allowing clients to access services 24/7 from any location within Togo where mobile network operators FLOOZ and T-MONEY are available.

Question 5

What services does Millénium Microfinance offer?

Accepted Answer

Millénium Microfinance provides comprehensive financial services designed for individuals, small and medium enterprises, and industries. Core offerings include:

Savings and Credit Services: Simple savings accounts, various credit products for business development, and real estate loans (introduced during the institution's 10th anniversary in 2019). Credit facilities are available to members with guarantors and viable income-generating projects.

Digital Financial Services: The institution offers the Hébron service, which enables wallet-to-bank (W2B) and bank-to-wallet (B2W) transactions between mobile money accounts (FLOOZ and T-MONEY) and Millénium Microfinance savings accounts, operating 24/7 across Togo.

Additional Services: Salary domiciliation, money transfers, wire transfers, business advisory and training services, and social assistance programs. The institution requires no deposit or guarantee for basic membership, making it accessible to vulnerable populations.

Question 6

What makes Millénium Microfinance unique?

Accepted Answer

Millénium Microfinance distinguishes itself through its dedicated focus on women's entrepreneurship and poverty reduction. Since its founding, the institution has positioned itself as a reference tool for promoting female entrepreneurial action, recognizing that supporting women creates positive impacts for entire communities.

The institution has embraced digital innovation through its partnership with ADA (Appui au Développement Autonome) Luxembourg's Digital Finance Initiative. Launched in December 2020, the Hébron digital service allows 43,000 clients to seamlessly transfer funds between their mobile wallets and bank accounts, addressing the need for convenient, round-the-clock financial access.

Millénium Microfinance also demonstrates strong social and environmental commitment through community initiatives, including food kit distributions during Ramadan and support for educational programs like the "Sciences et lettres" competition organized by Teachers Engaged for Education and Environment.

Question 7

What type of financial institution is Millénium Microfinance?

Accepted Answer

Millénium Microfinance is classified as a Système Financier Décentralisé (Decentralized Financial System), specifically operating as a savings and credit cooperative under Togolese microfinance regulations.

In Togo, such institutions are part of the PARMEC framework (Institutions Mutualistes ou Coopératives d'Épargne et de Crédit), which governs mutual savings and credit cooperatives within the West African Monetary Union (UMOA). These decentralized financial systems complement the formal banking sector by serving populations traditionally excluded from conventional banking services.

As a cooperative structure, Millénium Microfinance operates on a membership basis where both individuals and legal entities (associations, groups, establishments, or companies) can join. The institution maintains partnerships with commercial banks including Ecobank, Banque Atlantique, BTCI, Orabank, BOA, and Poste Banque for financing its activities.

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About Millénium Microfinance in Togo

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