Question 1

What is Financia SA?

Accepted Answer

Financia SA is a microfinance institution operating in Benin, providing financial services to individuals and micro-enterprises. As a registered institution supervised by the Commission Bancaire de l'UMOA (West African Economic and Monetary Union Banking Commission), it contributes to financial inclusion in Benin's economy.

The institution is part of Benin's extensive microfinance sector, which comprises over 600 institutions serving approximately 2.2 million clients nationwide.

Question 2

When was Financia SA founded?

Accepted Answer

[Information not publicly available]

Question 3

Where is Financia SA headquartered?

Accepted Answer

Financia SA is headquartered in Benin. The institution maintains a web presence at financia-benin.com and operates under the regulatory framework of the UMOA zone.

Question 4

Where does Financia SA operate?

Accepted Answer

Financia SA operates within Benin, serving communities across the country. As part of the UMOA microfinance network, the institution focuses on reaching populations and economic actors not adequately served by conventional banking institutions.

Benin's microfinance sector has a broader reach than the traditional banking sector, extending financial services to both urban and rural areas, though urban centers tend to have greater concentration of microfinance services.

Question 5

What services does Financia SA offer?

Accepted Answer

Financia SA provides microfinance services including savings products, microcredit, and other financial services tailored to the needs of micro-entrepreneurs, small businesses, and low-income households. These services are designed to support income-generating activities, business development, and household financial management.

The institution serves populations excluded from traditional banking, including informal sector workers, small traders, artisans, farmers, and micro-enterprises operating in both urban and rural environments.

Question 6

What makes Financia SA unique?

Accepted Answer

Financia SA operates as a registered and supervised microfinance institution within the UMOA regulatory framework, ensuring compliance with regional standards for financial soundness and client protection. This supervision by the Commission Bancaire de l'UMOA provides additional credibility and security for clients.

The institution is part of Benin's evolving microfinance landscape, which emerged in the 1990s to address the significant gap in financial services for micro-enterprises and low-income populations following the economic reforms and banking sector restructuring of that period.

Question 7

What type of financial institution is Financia SA?

Accepted Answer

Financia SA is classified as a Système Financier Décentralisé (SFD), or Decentralized Financial System, which is the regulatory designation in the UMOA zone for microfinance institutions. It operates as a société anonyme (SA), or public limited company, under Beninese company law.

SFDs in Benin are supervised by the Ministry of Finance and, for larger institutions, by the BCEAO (Central Bank of West African States). These institutions are governed by the PARMEC Law (Projet d'Appui à la Réglementation sur les Mutuelles d'Epargne et de Crédit), which provides the legal and regulatory framework for microfinance in the UMOA zone.

Financia SA

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About Financia SA in Benin