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WAGES
CARE provided the start up funding for the Women and Associations for Gain both Economic and Social (WAGES) in Togo in 1994. It began as a solidarity group lending programme and a group of 20 women in the capital Lome began a savings scheme and eventually made loans to each other out of their savings. It has steadily grown and has now become the second largest microfinance institution (MFI) in Togo and reaches more rural clients than any other microfinance provider. With 10 branches throughout the country it provides loans to more than 14,000 borrowers each year, most of them women. Typically, the loans WAGES provides are for small-scale commerce and agriculture, and livestock production. As well as offering different types of individual and group loans, WAGES also offers savings and money transfer facilities. Furthermore, it provides training to clients in areas such as business administration, credit management, marketing, accounting and even HIV/AIDS and malaria awareness. You can find out more about WAGES at https://wagestogo.org/
WAGES: Basic facts and figures
| Full name: | Women and Associations for Gain both Economic and Social (WAGES) | |
| Established: | 1994 | |
| Proportion of loans given to female borrowers: | 70.47% | |
| Average loan size: | US$1,013 | |
| Number of active borrowers: | 14,431 | |
| Number of depositors: | 64, 710 | |
| Gross loan portfolio: | US$14.6 million | |
| Deposits: | US$9.4 million | |
| Total assets: | US$18.2 million |
Togo: Basic facts and figures
| Country: | Togo | |
| Capital: | Lome | |
| Official language: | French | |
| Population: | 6.6 million (2009 estimate) | |
| GDP per capita: | $446 | |
| Inflation: | 4.5% | |
| Human Development Index ranking: | 159 (of 182 countries) | |
| Proportion of population living on less than $2 per day: | 69.3% | |
| Adult literacy rate: | 53% | |
| Under 5 Infant mortality rate (per 1000): | 98 | |
| Life expectancy: | 61 (Men) 64 (Women) | |
| Currency: | Communaute Financiere Africaine franc (XOF) |
