DJOMEC | MFIs in Senegal

Gross Loan Portfolio USD, 2010: 1.4 million

Number of active borrowers 2010: 7,440

Average loan balance per borrower USD, 2010: 182.3

Deposits USD, 2010: 1.2 million

Assets USD, 2010: 2.0 million

Number of depositors 2010: 12,361

Mission:

-Lutter contre la pauvreté -Fight against poverty

Background and Main Challenges:

- L'IMF est née lors d'un forum Ensemble "Développons le Djolof" et pour but de lutter contre la pauvreté dans le djolof -Djomec was born during a forum called "Développons le Djolof" to fight against poverty in Djolof region.

Address:

Marché central Escale Linguère

Linguère

BP 92

Senegal

Phone:

(221) 33 968 10 01

Email:

medjolof1 [at] sento [dot] sn

Main Funding Sources:

Grants

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Looking for (Investment Types):

Donations

Capacity Building Grants

Equity investments

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1999

FYE:

31-Dec

Current Legal Status:

Credit Union / Cooperative

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
Women	2
Adolescents and youth (below 18)	3
Clients living in urban areas	4
+ Development goals (ranked by importance)
Poverty reduction	1
Employment generation	2
Growth of existing businesses	3
Increased access to financial services	4
Gender equality and women's empowerment	5
Youth opportunities	6
Health improvement	7
Housing	8
+ Poverty targets
Poor clients
Low income clients
+ Governance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Microcredit for household needs/consumption
Loans for agriculture
Loans for education
Housing loans
Transport
+ Savings products offered
Checking accounts
Voluntary savings accounts
Compulsory savings accounts (cash collateral)
Fixed term deposits
Special purpose savings accounts
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
Remittances services
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to women
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
DRS-SFD	Regulation
Oikocredit	Funding
Terrafina Microfinance	Funding

MFI Report

Select i

Social Performance Profile

Partnerships

At a glance

Contacts

MIX Market Data Updates

Share this Profile

Global Partners