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UM-PAMECAS is a key player in Senegalese microfinance, ranking among the top five institutions in the country in terms of outstanding loans and deposits. PAMECAS began operations in the 1990s, initially in urban areas lacking formal financial institutions. The institution gradually expanded its activity toward rural areas where financial inclusion remains low. Today, the microfinance institution is composed of around thirty Savings and Credit Cooperatives operating throughout Senegal, which are brought together under an umbrella organization—UM-PAMECAS.
Senegal is a low-income country facing numerous development challenges. It is ranked 169th out of 193 countries according to the Human Development Index (HDI), with an HDI of 0.517. Microfinance institutions play an essential role there by financing the informal economy, strengthening financial inclusion, and increasing the penetration of the microfinance sector, which stood at only 21.2% at the end of 2021.
UM-PAMECAS, due to its cooperative structure, is a model deeply rooted in the community, partly funded by it and, above all, serving it. The institution targets various segments of the population, particularly women and disadvantaged populations in peri-urban and rural areas.
