Thème : Les déterminants de l’efficience financière des institutions de microfinance (IMF) au Congo Brazzaville.
- Country : Republic of the Congo
- Subject : Economics
Keywords : Microfinance, determinants, performance, efficiency.
Abstract
The objective of this article is to identify the determinants of the financial efficiency of microfinance institutions (MFIs) in Congo, over the period 2015-2020. To achieve this objective, we used the DEA (Data Envelopment Analysis) method in the first stage to determine the efficiency scores, and then regressed these scores on 11 explanatory variables (financial products, financial expenses, staff, portfolio at risk, return on assets, size of the MFI, age, area of establishment, type of loan, gross domestic product and consumer price index) in the second stage using the censored Tobit model, in order to identify the determinants. The DEA analysis highlighted that the Congolese microfinance sector is inefficient. For its part, the Tobit regression made it possible to identify the operational determinants of this inefficiency .These determinants are : financial products, portfolio at risk, return on assets, MFI size, and the consumer price index (CPI). Based on the results obtained, the most important recommendation made to MFI management is to leverage non-operational determinants (e.g., age and staff) to strengthen their financial efficiency.
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