Regulatory Alerts2025-12-31
UMOA Governor Notice 007-12-2025 on Fixing the Usury Rate for Credit and Microfinance Institutions in Member States
The West African Monetary Union (UMOA) Council of Ministers, through Governor Jean-Claude Kassi Brou’s Notice 007-12-2025, establishes fixed usury rates of 14.0% per annum for banks and 24.0% per annum for credit establishments, microfinance institutions, and other economic agents across all member states. This binding regulatory decision takes effect on June 1, 2026, mandating immediate compliance by all notified financial entities. The notice is formally published and distributed to ensure uniform application of the capped lending rates throughout the UMOA region.
The Governor NOTICE No. 007-12-2025 TO CREDIT ESTABLISHMENTS AND MICROFINANCE INSTITUTIONS ON FIXING THE USURY RATE IN THE MEMBER STATES OF THE WEST AFRICAN MONETARY UNION (UMOA) During its session held on December 29, 2025, in Cotonou, the Council of Ministers of the West African Monetary Union (UMOA) decided to set the usury rate in the Member States of the Union at:
- 14.0% per annum, for banks;
- 24.0% per annum, for credit financial establishments, microfinance institutions as well as other economic agents. This decision takes effect from June 1, 2026. This Notice is notified to credit establishments as well as microfinance institutions and published wherever necessary. Done in Dakar, on December 31, 2025 The Governor Jean-Claude Kassi BROU