Ouagadougou: The Deputy Director General of the Treasury and Public Accounting, Kadiatou Oulla/Paré, urged microfinance stakeholders on Monday in Ouagadougou to strengthen the governance of the sector, which now has 120 approved institutions, more than 2.15 million members, and more than 606 billion FCFA in mobilized savings. The call was made during the second edition of the National Consultation Framework for Microfinance Actors (CNCAM), which aims to identify the sector's challenges and develop concerted solutions.According to Burkina Information Agency, the microfinance sector in Burkina Faso is significant, boasting 120 licensed institutions and 2,156,354 members as of March 31, 2026. The sector has mobilized savings of 606.447 billion FCFA, with outstanding loans amounting to 450.224 billion FCFA. These statistics highlight the sector's growing role in financial inclusion, particularly for disadvantaged and vulnerable groups, and its contribution to the national economy.Despite these achievements, O ulla/Paré highlighted ongoing challenges such as governance shortcomings, a lack of qualified human resources, a decline in loan portfolio quality, and weaknesses in internal control mechanisms and information systems. These issues have led to recurring difficulties for some microfinance institutions.The CNCAM meeting comes at a critical time, following the implementation of Law No. 001-2025/ALT of February 13, 2025, which regulates microfinance in Burkina Faso. The consultation framework is seen as essential for addressing these challenges. Participants are set to review the implementation of recommendations from the first edition, evaluate the current state of the sector, and explore new reporting frameworks.Oulla/Paré encouraged participants to pinpoint constraints hindering sector development and to propose concrete recommendations for enhancing the sector's influence and sustainability. She emphasized the government's commitment to leveraging microfinance as a tool for economic and social development , particularly for populations lacking access to traditional banking services.