The Réseau des caisses populaires du Burkina Faso (RCPB) has taken another step towards complying with the new regulations governing microfinance institutions. On September 29, 2026, the organization held a constitutive general assembly in Ouagadougou to form a union of cooperative associations with a board of directors. This move is part of RCPB's efforts to adapt to the new regulatory framework.
The new regulations, which came into effect recently, provide for two legal forms for institutions seeking approval or regularization as microfinance institutions: the public limited company and the cooperative society with a board of directors. In response, the boards of directors of RCPB's affiliated credit unions have opted for the cooperative society with a board of directors. This change has also required the legal regularization of the credit unions.
According to Oumarou Yaro, secretary of RCPB's national committee for reviewing texts, the constitutive general assembly is a logical step in RCPB's compliance with the new regulations. The assembly aims to integrate the requirements of the new law into RCPB's statutes and internal regulations and confirm its management bodies. The law provides for some immediately applicable provisions and others that require instructions from the BCEAO.
The RCPB has applied the immediately applicable provisions and will incorporate the BCEAO's instructions once they are issued. The organization's president, Augustin Sawadogo, stated that 15 resolutions were adopted during the constitutive general assembly to ensure full compliance with the new regulations. A key resolution is the creation of the union of cooperative societies with a board of directors.
The new regulations have prompted RCPB to reorganize its structure to ensure compliance. The organization has been working to regularize the legal status of its affiliated credit unions, which are now recognized as cooperative societies under the law. This change has enabled RCPB to form a union of cooperative societies with a board of directors.
The microfinance sector in Burkina Faso is subject to new regulations aimed at strengthening the industry's regulatory framework. The regulations require microfinance institutions to adapt their structures and operations to ensure stability and soundness. RCPB's efforts to comply with the new regulations demonstrate its commitment to operating within the framework.
The constitutive general assembly marks a significant milestone in RCPB's compliance with the new regulations. The organization is now poised to operate as a union of cooperative societies with a board of directors, in line with the new regulatory requirements. This development is expected to enhance the stability and effectiveness of RCPB's operations in the microfinance sector.
Key points
- RCPB holds constitutive general assembly to comply with new microfinance regulations
- The organization opts for the cooperative society with a board of directors as its new legal form
- RCPB applies immediately applicable provisions of the new law and awaits BCEAO instructions
