Borrowing in Niger: a guide to financing in CFA francs
In Niger, credit is provided by around fifteen licensed banks such as Sonibank, BIA-Niger and BAGRI, and by decentralised financial systems (SFDs), in CFA francs, under BCEAO supervision, with a usury cap of 14% for banks since June 2026.
Niger's banking landscape in 2025
The list issued by the UMOA Banking Commission in May 2025 counts fourteen banks in Niger, including Sonibank, BOA-Niger, Ecobank, BIA-Niger, BSIC and branches such as Coris Bank or CBAO, plus six licensed financial institutions.
BCEAO, the Banking Commission and the CFA franc in Niger
Niger uses the WAEMU CFA franc issued by the BCEAO, whose main agency is in Niamey. The UMOA Banking Commission licenses and supervises banks, while SFDs also answer to the national authorities in charge of microfinance.
Usury ceilings in Niamey and across the country
Since 1 June 2026, the annual percentage rate of a bank loan in Niger cannot exceed 14% per year. SFDs and non-bank financial institutions are capped at 24%, including arrangement fees, commissions and insurance premiums.
Specialised state banks: BAGRI and BHN
The state set up two sector banks: the Banque Agricole du Niger, focused on rural value chains, and the Banque de l'Habitat du Niger, opened in December 2018 with capital of 10 billion CFA francs to finance housing.
Housing, the top need of urban households
The housing shortage in Niamey pushes many employees to build in stages. Land title rules, down payment and loan term are covered on our page about the mortgage loan in Niger, along with the role played by the BHN.
Asusu and the microfinance institutions
Asusu SA, active in towns as well as rural areas, is one of the country's leading microfinance institutions, alongside mutual savings and credit cooperatives. Amounts, solidarity groups and guarantees are explained in our feature on microcredit in Niger.
Farming, livestock and the 3N Initiative
Millet, sorghum, cowpeas, Galmi onions and livestock employ most of the workforce. FISAN, linked to the 3N Initiative, supports agricultural credit together with BAGRI, as shown in our guide to the farmer loan in Niger.
Trade, SMEs and access to finance
Traders in Maradi, Zinder or Niamey, often trading with neighbouring Nigeria, fund their stock through bank overdrafts or microloans. Requirements for the RCCM trade register, the NIF tax number and collateral are set out in our business loan guide for Niger.
Credit history and Creditinfo VoLo
As everywhere in the WAEMU, banks and large SFDs in Niger report to the credit information bureau Creditinfo VoLo. With your consent, a lender checks your outstanding loans and payment incidents, which can speed up an application or justify a refusal.
Mobile money and money transfers in Niger
Airtel Money and the Moov Africa wallet are used for payments and transfers, including from the diaspora. These flows, like those of licensed transfer companies Al-Izza, Amana or Nita, can help document an irregular income for a lender.
Islamic finance and Banque Islamique du Niger
In a largely Muslim country, Banque Islamique du Niger offers sharia-compliant financing such as murabaha for buying goods or a vehicle. A profit margin replaces interest, but the contract remains governed by UMOA banking regulations.
Economic context and liquidity since 2023
Regional sanctions in 2023 and 2024 weighed on the liquidity of Niger's banks. Oil production at Agadem and uranium from Arlit support public revenue, but lenders remain cautious when selecting borrowers, especially outside the main cities.
Typical loan application path in Niger
- Define your need and the amount in CFA francs, then decide whether a bank, an SFD or Islamic financing suits you best.
- Open or update an account and have your salary or business income paid into the chosen institution in Niamey or the regions.
- Ask for a written simulation showing the annual percentage rate, the arrangement fee and the death and disability insurance.
- Gather the identity documents, proof of income and collateral papers required by the branch.
- Sign the Creditinfo VoLo consent form and follow the review of your file by the credit committee.
- Reread the contract, repayment schedule and penalties before signing, then keep a copy of every document.
Benchmark credit costs in CFA francs in Niger
| Item | Indicative benchmark | What makes it vary |
|---|---|---|
| Bank APR ceiling | 14% per year (since 1 June 2026) | Set at UMOA level |
| SFD and financial institution ceiling | 24% per year | Includes fees and commissions |
| Arrangement fee | Varies by institution | Loan amount and type |
| Death and disability insurance | Depends on age and term | Required for most bank loans |
| Collateral | Salary assignment, guarantor, mortgage | Type and term of financing |
Basic paperwork for borrowing in Niger
- Valid Nigerien national identity card or passport
- Last three payslips or a statement of business income
- Salary domiciliation certificate signed by the employer
- Bank statements for recent months or Airtel Money history
- Certificate of residence from the town hall or neighbourhood chief
- RCCM and NIF for traders and self-employed borrowers
Common traps and refusals with Nigerien lenders
- Paying upfront fees to a so-called lender met on Facebook or WhatsApp who promises a CFA franc loan without paperwork and then vanishes.
- Taking loans from several SFDs in Niamey without realising that Creditinfo VoLo makes those balances visible to other lenders.
- Comparing only the nominal rate without asking for the annual percentage rate, even though the ceiling differs between banks and SFDs.
- Declaring undocumented trading income, for instance a stall at the Grand Marché with no cash book or account statements.
- Handing your identity card and mobile money PIN to a middleman who claims to be an agent for a Nigerien bank.
Answers about credit and the CFA franc in Niger
What is the maximum rate on a bank loan in Niger in 2026?
Since 1 June 2026, the annual percentage rate of a loan granted by a bank in Niger cannot exceed 14% a year. For SFDs and financial institutions the limit is 24%, all fees included, in line with UMOA rules.
How many banks are licensed in Niger?
The list published by the UMOA Banking Commission and updated in May 2025 records fourteen banks in Niger, ten incorporated locally and four branches of regional groups, as well as six licensed financial institutions.
Does Niger still use the CFA franc?
Yes. Despite leaving ECOWAS as part of the Alliance of Sahel States, Niger remains a WAEMU member and uses the CFA franc issued by the BCEAO. The common banking rules, including the usury rate, continue to apply.
Can you borrow in Niger without a bank account?
Yes, many SFDs open a savings account when you apply and lend small amounts. Banks almost always require an account and, for employees, have your salary paid into it before they will review the application.
Is a missed repayment in Niger reported to other lenders?
Yes. Repayment incidents reported to Creditinfo VoLo are visible to participating institutions, in Niger and across the WAEMU, when they consult your report with your consent. This can lead to a refusal or a demand for extra collateral.