The verdict in three sentences
Custom microfinance core banking costs between 8,000,000 and 30,000,000 FCFA (12,200 to 45,730 EUR) in 2026, or 100,000 to 400,000 FCFA/month as SaaS. It handles loans, savings, branches and scoring, automates mobile repayment (Wave/Orange Money) and produces BCEAO regulatory reporting. The concrete payoff: portfolio-at-risk (PAR) cut by 2 to 5 points and branches connected in real time.
What a microfinance core banking must cover
A microfinance institution (MFI) in Dakar or Abidjan manages thousands of accounts on thin margins. The tool must cover:
- Credit: origination, schedules, collateral, restructuring, provisioning.
- Savings: accounts, deposits, withdrawals, interest.
- Credit scoring: risk assessment, client history, ceilings.
- PAR tracking: portfolio at risk by bucket, arrears alerts.
- Mobile money: Wave/Orange Money collection and repayment, automatic reconciliation.
- BCEAO reporting: regulatory statements, prudential ratios.
| Module | Custom (FCFA) | EUR equivalent |
|---|---|---|
| Credit/savings accounts core | 3,000,000 - 6,500,000 | 4,570 - 9,910 |
| Scoring + PAR tracking | 2,000,000 - 5,000,000 | 3,050 - 7,620 |
| Wave/Orange Money integration | 1,500,000 - 4,000,000 | 2,290 - 6,100 |
| Multi-branch + sync | 2,500,000 - 6,000,000 | 3,810 - 9,150 |
| BCEAO reporting | 1,500,000 - 4,500,000 | 2,290 - 6,860 |
| Field agent app | 2,000,000 - 5,000,000 | 3,050 - 7,620 |
A single-branch MFI starts around 8,000,000 FCFA; a network of dozens of branches targets 30,000,000 FCFA.
Custom or packaged core banking?
Packaged solutions exist (often licensed annually in hard currency), but local mobile-money integration and BCEAO reporting are rarely native.
| Option | Year 1 cost (FCFA) | Recurring | Local mobile money |
|---|---|---|---|
| Foreign packaged core banking | 6,000,000 - 20,000,000 | 3,000,000 - 8,000,000/yr | Often to integrate |
| Microfinance SaaS | 2,000,000 - 6,000,000 | 100,000 - 400,000/mo | Variable |
| Custom by Kolonell | 8,000,000 - 30,000,000 | 12 - 18% maintenance/yr | Native Wave/OM |
Custom integrates Wave and Orange Money natively, removing manual reconciliation and making repayment reliable.
Mini case study
Mr. Ndiaye runs a 6-branch MFI in Thies, 14,000 active clients, a credit portfolio of 1.8 billion FCFA. His 30-day PAR was 9%, about 162,000,000 FCFA at risk. Automated tracking, early alerts and mobile repayment bring PAR down to 5.5%, freeing about 63,000,000 FCFA of risk and reducing provisions. The custom software at 19,000,000 FCFA pays for itself in the first year through loan-loss reduction alone, not counting agent hours saved.
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FAQ
Is mobile-money repayment reliable?
Yes: Wave and Orange Money integration collects and automatically reconciles each installment. Automatic reconciliation exceeds 98%, versus error-prone manual matching.
Is BCEAO reporting supported?
Yes, regulatory statements and prudential ratios are generated automatically, cutting report production from several days to a few hours.
How long to deploy?
Expect 4 to 8 months. A single-branch credit/savings pilot is operational in 3 months, then rolled out to other branches.
Does scoring really reduce PAR?
On average, scoring coupled with early alerts lowers PAR by 2 to 5 points depending on the starting portfolio quality, often tens of millions of FCFA.
What annual maintenance budget?
2026 order of magnitude: 12 to 18% of the initial cost, i.e. 1,000,000 to 5,400,000 FCFA/year, BCEAO updates included.
Let's scope your project. Specify your number of branches, clients and BCEAO reporting needs for a tailored quote. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
