A few years (03 years) following his university studies in 1993, the problem of modernizing the activity of itinerant bankers commonly known as tontiniers in Benin led the promoter to embark on collecting savings in the international market. Dantokpa (Cotonou). Initially, no financial support was granted to customers since he had started this activity with 15,000 (fifteen thousand) CFA francs. However, the rebates due to him at each withdrawal from clients' deposits enabled him to set up a fund in 1997 which enabled the opening of the first office and the computerization of operations thanks to a software package adapted to the tontine business. Was the first Agency, called "Akpakpa Agency".
The aim is to give more visibility and thus reassure customers that they have sometimes been victimized by itinerant bankers who disappear in the wild with their money. The granting of small credits to a certain category of women in the Dantokpa market then began. The lesson learned from this field experience for the past four (4) years is that the need for working capital funding really exists at these women's markets who are more laborious, more attached to their activities. They are more credible and solvent, since they are aware that the sustainability of their activity depends on their credibility with respect to their tontrol. On the other hand, direct contact with and at their place of business, which they rarely leave except in the evenings and in cases of force majeure, have made these mobile bankers very important and adapted sources of financing.
Having understood all this, the proponent realized that there was material and that the experiment should be continued. Thus, in 2000, the institution was formalized in the form of a limited liability company with a notary of the place under the name of Benin Micro Finance with a share capital of 10,000,000 CFA francs (ten million). The rest is summarized as follows:
2005 : Opening of the second agency at the Dantokpa market to get closer to its privileged target;
2006 : Opening of an agency at Ouando in Porto Novo ;
2007 : Opening of an agency in Abomey Calavi a dormitory town located a few kilometers from Cotonou ;
2008 : Opening of an agency at the large market of Arzèkè in Parakou, the biggest city in the North of Benin ;
2009 : Opening of the second agency at Marché Dépôt in the city of Parakou ;
2013 : Opening of two agencies: Cocotomey (Cotonou) and Kétou at the Mansafè market ;
2015 : Opening of an agency in Banikanni ;
2016 : Opening of an agency in Etoile rouge ;
2017 : Opening of the Catchi and Bohicon branch office;