“Our priority today is to restore the human connection”
As CEO of Sunu Bank Togo since January 2024, Bénito Fado shares, in this extensive interview with Financial Afrik, his analysis of the Togolese banking sector. The leader also addresses several other key points including the crisis the bank experienced earlier this year, the outlook and challenges of the former Banque Populaire de l’Epargne et du Crédit.
What is your analysis of the Togolese banking sector since joining SUNU Bank Togo?
The Togolese banking sector is one of the most dynamic in the sub-region. There is intense competition, particularly due to the rise of well-capitalized pan-African groups and the rapid expansion of digital services, including fintechs and mobile operators.
This dynamism is an opportunity as it requires each bank to have increased demands in terms of service quality, operational rigor, and innovation. The challenge remains in achieving a balance between profitability, financial inclusion, and capital consolidation in a context where customers are increasingly informed and demanding.
How is SUNU Bank Togo doing?
SUNU Bank Togo is an institution actively rebuilding after a difficult period with BPEC (Banque Populaire de l’Epargne et du Crédit, Editor’s note). Today, we have entered a stabilization phase. The fundamentals are gradually being strengthened: governance, risk management, strategic refocusing, human resources, IT/monetary, liquidity, and capital increase. We benefit from the strong support of the SUNU Group, the renewed commitment of our shareholders, and the mobilization of our teams in the field.
How do you equip yourself with the means to achieve your ambitions?
Our ambitions are based on three essential pillars: first, the strength of a pan-African Group, committed in the long term and capable of providing the necessary means for the bank’s development. Secondly, the trust of our shareholders, which allows us to move forward serenely in implementing our roadmap. And finally, our human resources: we are committed to valuing internal talents while instilling a new dynamic of excellence, responsibility, and innovation.
Digital and customer experience are also major levers. We invest in simple, useful, accessible solutions, especially for young people, independent workers, and SMEs.
SUNU Bank also faced a difficult period recently. Since then, calm seems to have returned. What are the actions you consider a priority?
Let’s be honest: the crisis we went through has left marks on the relationship between the management and certain parts of the staff, as well as the trust of part of the public. But this phase was necessary to rebuild new, stronger and more sustainable foundations.
Our priority today is to restore the human connection, internally and externally. This involves listening, sometimes difficult but necessary dialogue. It also means demonstrating, on a daily basis, our seriousness, stability, and commitment to our customers. We work on the clarity of our procedures, service quality, training of our employees, and a progressive modernization of our tools.
Speaking of banks means talking about capital, especially in the face of current challenges and changes. How have you ensured the financial strength of the entities taken over by SUNU so far?
The SUNU Group does not engage in opportunistic growth. Each acquisition is carefully considered and accompanied by a structured and realistic recovery plan. Financial strength is based first on the support of the Group itself, which injects the necessary resources, but also on rigorous and progressive management of each entity.
For SUNU Bank Togo, this involves strategic refocusing, cost control, rebuilding customer trust, and healthy portfolio growth. Nothing spectacular in the short term, but a real desire to build on sustainable foundations. That is our vision.
Today, the banking sector is evolving rapidly with the emergence of fintech, artificial intelligence, mobile services, and new technologies. What innovations does a group like SUNU bring to compete with existing players and improve access to banking for rural populations, as well as access to financing?
Innovation at SUNU is not a trend, it is an ongoing transformation, but thought out with coherence and anchored in the reality of our markets.
In terms of banking, we were among the pioneers of Whatsapp Banking and recently launched MySUNU Bank, a digital banking solution that allows our customers to manage their account from their phone, track their transactions, make transfers, and soon much more. This is a concrete response to the needs of accessibility, speed, and simplicity.
In terms of insurance, we have deployed the MySUNU platform, which allows policyholders to consult and track their contracts, make declarations, and make attachments online.
In addition, we have two 100% digital and highly innovative products: Clic@uto, which allows for car insurance subscription in a few clicks, without having to visit the bank; and Futuris, our fully online life insurance savings product.
For businesses, we have implemented our Internet Banking platform, which allows them not only to check their balance and statements but also to initiate operations from their office, without coming to the bank.
These are concrete advances that allow us to democratize access to financial services, reach young people, mobile workers, rural areas, and facilitate the lives of all our clients. Far from technical jargon, these are solutions designed to be practical, inclusive, and useful. And it is in this direction that we will continue to invest.
How is your bank adapting to meet local and international compliance requirements, particularly regarding international and local standards and regulations?
Compliance is not a luxury, it is a vital requirement for any bank that wants to exist sustainably.
At SUNU Bank Togo, we have strengthened our compliance framework at several levels: first through rigorous governance, in line with the expectations of the BCEAO and the Banking Commission. Then by upgrading our internal procedures: KYC, anti-money laundering, internal control, regulatory reporting. And above all, by continuously training our teams so that compliance is integrated into every daily action.
We know that our credibility depends on this, especially in a sub-regional context where regulations are becoming increasingly demanding. And we fully assume this responsibility.
SUNU is primarily in the insurance sector before talking about banking. What is the logic behind this strategic orientation?
The SUNU Group is historically a major player in the insurance sector in Francophone Africa. But in reality, this orientation towards banking is not a shift, it is a carefully considered strategic complement.
By integrating banking into our ecosystem, we wanted to offer a complete financial experience to our clients, both in terms of foresight (insurance), savings, credit, and everyday services.
The ambition is to become an integrated player, capable of accompanying families, professionals, SMEs, and large companies at every stage of their financial life. It is also a way to strengthen our resilience: diversify our activities, better respond to market changes, and capitalize on synergies between insurance and banking.
What mechanisms has SUNU Bank put in place for SME financing?
SMEs are at the heart of the Togolese economic fabric, but they often face difficulties in accessing traditional financing.
At SUNU Bank Togo, we have launched several initiatives to better meet their needs: setting up dedicated credit lines with relaxed conditions; support for financial project structuring to enhance bankability; tailored support with dedicated account managers and very soon, specific offers combining financing + insurance + support. This is a strategic segment for us, and we know that our role is also to dare where others hesitate. Financing SMEs is investing in the real engine of the local economy.
Do you have social commitments?
Yes, and not just in principle. At SUNU Bank Togo, social commitment is a concrete, continuous reality, and rooted in our values. We believe that our role goes beyond banking services: it is also about serving, supporting, and contributing to collective progress.
Our main actions revolve around the major axes of the SUNU Group:
Education, with the “Right to Education with SUNU” program, now in its 4th edition.
This flagship project allows us each year to provide school supplies to children from disadvantaged families through targeted partnerships with schools or associations.
Health, through:
• A donation to the sickle cell center at the CHU Campus in Lomé, to support children with this genetic disease
• Support for the maternity ward in Tokoin, to improve the reception conditions for mothers and newborns
• And active participation in screening or prevention campaigns in collaboration with other sector actors
Culture, through sponsoring cultural and social events, with a strong local presence and a desire to stay close to the realities of our communities.
Emphasis is placed on solidarity, especially during the month of Ramadan, with donations to support vulnerable families, and gender equality, with concrete actions on International Women’s Rights Day (March 8), celebrated internally and externally every year.
All these actions are designed to be useful, respectful, and consistent with our identity. They demonstrate SUNU Bank Togo’s commitment to being a socially responsible company that does not settle for a financial role but assumes its part in the country’s sustainable development.
Finally, what are the current challenges of SUNU Bank and its prospects in the short, medium, and long term?
Our immediate challenge is stabilization: improving trust, strengthening governance, cleaning up our internal practices, and securing our fundamentals. We are aware that trust is regained daily, on the ground, through concrete actions and responsible communication.
In the medium term, our priority is to reposition SUNU Bank as a local, efficient bank, and above all customer-oriented. In this sense, we have fully integrated the vision carried at the SUNU Group level around Customer Experience, which we call “The SUNU Experience”. This concept is based on a strong conviction: the customer is at the center of everything.
This translates into clear commitments in terms of reception, listening, quick processing of requests, product quality, and transparency.
In the long term, we want to make SUNU Bank Togo a modern bank, well anchored in the country’s economic ecosystem. A reference bank for every customer segment: individuals, entrepreneurs, young professionals, or SMEs with tailored, human, and reliable support. We are on the right path, the vision is set, the foundations are laid, and the mobilization is real.
