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RESEARCH PRODUCT

Les choix des parties prenantes dans les organisations de microfinance au Sénégal

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As African organizations operate according to universal principles (Western) while such principles often ignore African specificities, this study proposes to relate Western theory to African specificities. This doctoral study examines a Western model, the Mitchell and al. (1997)’s model, applied to the governance of microfinance organizations in Senegal. Many researches explain that microfinance organizations’ problems are related to corporate governance difficulties. Moreover, most studies consider that the concept of stakeholder is the foundation of the governance of microfinance organizations. Finally, the model of Mitchelland al. (1997) is cited as one of the most relevant typologies in the stakeholder theory literature. The objective of this thesis is to integrate Senegalese traditional and cultural specificities in the model of Mitchell et al. (1997) applied to the governance of microfinance organizations in Senegal. From a qualitative study based on 24 interviews conducted with the leaders of microfinance organizations in Senegal in the Dakar region, we highlight that Western theories, in particular the model of Mitchell et al. (1997) can only be understood inside an institutional context linked to a territory, the tradition that is exercised there and the specificactors that make it live. In addition, taking into account the traditional and local aspects leads to a new thinking of both the role of microfinance organizations (value creation and distribution of the surplus) and the control mechanisms that are to be implemented to limit patronage drift or misappropriation of funds.