The performance of microfinance

The real challenge for decentralized financial systems (DFS) remains the simultaneous achievement of social and financial objectives. The study of the financial structure of these structures makes it possible to identify the best sources of financing for an efficient financial system to achieve these objectives. Thus the objective of this study is to evaluate the influence of financing sources on the financial and social performance of DFS in Benin. The study focused on a sample of 33 SFDs over a five-year period (2012 to 2016). The dynamic panel model used leads to the following results. Equity and total debt all related to total assets have a positive and significant influence on financial performance. The number of employees and the number of service points positively and significantly influence the social outreach.Keywords: Sources of funding financial performance social outreach SFD.J.E.L. Classification: G23 - G32 - O16.