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This paper examine the efficiency of microfinance institutions (MFIs) in WAEMU (West African Economic and Monetary Union). Using DEA (Data Envelopment Analysis), we calculate the technical efficiency scores in a sample of 80 savings and credit cooperatives in 2014. We find higher levels for social efficacy than for financial efficiency. The comparative analysis of effectiveness according to the country of origin of the microfinance institution shows that no country has a monopoly on good performance. One of the important conclusions is that inefficiency is better explained by pure technical ineffectiveness rather than by scale. Therefore, improving the efficiency of MFIs involves improving technical capability by promoting training, better equipment and quality of management. [ABSTRACT FROM AUTHOR]