The growing interest and investment in Africa’s microfinance sector, Mr. Mwangi believes, are mainly the consequence of “dwindling investment possibilities somewhere else.” There’s also a “growing recognition that Africa has turned a corner. Folks are seeing the prospects in Africa, and strategically positioning on their own to use the continent’s development.”
By having a goal that is dual of earnings and assisting bad individuals get access to economic services, personal enterprises are increasingly partnering with donor agencies to jointly purchase microfinance. Such partnerships come in line because of the 2002 Monterrey Consensus, by which minds of state globally agreed upon priorities for funding development. [Read more...]