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Regulation, Outreach, and Sustainability of Microfinance Institutions in Sub‐Saharan Africa: A Multilevel Analysis

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  • Frederick Nyanzu
  • James Atta Peprah
  • Ayi Gavriel Ayayi

Abstract

The paper examines the effect of regulation on microfinance institutions’ (MFIs) sustainability and outreach in Sub‐Saharan Africa (SSA). Using unbalanced panel data from 2002 to 2012 for 30 countries and a multilevel estimation technique, we find that regulation helps improves the sustainability and breadth of outreach but not the depth. We also find that MFIs that accept deposits have better sustainability but tend to serve the marginal poor. Finally, regulatory quality has a positive impact on outreach and sustainability. Overall, the paper casts new light on the contribution of regulation to the dual objectives of microfinance.

Suggested Citation

  • Frederick Nyanzu & James Atta Peprah & Ayi Gavriel Ayayi, 2019. "Regulation, Outreach, and Sustainability of Microfinance Institutions in Sub‐Saharan Africa: A Multilevel Analysis," Journal of Small Business Management, Taylor & Francis Journals, vol. 57(S2), pages 200-217, November.
    • Handle: RePEc:taf:ujbmxx:v:57:y:2019:i:s2:p:200-217
    DOI: 10.1111/jsbm.12467
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    Cited by:

    1. Djibril Faye & Zaka Ratsimalahelo, 2022. "Dynamic analysis of the interest rate determinant in microfinance institutions," Working Papers 2022-09, CRESE.

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