Microfinance in Africa
AbstractBased on the experience of selected countries, this paper offers a critical presentation of the development of the microfinance sector in Africa. The paper supports the view that microfinance institutions, especially those engaged in full financial intermediation, complement effectively the banking sector in extending financial services and successfully draw on the rich experience of community-based development and preexisting informal methods of financial intermediation in Africa. Growing linkages between microfinance institutions and the banking system and the dissemination of good practices by nongovernment organizations contribute to the sound development of the sector, supported by regulation and supervision by local authorities.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 04/174.
Date of creation: 01 Sep 2004
Date of revision:
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Postal: International Monetary Fund, Washington, DC USA
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This paper has been announced in the following NEP Reports:
- NEP-AFR-2005-10-22 (Africa)
- NEP-ALL-2005-10-22 (All new papers)
- NEP-DEV-2005-10-22 (Development)
- NEP-FMK-2005-10-22 (Financial Markets)
- NEP-MFD-2005-10-22 (Microfinance)
- NEP-SOC-2005-10-22 (Social Norms & Social Capital)
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