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Some Aspects of the New Microfinance Law in Zimbabwe

Author

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  • Makuyana Tsanangurai

    (National University of Science & Technology Department of Insurance and Actuarial Science, Bulawayo, Zimbabwe)

Abstract

This paper analyses the new Microfinance Act [Chapter 24: 29] in order to reveal the shortcomings in the law and to suggest areas of possible improvement. The study was carried out using a purely desktop legal research method wherein a critical review of the piece of legislation was done against the theory surrounding microfinance business principles. The study concluded that the new Microfinance Act in Zimbabwe has a considerable number of shortcomings born out of both drafting loopholes and outright lack of thrust of principles promotive of the growth of the microfinance sector in the country.

Suggested Citation

  • Makuyana Tsanangurai, 2017. "Some Aspects of the New Microfinance Law in Zimbabwe," Mediterranean Journal of Social Sciences, Sciendo, vol. 8(3), pages 209-217, May.
    • Handle: RePEc:vrs:mjsosc:v:8:y:2017:i:3:p:209-217:n:15
    DOI: 10.5901/mjss.2017.v8n3p209
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