Anupam Basu Rodolphe Blavy

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6.0 References: Microfinance in Africa - Experience and Lessons from Selected African Countries
References

5.0 Conclusions: Microfinance in Africa - Experience and Lessons from Selected African Countries
In sub-Saharan Africa, there is ample evidence that the poor, particularly those in the rural sector, value both deposit and credit facilities. The existence and growth of cooperative banking and combined savings and credit institutions in the microfinance sector in sub- Saharan Africa reflects the growing demand for both savings and credit facilities.

4.3 Accompanying Measures: Microfinance in Africa - Experience and Lessons from Selected African Countries
The capacity of MFIs has an important bearing on the compliance with regulatory requirements. It is therefore important to put in place appropriate measures in the following areas:

4.2 Minimum Regulatory Requirements and Supervision Practices: Microfinance in Africa - Experience and Lessons from Selected African Countries

The principal regulatory requirements are licensing, information transmission requirements, and prudential norms. These should be used in line with the objectives of the regulatory design discussed above. Reviewing the experience of four countries shows a similar gradual approach to licensing requirements: newer and smaller institutions are encouraged to apply for licensing without much regulatory requirement while larger institutions are regulated and supervised more closely and strictly.

4.1 Objectives and Coverage of the Regulatory Framework: Microfinance in Africa - Experience and Lessons from Selected African Countries
Overall, the rationale for microfinance regulation is to create a healthy environment for microfinance activities while not stifling the growth of the sector by imposing undue requirements.

4.0 The Role of Governments: Microfinance in Africa - Experience and Lessons from Selected African Countries
In several African countries—for example, Ghana, Guinea, Tanzania and Uganda— governments have in the past relied on state-owned banks to extend rural credit and microfinance services.

3.2 The Roles of Donors and NGOs: Microfinance in Africa Experience and Lessons from Selected African Countries
Donors and NGOs have generally provided support through two main channels: domestic NGOs or donor-managed microfinance projects, and microfinance institutions that function more or less like leasing companies (receiving wholesale external resources and lending to clients).

3.1 Links Between the Operations of MFIs and Banks, Donors and NGOs: Microfinance in Africa - Experience and Lessons from Selected African Countries
A. Developing Complementarities between MFIs and Banks

2.2 Formalizing Informal Methods of Financial Intermediation: Microfinance in Africa - Experience and Lessons from Selected African Countries
Traditional informal systems for the collection of savings and for lending have provided substantial insight for the operations of licensed MFIs in African countries.

2.1 The CommunityBased Approach in MFI Development: Microfinance in Africa - Experience and Lessons from Selected African Countries
An approach commonly followed in African countries has been to rely on local communities to support the development of MFIs, outside the formal banking sector.

2.0 Deposit Collection and Credit Extension: Microfinance in Africa - Experience and Lessons from Selected African Countries
The importance of deposit collection in the development of microfinance services has arisen from the fact that the poor value both deposit and lending services

1.0 Introduction: Microfinance in Africa - Experience and Lessons from Selected African Countries

Small enterprises and most of the poor population in sub-Saharan Africa have very limited access to deposit and credit facilities and other financial services provided by formal financial institutions. For example, in Ghana and Tanzania, only about 5–6 percent of the population has access to the banking sector. This lack of access to financial services from the formal financial system is quite striking, when one considers that in many African countries the poor represent the largest share of the population and that the informal sector is an important part of the economy.


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