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The impact of microfinance institutions (MFIs) ..
Therefore, the number of NGOS involved in Microfinance activities has increased in recent times due to the in ability of the formal financial sector to provide services, needed by the low income groups and the poor (CBN: 2005:7)The non-regulation of the activities of some of these institutions has serious implications for the CBN ability to promote monetary stability and sound financial system.
It has been noticed that one of the problems that microfinance institutions have faced in was inclusion of social welfare projects which divert attention form financial sustainability to welfare issues.
We analyze microfinance institutions (MFIs) as businesses
The informal financial sector served 65% of the Nigerian population through NGO-Microfinance institutions, money lenders, friends, relatives, credit union and associations.
Others argue that microfinance institutions should reduce their dependency from donors and governments by becoming financially self-sufficient, commercial institutions that can borrow from the commercial capital markets and that way grow to serve large numbers of poor people.
Institutions providing microfinance
According to, traditional microfinance institutions have great relevancy and perhaps the strongest system in , among which the indigenous rotating and non-rotating savings, credit associations and self-help groups.
Example of these traditional savings and credit institutions are: Esusu and Ajo among Yoruba, Adashi among Hausa, Isusu among Igbo, Oja and Aterugba among Igala and Bam among TIV etc and a vast array of derivatives. asserts that, rotating drift and credit association is an association of equals who have decided to come together to pool resources for financial structure of formal financial institutions, the informal financial institutions is structured horizontally with powers of members diametrically neutral” More ever, microfinance is about providing financial services to poor who are traditionally not served by the conventional financial institutions.
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Others argue that microfinance institutions should reduce their ..
Microfinance institutions have rapidly evolved in the last decade and have been able to create significant income and employment opportunities for the poor in developing countries.
Impact of mobile banking on microfinance institutions …
Therefore, micro credit institutions fail to reach their target populations, “the poor”.In order to remain relevant, microfinance institutions must be able to provide development activities necessary to generate financial sustainability.
impact of Microfinance in Kenya - SlideShare
According to Osaze (1999) The advantage of traditional microfinance over formal financial institutions particularly in the rural areas, lies in their ability to give quick credit and to mobilize savings, their proximity and easy access to those in the rural communities who require their services, the freedom they give their debtors to deploy extended credit to whatever use they desire, the repayment flexibility and adaptability to the peculiar needs of borrowers and their low overhead and transaction costs.
impact of Microfinance in Kenya ..
The empirical analysis employs the 2006 Census of Tier 4 Microfinance Institutions in Uganda, which offers a representative picture of the microfinance industry in the country.
The impact of microfinance institutions ..
The study findings indicate that generally, Pride microfinance is mindful of its social commitment in the mission but the institution has not mainstreamed social performance to give it comparable importance to that of sustainability and financial performance.
European Microfinance Programme - EMP
Near-ready institutions such as banks, microfinance, lending companies, cooperatives, insurance and even utility companies recognized the value of an individual credit score and...
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