An article written by Mariama Ashcroft, WWB’s Africa Relationship Manager, was featured in the MicroBanking Bulletin’s December 2008, Issue 17. The article titled Microfinance in Africa – the Challenges, Realities and Success Stories is based on a study by WWB and AMAF- the Africa Microfinance Action Forum, a voluntary advocacy group of African leaders committed to the advancement of microfinance. The article uses results from the study to show the upturn toward faster and steadier growth of African microfinance markets. The report includes benchmarks of 2007 from almost 900 MFIs throughout the developing world, covering 64 million borrowers and USD 36 billion in loans, 34 million savers and USD 15 billion in deposits. The upturn is attributed to economic reform and improved fundamentals. Obstacles are also explored, such as high operating costs. However, the increased access to financial services may contribute to reaching the first Millennium Development Goal of eradicating extreme poverty and hunger. A focus on regional management is pinpointed as a means to financial access for all.

Download PDF versions of Microfinance in Africa – the Challenges, Realities and Success Stories and the Full Issue 17 of the MicroBanking Bulletin.