Microfinance in Africa: Experience and Lessons from Selected African Countries

24 Pages Posted: 15 Feb 2006

See all articles by Anupam Basu

Anupam Basu

International Monetary Fund (IMF) - African Department

Murat Yulek

International Monetary Fund (IMF)

Date Written: September 2004

Abstract

Based 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.

Keywords: Microfinance, microcredit, bank regulation, Africa, savings

JEL Classification: E26, G21, G28, L31, O16

Suggested Citation

Basu, Anupam and Yulek, Murat, Microfinance in Africa: Experience and Lessons from Selected African Countries (September 2004). IMF Working Paper, Vol. , pp. 1-24, 2004. Available at SSRN: https://ssrn.com/abstract=878999

Anupam Basu (Contact Author)

International Monetary Fund (IMF) - African Department ( email )

1700 19th Street, NW
Washington, DC 20431
United States

Murat Yulek

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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