During its Evolutionary Path, Microfinance is Getting More Expensive...


 
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During its Evolutionary Path, Microfinance is Getting More Expensive...
Ofwono Willy Osinde, Project Manager, Uganda

The idea behind microfinance if implemented well can solve rural poverty and propel development from below. However, during its evolutionary path, the proprietors of microfinance have factored in hidden costs and interest rates which in one way shoots the very foot that is supposed to support development. The lenders pay hefty interest rates and at the end of it all don't develop themselves but the microfinances. The high interest rates are in some cases explained by the high risks associated with doing the business, but can't there be a better system that includes many whilst taking into consideration their plight?
 

 















 

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