Problems with Microfinance: Beneficiaries Lack Financial Expertise

Microfinance
Knowledge Center

 

Next Topic

Microfinance > Forum > Problems with Microfinance: Beneficiaries Lack Financial Expertise

Problems with Microfinance: Beneficiaries Lack Financial Expertise
Emmanuel Daniel., Student (University), Tanzania, Member
Microfinance provides the poor with access to funds, but the beneficiaries are not well empowered to use them, due to a lack of financial skills and knowledge. The LACK OF FINANCIAL EDUCATION is the biggest challenge facing the poor. Poor people lack access to finance due to having poor resources. The financial institutions have to be shaped or structured not only in response of the needs of the poor but also account their resource capabilities and mostly considering the institutional sustainability.
 

 
Problems with Microfinance: Government must Provide Enabling Environment
Majoyeogbe Samson, CEO, Nigeria, Member
It is all about provision of financial services to the active poor, majority of them illiterate. To record any tangible success, there is the need for all stakeholders to be involved in providing enlightenment programs and business tips on how to manage and grow small scale businesses. And most importantly the regulatory bodies need to ensure the provision of an ENABLING ENVIRONMENT FOR ALL STAKEHOLDERS.
In my country Microfinance is becoming a major player in contributing to the GDP of our economy as it empowers households and SMEs to meet their immediate needs and by so doing putting smiles on the faces of those who initially had no access to funds.
 

     
Special Interest Group Leader

Interested? Sign up for free.


Microfinance
Summary
Forum
Best Practices


Microfinance
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2019 12manage - The Executive Fast Track. V15.1 - Last updated: 18-8-2019. All names of their owners.