Problems with Microfinance: Beneficiaries Lack Financial Expertise

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Microfinance > Forum

Emmanuel Daniel., Student (University), Tanzania
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. (...) Read more? Sign up for free

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  Majoyeogbe Samson, CEO, Nigeria
 

Problems with Microfinance: Government must Provide Enabling Environment

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.

 
More on Microfinance
Summary
Forum
🔥PROs and CONs of Microfinance: An Overview
Problems with Microfinance: Beneficiaries Lack Financial Expertise
Microfinance Types: Group and Individual Lending
Best Practices
🥇What is Financial Inclusion?
🥈Accreditation in Microfinance / Financial Inclusion
🥉Disadvantages of Microfinance / Microloans. Risks
What is Poverty Reduction in Development Economics?
History of Microfinance
Microfinance Counseling is Necessary
Middle Class is Key for Improving Quality of Life
Micro Financing Helps
Using Post Offices Towards Microfinancing
Micro Finance is for Business People
Recent Microfinance Trends
Micro Finance for Persons with Disabilities
Is Microfinance a Success?
Microfinance & Microcredit Need Kind-hearted People
Microfinance Needs Trust
During its Evolutionary Path, Microfinance is Getting More Expensive...
Microfinance Impact on Rural Development
Microfinance for Housing (MFH)
Microfinance Research and Intelligence
Non-interest Banking
Taxation of Microfinance Institutions
Influence of Economic Crisis on Microfinance
Management and Business Coaches Needed in Microfinance
Microfinance Challenge: Solvency of the Borrowers
Exclusion of Conventional Commercial Banks from Establishing Micro-finance Banks
What is the Best Way to Manage Microfinance in Sudan?
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