Microfinance: Good For The Poor?
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The growth of microfinance in Africa since 2000 has been inspiring. Data by Microfinance Info Change, a non-profit organisation that keeps observe of the industry, reveals that from 2002 to 2012 the business expanded by greater than 1,300%. During this period, gross loan portfolio leapfrogged from $600 million to $8.Four billion. The number of microfinance customers or depositors shot from 3 million to 20 million, with active borrowers increasing from three million to 7 million.
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