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Lessons for African microfinance providers and regulators in the aftermath of COVID-19
Enterprise Development & Microfinance ; 33(3):182-191, 2022.
Article in English | CAB Abstracts | ID: covidwho-2154651
ABSTRACT
This paper is concerned with microfinance in Africa post Covid-19, a crisis from which the continent is still recovering while new crises such as climate change challenges emerge. The resilience of the microfinance sector to crises must not only address operational weaknesses revealed by the pandemic, but also exploit the post-crisis potential to build resilience in areas such as digitalization and smallholder agriculture. New rules and regulations should target microfinance providers (MFPs) and enable them to quickly comply with new rules and those normally in force. This paper calls for the inclusion of all forms of MFPs, allowing for customized applications of policies and regulations. Moreover, measures for regulators include re-defining post-COVID-19 target groups, enhancing liquidity and MFP risk-based management, ensuring sustainability and best practices, activating prompt monitoring of the sector, and ensuring a consultative and coordinated culture. Measures for MFPs include increased micro-saving, avoiding subsidies, unlocking the full potential of smallholder farmers, a strong movement towards inclusive digital finance, product development, and partial movement towards crises-resistant, non-interest types of lending in countries with Muslim minorities.
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Full text: Available Collection: Databases of international organizations Database: CAB Abstracts Language: English Journal: Enterprise Development & Microfinance Year: 2022 Document Type: Article

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Full text: Available Collection: Databases of international organizations Database: CAB Abstracts Language: English Journal: Enterprise Development & Microfinance Year: 2022 Document Type: Article