Micro Finance in Africa

The concept of providing small loans or microfinancing at little or no interest to help people in developing countries work their way out of poverty is a growing phenomenon. The loans greatly benefit those trying to develop a small business, but who have no collateral for a commercial loan. Some economists contend that microfinancing is particularly helpful for women who have to struggle against repressive social and economic conditions. VOA’s Paul Ndiho has the story.

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