Many countries in Africa have established interest rate ceilings to protect consumers from high interest rates charged by microlenders. However, despite good intentions, interest rate ceilings can actually hurt low-income populations by limiting their access to finance and reducing price transparency.
The branchless banking market in Ghana is promising but has not gained traction as expected. CGAP and Tigo Cash decided to collaborate in order to better understand what’s preventing Ghanaian customers from actively using mobile money.
Madagascar is among the poorest countries in Africa and also ranks low on the continent for financial inclusion. However, there is a great deal of innovation taking place in the country targeted at people living in rural areas.
In the coming weeks we will share with you insights into financial inclusion developments in Sub-Saharan Africa, as we learn more about consumer insights, product development, business models and the enabling policy environment required to improve