Analysis: Nigeria’s Microfinance Banking Dream on Brink of Failure
By Geoff Iyatse
With the recent licence revocation of some microfinance institutions, the Nigerian economy is currently being serviced by about 700 microfinance banks. Matched with the estimated 36.9 million existing micro businesses, there are an average of 53,000 businesses competing for funding from each available micro-lender. But the nagging poor access to funding for micro businesses is much deeper than this ‘simple’ arithmetic, Geoff Iyatse writes.