NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

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.