Abstract: Less than a quarter of adults in Sub-Saharan Africa have access to formal financial services. Lack of access to finance is a key constraint on the growth of small and medium enterprises in Sub-Saharan Africa, and thus also an important limitation on employment, economic growth, and shared prosperity. Supporting microfinance institutions, mobile financial services, micro-insurance, credit bureaus, collateral registries, securities markets, and financing to micro, small and, medium entrepreneurs, International Finance Corporation's (IFC's) access to finance advisory services program in Sub-Saharan Africa aims to strengthen the continents fight against poverty and to promote inclusive economic growth. IFC's access to finance program in Sub-Saharan Africa provides advisory services to financial institutions and other clients in order to increase access to financial services for households and small and medium enterprises and to strengthen the functioning of financial systems across the continent. In fiscal year 2013, IFC's access to finance in Sub-Saharan Africa ran 44 projects in 19 countries, to a total value of 60.7 million dollars. A key part of all IFC access to finance programs in Sub-Saharan Africa is to share experience and knowledge with the broader development community, and to contribute to the building of a regional and global community of practice on financial inclusion.
Publication Year: 2013
Publication Date: 2013-01-01
Language: en
Type: article
Access and Citation
Cited By Count: 8
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