The discussion earlier in this blog about microsavings vs. microlending made me think that I should borrow from the expertise of you readers out there.
I have a general sense that microfinance has been very successful in South Asia, but that in Africa it has had more of a mixed record. Do others share that view? And, if it’s true, why hasn’t it been as successful in Africa as in Asia? I can imagine that lower population density means higher operating costs, and that lower economic growth rates mean fewer opportunities to invest successfully. Or is it, as Muhammad Yunus once told me, that the models in Africa sometimes haven’t been quite right, but that when they are introduced properly they work as well in Africa as in South Asia?
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