A former student used to work for a microfinance institution in Kenya. He quitted: he wasn’t comfortable with the high rates and fee charges of traditional microfinance loans (37 % average). Meant to promote financial inclusion, these loans may end up making borrowers poorer than they were. At the same time, the super-high interest rates […]
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Drivers of African Entrepreneurship
Entrepreneurship in Africa is in the spotlight these days. Obama’s participation at the Global Entrepreneurship Summit (GES) in Nairobi last weekend brought it to the forefront. I could feel the buzz when I travelled to Nairobi last month. The city was getting ready for the Presidential visit. The GES provides an opportunity for emerging entrepreneurs […]