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Microfinance institutions needed to drive financial inclusion

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There is a need for microfinance institutions to spearhead the drive for financial literacy and inclusion in the country so as to harness the untapped potential of individuals and businesses currently excluded from the formal financial sector, enabling them develop their capacity to engage in income generating activities.

According to Vanguard findings, most people at the bottom of the pyramid, especially, small business owners, micro entrepreneurs have the impression that saving money, either in a water tank or pit is safer than banks.

For more on this story visit the following link: Microfinance institutions needed to drive financial inclusion

Source: Financial Watch

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