Microfinance in Africa

The pandemic has emphasised, beyond a point of reasonable doubt, the importance of technology to our modern world. Just as video calling and messaging have allowed us to work, study and socialise, fintech has played a similarly critical role in ensuring that people can still access the banking system. However, entirely too many people still lack access to financial services, leaving them without recourse in these unprecedented times. Financial inclusion is vital if we are to ignite economic growth, yet major obstacles remain. Reports suggest that as many as 40% of Nigerians are excluded from the banking system. To bring basic banking to everybody, we must still contend with limited access to technology, insufficient infrastructure, isolated areas, jealous hoarding of data by traditional in...