BAN ALL MICROFINANCE INSTITUTIONS IN GHANA!

THE IDEA OF THE MICROFINANCE SYSTEM IS BASED ON THE GRAMEEN BANK OF BANGLADESH. IT AIMS AT ERADICATING POVERTY AMONG RURAL PEOPLE IN BANGLADESH, ESPECIALLY WOMEN. IT IS MEANWHILE PROBABLY THE BIGGEST MICRO FINANCE INSTITUTION IN THE WORLD. FROM SMALL BEGINNINGS, IT DEVELOPED MASSIVELY, GIVING SMALL LOANS TO POOR – MAINLY RURAL-BASED – PEOPLE FOR ECONOMIC ACTIVITIES (A MORE INTENSIVE LOOK AT THE GRAMEEN BANK AND ITS SUCCESS AND CHALLENGES WILL FOLLOW LATER).
FOLLOWING THE SUCCESS OF THIS MICROFINANCE INSTITUTION, SIMILAR INSTITUTES SPRANG UP IN DEVELOPING COUNTRIES, ALSO IN AFRICA IN GENERAL AND GHANA IN PARTICULAR. Continue reading “BAN ALL MICROFINANCE INSTITUTIONS IN GHANA!”