Tag Archives: Taiwo Joda Managing Director of Accion

Why lending rates are high in microfinance banks — Operators

Chief Executive Officers of Microfinance Banks (MfBs) have attributed the high interest rate charged by the banks to the high cost of doing business in the sub-sector. Speaking to Financial Vanguard, the chief executives noted that unlike commercial banks, MfBs don’t have access to cheap funds, and they also spend more resources per customer than what commercial banks spend. Taiwo ...

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