Microfinance sector expects more players

By Sam Banda Jr - The Daily Times

The Microfinance sector has made progress on the regulatory front and is expected to register more agencies by the end of this year. Malawi Microfinance Network (MAMN) Chairperson Fumbani Nyangulu has said.

 Nyangulu revealed that to date his institution has registered nine new non-deposit taking microfinance institutions and 11 new micro-credit agencies.

"We anticipate that the sector will register more than 20 micro-credit agencies by December 2014," said Nyangulu.

"Microfinance service providers and financial cooperatives are playing a pivotal role in the government's drive to extend financial services to underserved populations," said Nyangulu in an interview on Thursday 3 April.