Microfinance is the provision of financial services to low-income individuals and small businesses who are often excluded from traditional banking systems. Microfinance businesses offer a range of services, including microloans, savings accounts, and insurance. They play a vital role in promoting financial inclusion and empowering low-income communities.
Microfinance has been shown to have a number of benefits for low-income individuals and small businesses. These benefits include increased access to capital, improved financial management skills, and increased economic opportunities. Microfinance can also help to reduce poverty and inequality.
