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Warning to microfinance institutions in Africa: innovate or die
01.12.2009
For a long time, microfinance institutions in Africa have been content with being mainly microcredit specialists without much regard to the real needs of their customers. But in recent years the customer profile has drastically changed; customers are now more exposed and savvy and they question everything from price to design. The commercial banks and the mobile network operators have joined the fray. So unless microfinance institutions change, they will slowly but surely die a natural death.