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Getting a Bank Loan in Africa isn’t the Most Inclusive Experience for Everyone
Source: SG Editor·
Tanzania marks its debut at the Mining Indaba, showcasing its mining sector to international investors.
Africa is home to over 350 million people who have never had a bank account. That already excludes a chunk of the population from accessing credit. There’s the usual slow application with lots of paperwork. And then, banks have a checklist that leaves people out – a steady income, a minimum volume of inflows through your account, and an amount that stays in your account. Most of these requirements are out of reach for the average African.