Top 10 News
Getting a Bank Loan in Africa isn’t the Most Inclusive Experience for Everyone
By 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.