> Posted by Center Staff
We’re excited to see MIX‘s latest contribution to creating a world where full financial inclusion is a reality!
Until now, there has been a lack of transparent and detailed information on financial services for the poor in Africa, which has contributed to limited growth and investment in the sector. This week, however, MIX launched the “Africa Map of Financial Inclusion for the Poor” in partnership with The MasterCard Foundation, to help practitioners and policymakers better understand access to finance in Africa.
In addition to the raw data from surveys and analysis of the data, MIX released a visual map, which provides a comprehensive view of the African landscape in order to raise the visibility of institutions serving the poor in sub-Saharan Africa and to steer future improvements in financial inclusion.
MIX’s research has already uncovered:
- Financial institutions targeting the poor manage over 71 million accounts across sub-Saharan Africa
- The sector has a reach that covers 44 million deposit accounts and 20 million loans
- Mobile banking services reach at least 18 million, although concentrated in a few flagship markets
The Microfinance Information Exchange (MIX) is the premier source for microfinance data and analysis. MIX’s mission is to promote microfinance transparency through integrated performance information on MFIs, investors, networks, and service providers associated with the industry. MIX provides objective data and analysis with the goal of strengthening the microfinance sector.
To learn more about the new “Africa Map of Financial Inclusion for the Poor,” and for contact information at MIX, please read the full press release.
For more information, sign up for updates from the Financial Inclusion 2020 campaign.
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