Micro finance is generally seen as the business of accessing or providing financial services/ products to the poor or low income earners on a sustainable basis; eg. Micro credit, savings, micro insurance, money transfer
However, Micro financing is the provision of financial and non financial services/product to individuals, groups, small and medium scale entrepreneurs who are into productive ventures on a sustainable basis.
- Service Sector – Hairdressing, Tailoring etc
- Farming- ( food crops, Fruits , vegetables, livestock and poultry farmers
- Service Providers
The microfinance products and services targets both Men and Women between the ages of 18 to 60 who are:
Economically active but not start-ups.
Low income earners with emphasis on Women
Microfinance Technology & Delivery Methodologies
Microfinance Technologies and delivery methodologies are:
Activity based groups.
- Individual activity group- Solidarity group – where small groups are formed within an association.
- Individuals e.g. Service Providers, Artisans, etc.