Microfinance aimed to foster prosperity but stoked hardship for those borrowers who took on debt they couldn’t afford.

The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks across the country, citing their failure to meet key regulatory requirements for continued operations. The apex ...

The internal watchdog of the International Finance Corp. found that the lenders pressured borrowers to keep paying back loans ...

The growth is driven by non-microfinance products such as gold loans and MSME lending, even as the core microfinance ...