Wednesday, May 18, 2005

Microfinance warning

The Association of Microfinance Institutions of Kenya released a statement refuting allegations that microfinance institutions are defrauding Kenyans. They point out that a lot of loan-sharks/shylock operators are pretending to be microfinance institutions and causing the confusion – and that that micro-finance loans average about 30,000 shillings, which is not enought to finance the car/matatu purchases that many Kenyans are signing on with these shady operators.

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