Bangladesh PM Sheikh Hasina will be in India to attend the G20 summit and it is an opportunity for us to join many notable global thought leaders in urging a halt to the harassment of Yunus, who helped or inspired so many of India’s microfinance institutions take the first steps on the long road to success
Olumuyiwa Olowogboyega
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Small and medium businesses across Africa often have a hard time getting loans; OZÃ, a Ghana-based fintech startup, wants to change that.
In Nigeria, small and medium enterprises (SMEs) account for 96% of businesses and 84% of employment. They also contribute 46% to Nigeriaâs gross domestic product (GDP).
If SMEs succeed, Nigeriaâs economy will be better for it. Yet, one key determinant for success, access to credit, is still a big problem.
âAccording to the Banking and Other Financial Institutions Act(BOFIA), the Nigerian government, and by extension CBN, have mandated banks and other lenders to ensure loans have to be securitized by any form of collateral.