Globalization

Just 24% of adults living in sub-Saharan Africa have a bank account with a formal financial institution. Only the Middle East/North African region has a lower participation rate, according to World Bank data. Over the past decade, however, microfinance in the region has gained momentum, with improvements in the regulatory environment, an increase in the operational efficiency of microfinance providers and continued donor interest in supporting the sector.

From the Scholars Strategy Network, written by Harley Shaiken, University of California, Berkeley.