When Microfinance Gets Involved with SMEs: Experience with Cooperatives of Producers
The raison d’être of microfinance is to provide access to financial services to those who are excluded from the usual sources. Rapid progress has been made, particularly with very small enterprises in urban areas. But it has to be said that there is still a lot to be done: small and medium-sized enterprises (SMEs) are missing out. 90% of privately-owned companies in Africa are SMEs, but only 10% have access to any funding, making it difficult for them to grow.