SETTING UP POOR PEOPLE FOR LIFE 7: Sustainable Solutions to Poverty Alleviation

The need for economic development in Sub-Saharan Africa is vital as over 40% of the population, or 300 million people, live on less than $1 a day. A steady path to development and true poverty alleviation has continued to elude Africa as this region is home to two-thirds of the world’s 48 poorest countries. Africa’s largely rural population and its agriculturally intensive economic structure require microfinance organizations to develop new and innovative ways to expand and tackle poverty. This expansion is acutely important as currently only 0.35% of Africans are MFI clients. As the African microfinance industry grows and develops, it will face unique challenges such as the acute lack of infrastructure, the spread of HIV/AIDS, malaria, and tuberculosis, civil conflict, and environmental degradation.

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