The Microfinance Sector in Central African Republic
This presentation provides an overview of the microfinance sector in the Central African Republic (CAR). It analyzes:
- Formal, semi-formal and informal financial sectors in the CAR;
- Constraints to access to the banking sector;
- Demand and supply for microfinance services in CAR.
The presentation highlights that:
- There is a lack of human and financial resources for the potential concurrent microfinance institutions (MFIs);
- MFIs ignore new regulations;
- Microfinance services provided by non-government organizations (NGOs) are accessories to other activities such as capacity building, AIDS sensitization, and agricultural development;
- There is no national strategy to develop the microfinance sector in a sustainable manner;
- CAR's Microfinance Unit does not have a clear institutional position within the Ministry of Finance.
The presentation concludes with the logical framework for UNDP program for microfinance sector in CAR. The objectives of which include:
- Reinforcement of governmental bodies in charge of coordination, follow-up and control of microfinance activities;
- Strengthening of MFIs to offer financial services to the unbanked population;
- Elaboration of National Support Program for Microfinance.