Follow the Money: Why Wholesale Finance Matters for Microenterprise

The focus of this paper is on the important role of wholesale finance in shaping the inclusive finance sector and the contribution of shallow wholesale markets to the high cost of productive microcredit in Africa. It offers a view on who is beginning to successfully tackle this problem and what funders can do to improve the flow of wholesale finance, ideally from lower-cost domestic sources of capital.

This publication is part of FinDev Gateway’s collection on women’s economic opportunity, bringing together research, insights, and learning from work across seven countries. Explore the collection for related research, interviews, blogs, and other resources.