New Book Published on the Development of Microfinance in Malawi

Study has implications and lessons that could benefit similar programmes across Africa

New York, 7 October 2005: The United Nations Capital Development Fund announced today the publication of a new report that assesses the achievements and challenges for microfinance service delivery in Malawi, with particular attention to rural and agricultural markets. The report was produced through a collaborative partnership with the US Agency for International Development and the UN Development Programme.

Expanding Access to Financial Services in Malawi, available online and through most major bookstores, identifies key elements that have influenced the development of Malawi's financial system, and provides recommendations and opportunities for investors, donors, government and private sector entities to support the development of an inclusive financial system. The recommendations focus on getting key policies right, promoting innovation in financial markets, supporting the integration of fragmented markets along the agricultural value chain, promoting transparency and accuracy in institutional performance reporting, and most critically providing financial and technical support to financial institutions that have the appropriate operating and governance structures to intermediate savings in rural areas, where the most challenging but greatest potential markets exist.

"We are very excited that this book, a work in progress for two years that involved the input and participation of many partners, is being made available to the general public," said UNCDF Senior Technical Advisor and principal author of the report, Kiendel Burritt. "We hope that it will make a significant and substantial contribution not only to the development of inclusive financial services in Malawi, but across all of Africa."

This report also defines basic microfinance concepts and refers the reader to Internet links and other resources to deepen their understanding of microfinance and relevant issues. The reader is invited to use these resources as a basis to challenge and/or deepen some of the conclusions presented in this report and advance the dialogue on inclusive financial systems in Malawi.

Link to the online version of the book:

http://www.uncdf.org/english/microfinance/docs/technical_review/200510_Access/index.php