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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Empowering poor rural villages in South Africa: a preliminary investigation into financial service cooperatives
Author:Nigrini, M.ISNI
Periodical:South African Journal of Economics
Geographic term:South Africa
Subjects:credit cooperatives
rural population
Abstract:One great problem facing rural people is access to financial services. High cost and low returns make them uninteresting to commercial banks. The theme of this paper is the Village Banks founded by the International Fund for Agricultural Development in 1994. Although these are found in many parts of Africa, this paper concentrates on those in South Africa, supplemented by comparative material from Kenya and Uganda. In South Africa such institutions are known as Financial Service Cooperatives (FSCs), whereas in the rest of Africa they are known as Financial Services Associations (FSAs). The author feels that the experiment in South Africa has been a great success, certainly more successful in reaching client markets than it has been in Kenya. This success is determined by outreach and sustainability indicators. In South Africa they are also fortunate in that they have been supported by the government and the South African Reserve Bank (SARB). Bibliogr., notes, ref. [ASC Leiden abstract]