Access to finance in Sub-Saharan Africa sparks economic growth and prosperity.
Less than a quarter of adults in Sub-Saharan Africa have access to formal financial services, which limits the growth of small businesses and overall economic development. The International Finance Corporation (IFC) is working to improve access to finance in the region through programs supporting microfinance, mobile banking, and other financial services. In 2013, IFC ran 44 projects in 19 countries in Sub-Saharan Africa, totaling $60.7 million, to help strengthen financial systems and promote inclusive economic growth. The goal is to fight poverty and create more opportunities for households and small businesses by sharing knowledge and experience with the broader development community.