It all started in the 1970s with the Nobel price laureate Mohamed Yunus, who was the first to experiment with the provision of very small – or micro- loans to people in Bangladesh. He then founded the famous Grameen bank. And nowadays, it cannot be denied that microfinance has successfully enabled extremely impoverished people, especially women, to engage in self-employment projects.
Recent technological innovations in mobile banking have provided opportunities for financial inclusion, with clear implications for financial stability. 11. The third focuses on Central Banks’ strategies for promoting investor confidence and industrial development in Africa. The most effective channel for industrial development is greater private sector participation.