•  Fourth, another speciality of this region is the preponderance of non-formal and informal, but riskier avenues for savings. This region is replete with history of the socalled blade companies, varieties of formal and informal chit funds, ponzi schemes, emu farms and other types of attractive schemes.
These schemes have time and again captured the imagination of gullible, and even not-so-gullible people of this region, very often lured them into losing their hard earned savings. These ever running episodes only clearly establish the failure of the formal financial system, including the banking system, in catering to the savings, investment and risk taking needs and appetite of these masses.