In a study conducted by the World Bank in 2003 it noted that “the National Microfinance Unit neglected systemic issues in favour of a pre-occupation with short-term operational objectives”. This was a result of almost exclusive emphasis on microcredit and ignoring issues such as, savings, capacity building and the creation of an enabling environment.
2  BIS Review 88/2009  Consequently, the individual lending programme of the National Microfinance Unit was discontinued. In 2004, the Government merged the National Microfinance Unit with the National Centre for Small and Medium Enterprises (NCSMED). Let me share with you some statistics of the NCSMED on microfinance.