Why community microfinance groups contribution to financial inclusion drops
The Bank of Tanzania twin towers in Dar es Salaam. The latest survey shows that the level of CMG,s participation has dropped from 16 percent in 2017 to 12 percent in 2023. PHOTO | FILE
Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. In a concerning trend for advocates of financial inclusion, participation in Community Microfinance Groups (CMGs) has experienced a steady decline over the past five years.
The level of CMGs participation has dropped from 16 percent in 2017 to 12 percent in 2023, according to the FinScope Tanzania 2023 Survey.
