Financial Inclusion in Africa: What Role for Microfinance*

Financial inclusion is important for economic growth because it plays a dual role. While creating access especially to operators in the informal sector, it will enhance financial deepening thus embracing both breadth and depth dimensions of financial development. In other words, financial inclusion to be relevant for economic development must focus on the core elements of financial intermediation such as savings mobilization and asset transformation, risk mitigation and enhancing efficiency in the corporate sector by monitoring management and exerting corporate control.