Abstract：Micro-finance institutions are critical to Africa's quest for solutions to the continent's development challenge. The area of their greatest potential impact, rural Africa, is not only home to the bulk of the continent's population, but also the vast majority of Africa's poor. This paper not only defines MFIs with examples from Zambia, South Africa, Mali and Zimbabwe, it also establishes a clear link between MFIs and both poverty eradication and the empowerment and equality of women, two of the major Millennium Development Goals. The paper concludes with some policy recommendations and a set of “best practices” for the future success of MFIs on the continent, including the need to ensure flexibility and careful government regulation and supervision of MFIs.

Keywords: Development, Empowerment, Poverty, South Africa, Women

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