SME Banks in Africa – Growing Sources of Business Finance
In Africa, some of the best performing banks serve the small and intermediate enterprise population. Banking small businesses has constantly proved exigent for many large commercial banks. The reasons are that these small businesses usually fail to adjust into straight grouping, either personal or retail. Even they are short of constituents required by the conventional banks such as physical assets as collateral security, paper qualifications, audited financials, and a partition of individual and company accounts. In recent years, many best performing banks have greatly focused on the SME market. Initially, the scale of their balances sheets disallowed them from admitting the larger businesses because of incompetent payment systems.
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