Today, across Africa, millions of people will use credit. However, most people use informal credit systems to borrow money to grow their businesses or enterprises and many of this systems are risky and have a limited resource that can be availed. That notwithstanding, in Africa formal credit services are now available through MFI’s, banks, cooperatives, yet still many remain both unbaked and cannot access required credit to uplift their livelihoods

Getting people who have never used formal credit services before – or who have access to formal credit services, but don’t use them – to change the habits of a lifetime is a major challenge. 

But if we are to help millions of Africans lift themselves out of poverty, reduce inequality, and strengthen entire economies, we need to get them understanding, and using formal credit services. Know what a credit record is, and why it matters. Understand the power of credit to grow their businesses, expand their farming operations or reach their financial goals. Be confident in knowing their credit status, and requesting a credit report.