Imagine if we stopped talking about financial inclusion and focused on wealth creation instead. The only way to bank the unbanked is through debt-trapping schemes that make the poor even poorer. Wealth creation requires individuals to be productive first before they borrow
@amufuruki
I concur with you Bw. Mafuruki. We need to move past the romanticisation of the access to FI to how it's done and its impact to people's lives.
@amufuruki
@motowntz
Most of the food that we ordinary people consume in Tanzania is produced by mainly small scale farmers who make up ~70% of the population. Are these farmers productive? How often do local banks extend loans to them, if they are productive?
@amufuruki
Wealth creation can be reached through financial inclusion with right infrastructure in place. With due respect I don' think if you reached where you are without borrowing.
@amufuruki
Wealth creation should always be the end goal. Financial inclusion is merely the means. For inclusion to lead to wealth creation then economic productivity needs to be married with the right kind of capital addressing the most valuable investment/financial gaps and opportunities.