Some Aspects of the New Microfinance Law in Zimbabwe

Tsanangurai Makuyana

Abstract


This paper analyses the new Microfinance Act [Chapter 24: 29] in order to reveal the shortcomings in the law and to suggest areas of possible improvement. The study was carried out using a purely desktop legal research method wherein a critical review of the piece of legislation was done against the theory surrounding microfinance business principles. The study concluded that the new Microfinance Act in Zimbabwe has a considerable number of shortcomings born out of both drafting loopholes and outright lack of thrust of principles promotive of the growth of the microfinance sector in the country.

DOI: 10.5901/mjss.2017.v8n3p209


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This work is licensed under Creative Commons Attribution 3.0 License.

Mediterranean Journal of Social Sciences ISSN 2039-9340(Print) ISSN 2039-2117(Online)

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