Micro Development Banks
MC2: the reason behind their creation
The need to create MC²s in rural areas in Africa is justified by the absence or weakness of savings mobilization instruments in under-privileged areas. In effect, to reduce poverty in rural areas, instruments are likely to increase the financial capacity of deprived people by molding their minds towards savings and facilitating loan procedures.
MC²s come as a response to this issue and intends to :
- Make the people understand that their tomorrow is in their hands;
- Bring out from the local people the vast managerial capacities they have in their cultural heritage;
- Make the rural people to sustainably take control. In other words, be victorious over poverty (VP) through means (M), competences (C) of the community (C), thus, the formula: VP= (M*C*C) = MC².