Cash call
Microlending might work better if it were more impersonal
GETTING a microloan is far easier than getting a bank loan. But in east Africa many people have access to an even easier source of credit. It takes just a few taps on a phone to obtain a short-term loan, which will arrive in a mobile-money account almost immediately. It is an exciting, scary development, says Dean Karlan, a development economist at Yale University.
This article appeared in the International section of the print edition under the headline “Cash call”
International October 8th 2016
From the October 8th 2016 edition
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