Some Aspects of the New Microfinance Law in Zimbabwe

Makuyana Tsanangurai
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Makuyana Tsanangurai: National University of Science & Technology Department of Insurance and Actuarial Science, Bulawayo, Zimbabwe

Mediterranean Journal of Social Sciences, 2017, vol. 8, issue 3, 209-217

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.

Keywords: Microfinance Act; Law; Interpretation; Consumer protection (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:mjsosc:v:8:y:2017:i:3:p:209-217:n:15

DOI: 10.5901/mjss.2017.v8n3p209

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