The Magharebia, a website which covers news about northwest Africa, reports that youth in Algeria, Morocco and Tunisia are increasingly utilizing microcredit to counter unemployment [1]. In Algeria, the National Youth Employment Support Agency (ANSEJ), a government program that helps entrepreneurs access loans, reports that the number of applications from young candidates rose by 330 percent in the first half of 2011. In Morocco, the number of microcredit beneficiaries is reportedly up by 162 percent since 2005 while the number of loans is up by 26 percent for the same period. Women reportedly constitute approximately 64 percent of the microloan recipients in Morocco. In Tunisia, the demand for microcredit has reportedly increased following the revolution in January.
The ten microfinance institutions (MFI) in Morocco that submit data to the US-based nonprofit Microfinance Information Exchange (MIX) report an aggregate loan portfolio of USD 611 million and approximately 919,000 borrowers. From Tunisia, one MFI submits data to MIX reporting a loan portfolio of USD 41.4 million and approximately 123,000 borrowers. No MFIs report to MIX that they operate in Algeria.
The Magharebia site is sponsored by the United States Africa Command, the “military command responsible for supporting and enhancing stability, cooperation, and prosperity” in the Maghreb region of Northwest Africa.
By Nisha Koul, Research Associate
Sources and Additional Resources:
[1] Magharebia, “Microloans give Maghreb youth economic boost,” http://www.magharebia.com/cocoon/awi/xhtml1/en_GB/features/awi/features/2011/08/05/feature-03
MicroCapital.org story, August 11, 2011, “MICROCAPITAL BRIEF: Microfinance Portfolio Risk Jumps in Tunisia, Egypt, As a Result of Political Unrest,” https://www.microcapital.org/microcapital-brief-microfinance-portfolio-risk-jumps-in-tunisia-egypt-as-a-result-of-political-unrest/
MicroCapital.org story, May 16, 2011, “MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Microfinance Blog Explores Impact of Tunisian Revolution on Microfinance Regulation,” https://www.microcapital.org/microcapital-brief-cgap-consultative-group-to-assist-the-poor-microfinance-blog-explores-impact-of-tunisian-revolution-on-microfinance-regulation/
MicroCapital.org, June 1, 2010, “MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2009 Arab Microfinance Report with Focus On Microfinance Sector Crisis in Morocco,” https://www.microcapital.org/microcapital-brief-microfinance-information-exchange-mix-releases-2009-arab-microfinance-report-with-focus-on-microfinance-sector-crisis-in-morocco/
MicroCapital.org story, January 20, 2010, “MICROCAPITAL BRIEF: Moroccan Government Supports Microfinance Industry’s Path to Recovery in 2010,” https://www.microcapital.org/microcapital-brief-moroccan-government-supports-microfinance-industry%E2%80%99s-path-to-recovery-in-2010/
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: EBRD Loans $21m to BMCI of Morocco as Part of Women in Business (WiB) Program
- MICROCAPITAL BRIEF: Bank of Africa, Sanad Fund Deploying $27m for SME Finance in Morocco
- MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda
- MICROFINANCE PAPER WRAP-UP: “Assessing the State of Youth Financial Inclusion in Developing Contexts,” by Niclas Benni, Published by FAO
- MICROCAPITAL BRIEF: Money Transfer Firms Suspend Fees for Payments to Libya, Morocco in Response to Disasters
