Limited access to background data hinders access to credit

Data collection, he said, is an expensive investment, therefore, stakeholders need to collaborate through pooling resources for better results. FILE PHOTO

What you need to know:

  • Reach: By using data, risks to financial service providers can considerably be reduced, which can accelerate their reach in rural areas. Such data also needs to be analysed for financial institution to properly understand their clients.

Kampala. Small holder farmers have failed to access credit and other financial products such as insurance, because banks lack access to their background data.

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