Microfinance competition has been transformed over the past two decades by forces such as regulation, increased commercialization, technological changes and competition from the formal banking sector. These developments have implications on Microfinance institutions (MFIs) profitability. This...

Since the seminal work by Modigliani and Miller in (1958) and the subsequent revision of their initial position (1963), several studies have shown that capital structure influences performance of corporate entities. Although the empirical evidence remains mixed and contestable, microfinance...

There have been profound changes in both political and economic institutions in Africa economies over the last 20 years. These changes vary from one country to another. This study contributes to the literature on microfinance profitability by examining whether profitability depends on the...

While microfinance institutions (MFIs) in other regions have continuously reported positive profits, those operating in Africa economies continue to post negative profits. Why has this remained so? This study uses unbalanced panel dataset comprising of 210 MFIs across 32 Africa economies,...