Microfinance Regulation and Supervision in Zimbabwe: A Critical Overview

Abstract

This paper critically evaluates the key provisions of the new Microfinance Act in Zimbabwe and other related pieces of legislation. The study is not an exposition of debates and theories about microfinance regulation and supervision in general but one focused on a specialized piece of law and its related institutions. The aim of the study is to evaluate the regulatory framework at place for microfinance business in Zimbabwe in order to establish the extent to which the growth of the microfinance sector is promoted from a legal point of view. The classical legal research method was employed in this study wherein a critical analysis of the law was done and leveraged through a review of related literature. The paper concludes that a new specialised microfinance law in Zimbabwe is a welcome development although certain aspects of the law still need improvement.

DOI: 10.5901/mjss.2016.v7n1p376