This report would not have been possible without the openness, patience and generosity of the staff of the five microfinance institutions profiled in its pages. I am grateful not only for the help but also for the friendship of Mekonnen Yelewumwosen and Getachew Andarghe of ACSI in Ethiopia, Anthony Fosu and Kwaku Acheampong of Sinapi Aba Trust in Ghana, Ramanou Nassirou and Abdella Oura Djobo of WAGES in Togo, John de Wit of SEF in South Africa, and Wesley Jordan of BOM in Mozambique. Also essential were the many people who shared their knowledge of microfinance with me during the.
