President Mwai Kibaki has challenged micro-finance institutions to reduce the cost of credit and expand their services to meet the growing needs of low-income earners. A vibrant micro-finance, which thrives on issuing tiny loans, the President said, would boost the country’s development. “Due to the central role the micro-finance sector plays in national development, several challenges that stand in the way of achieving universal access to financial services among the poor need to be fully addressed,” he said on Wednesday when he officially opened the Africa-Middle East Regional Micro-Credit Summit at Kenyatta International Conference Centre, Nairobi. Read full story