I think that you should seek help from an attorney and an accountant in your area.  Microfinance companies are, as I understand them to be, private lenders who lend to those individuals that may not be able to obtain loans through traditional banks due to their credit rating, etc. They would be considered too high a risk.  But if you are going to accept deposits you may indeed need to be licensed and registered.  Lending activities are generally regulated activities.  I would make sure that you are up to speed with the requirements in Africa as well as here in the United States.  Other countries, such as India, do regulate MFI's as they are a very popluar form of lending institution, more so than here in the Untied States.   So compliance there is very important as well.  Good luck.