Saving as a Path for Female Empowerment and Entrepreneurship in Rural Peru

Abstract

Much research has identified the difficulties of promoting women’s empowerment using microcredit, but there has been little research on the potential for empowerment from promoting women’s savings. We address this gap through a qualitative study of three women’s savings programmes in the Highlands of Peru. The results reveal changes in several domains of women’s lives (economic, personal and relational), emphasizing that these programmes enable them to think about the future, expand their social support networks, and become entrepreneurs. We conclude that savings interventions have considerable advantage over microcredit programmes for facilitating female empowerment and that the merits of these interventions go far beyond financial inclusion with significant impacts on women’s psychosocial well-being and broader empowerment.

Understanding the dimensions of women entrepreneurs’ empowerment: a systematic review of the microfinance literature and avenues for research

“…It is argued that by providing women with access to financial services as well as nonfinancial services, microfinance institutions allow women to enter the financial, economic and entrepreneurial system (Daher et al, 2022). Such a microfinance intervention entails a boost in human capital development like the female leadership, organizational competences and business/entrepreneurial skills (Huis et al, 2019a, b); increased income for women (Adhariani, 2022); more financial autonomy and economic independence (Yazıcı C€ or€ ut and C€ or€ ut, 2022); more women's ability to make small and large purchase on their own (Ekele et al, 2018); more involvement in the family expenditure and household welfare (Bansal and Singh, 2020;Alshami et al, 2021); and better employment prospects (Agarwala et al, 2022).…”

“…It is argued that by providing women with access to financial services as well as non-financial services, microfinance institutions allow women to enter the financial, economic and entrepreneurial system (Daher et al ., 2022). Such a microfinance intervention entails a boost in human capital development like the female leadership, organizational competences and business/entrepreneurial skills (Huis et al.…”

“…More practically, women feel comfortable to express their opinions and ideas in public affairs as well as to their husbands (Bercaw, 2012; Dutt and Sharma, 2016). Such a voice empowerment enables women to mark their presence in the community and to benefit from a better social dignity or status (Qazi and Rashidi, 2018; Islam, 2020), to experience more social interactions and a better physical mobility (Islam, 2020; Agarwala et al ., 2022), to access a large supportive network (Daher et al ., 2022), but also to show a higher ability to resist social norms (Amankwa et al ., 2021; Adhariani, 2022). Financial dimension…”

Autonomía económica y género en el sector rural de América Latina

“…El tema de las microfinanzas rurales por el lado del ahorro es abordado por Daher et al (2021); señalan que el ahorro tiene un potencial importante para empoderar a las mujeres y generar cambios en distintas dimensiones de sus vidas. Lo importante, más allá de la inclusión financiera, es el impacto en el aspecto psicosocial, lo cual las impulsa a pensar en su futuro, a emprender y a ampliar sus redes.…”

The right to dream: A cross‐sectional look at poverty alleviation programs

“…Even though some of these models have been criticized due to lacking rigorous measurement methodologies, they have also represented a contribution due to integrating both tangible and intangible aspects (Raczynski, 2002), thus adding diversity that can yield more pertinent strategies. Based on Daher et al (2019), the approaches to poverty described above can be grouped into three major models: Traditional Model, Expansion Model, and Emergent Model (Table 1).…”