Women Empowerment Through Microfinance:  Empirical Evidence from Ghana

Addai, Bismark

doi:10.11648/j.jfa.20170501.11

Cited by 51 publications

(51 citation statements)

References 32 publications

(43 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Thus, when women are empowered through micro-financing, the largely society stands to benefit. Addai (2017) found that most women depend on family and friends for financial support and that an increase in access to micro-finance will more likely increase the probability of women's economic and social empowerment.…”

Section: Resultsmentioning

confidence: 99%

Exploring the Contributions of Microfinance Institutions to the Ghanaian Economy: A Study at Takoradi

Odoom¹,

Fosu²,

Ankomah³

et al. 2019

JESD

View full text Add to dashboard Cite

Microfinance Institutions (MFIs) play an important role in making services available to the financially excluded masses, especially the needy and the informal sector. MFIs do not only have a considerable influence in reducing poverty but are able to do so in a manner that is sustainable. These institutions predominantly are regarded to be critical tools for growth in battling poverty and over-reliance on central and local governments, in several developing nations including Ghana. In spite of the above, MFIs face a number of challenges in Ghana, with the news of collapse of some MFIs which has become a cause for concern to various stakeholders. This tends to create some doubts regarding the role MFIs play in the Ghanaian economy. Using Takoradi as a case, this study sought to examine the views of operators and employees of MFIs with regard to the contributions of the institutions to the economy of Ghana through descriptive survey design in a quantitative research approach. The researchers adopted the purposive and simple random sampling techniques in selecting 114 respondents for the study, with questionnaire as the research instrument. Analytical tools used for the study were frequencies, percentages and an independent sample t-test. The study revealed that in terms of their types based on client base, most microfinance institutions operating in the city targeted SME operators. Also, based on their services, MFIs in the city were grouped into individual lending, group lending, compulsory and voluntary savings, among others. Again, the study found that MFIs in Takoradi contribute variously to the local economy including provision of financial capital to the people; income generation; employment creation; engaging the non-formal economy and providing support for SMEs to grow. Other contributions are in the areas of women empowerment; savings culture, credit facilities, asset creation tools and financial literacy. It is recommended that MFIs collaborate with local authorities including the District Assemblies and Business Advisory Centres to come with measures to ensure penetration into the rural areas in order to improve the conditions of the rural folks.

show abstract

Section: Resultsmentioning

confidence: 99%

Exploring the Contributions of Microfinance Institutions to the Ghanaian Economy: A Study at Takoradi

Odoom¹,

Fosu²,

Ankomah³

et al. 2019

JESD

View full text Add to dashboard Cite

show abstract

“…Several researchers have tried to identify the main challenges faced by the clients of microfinance institutions (MFIs), and they usually come to a similar conclusion. According to Addai (2017) and Wulandari and Kassim (2016), one of the major challenges faced by clients of microfinance institutions is the issue of collaterals. Most clients of MFIs are unable to afford the collateral demanded by the MFIs especially if the clients demand higher amounts.…”

Section: Challenges Facing Clients Of Mfismentioning

confidence: 99%

“…The manifestation of the poor people that they can be reliable as bank customers is the supreme achievement of micro-financing. Microfinance has been an important tool for economic empowerment and poverty alleviation, especially in Africa, Asia, and other underdeveloped countries in other continents (Donou-Adonsou & Sylwester, 2016;Addai, 2017).…”

Section: Introductionmentioning

confidence: 99%

Assessing the Impact of Operational Flaws on the Performance of Microfinance Institutions in Ghana

Gyimah¹,

Agyeman

Adu-Asare³

2020

IFB

View full text Add to dashboard Cite

Microfinance institutions contribute significantly to the development of a country, and many of these institutions are found in most developing countries including Ghana. However, many challenges have been alleged to stifle the efforts of microfinance companies in their attempt to make their all-important contribution to the development of nations. This study explored the effect of operational flaws on the performance of microfinance institutions in Ghana. The results discovered flaws and challenges associated with the operations of the MFIs in many areas including corporate governance, credit risk management, credit administration, regulatory challenges, and training programs. The study also revealed that such flaws and challenges do harm the overall performance of the MFIs. Based on the findings, it is recommended that MFIs put in place a well-composed and resourceful credit committee to perform the duty of credit risk management in the institutions. The institutions could also reduce their interest rates to encourage their clients to apply for more loans. Lastly, it is recommended that the MFIs take all necessary steps to ensure that they reduce the flaws and challenges they face to mitigate the negative impact of such deficiencies on their performance.

show abstract

“…Their involvement in intrahouse decisions is because of their matured relationship with spouse. Conversely, microcredit provides little progress in women's participation on major household purchase since micro loans improve the confidence of their spouses on them [16]. Irshad and Dr.Sathyadevi (2015), state that poverty eradication can be possible through microcredit support and improved knowledge of microcredit management.…”

Section: Literature Reviewmentioning

confidence: 99%

Evaluation of the benefits of micro credit: a study with reference to women beneficiaries in Idukki district

Jose¹,

Chockalingam²

2018

IJET

View full text Add to dashboard Cite

Microcredit is a dominant instrument and a sensible attempt of nations to reduce poverty and boost up the development process. When the poor people particularly women get access to credit, they become economically powerful to improve themselves, their family, society as well as the entire nation. It is a revolutionary financial setup for poor people. The importance of microcredit has been proven and many countries adopt this as a powerful instrument to alleviate poverty. Empowerment is a multifaceted process of change which can be experienced by every individual in one way or the other. Financial support through the microcredit to women and their families play a vital task in empowering them. Women can enjoy non-economic benefits along with the economic benefits like increase of self-esteem, social recognition, decision making power, respect from relatives and society. It is necessary to promote many more microcredit schemes in different phases to uplift women to the main stream of life. In this scenario, this paper is an attempt to evaluate the effect of microcredit on women beneficiaries in terms of income generation and asset acquisition. The paper also focuses on how microcredit initiatives affect poor women in terms of economic empowerment and social recognition.

show abstract

Women Empowerment Through Microfinance: Empirical Evidence from Ghana

Cited by 51 publications

References 32 publications

Exploring the Contributions of Microfinance Institutions to the Ghanaian Economy: A Study at Takoradi

Exploring the Contributions of Microfinance Institutions to the Ghanaian Economy: A Study at Takoradi

Assessing the Impact of Operational Flaws on the Performance of Microfinance Institutions in Ghana

Evaluation of the benefits of micro credit: a study with reference to women beneficiaries in Idukki district

Contact Info

Product

Resources

About