The effects of microfinance on poverty reduction: a case study of Dunkwa central market women
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Date
2008
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Abstract
The concept of micro-finance has emerged as a potential solution to the financial insecurity of the economically disadvantaged since the early 1970s. Microfinance Institutions have made the provision of sustainable livelihoods to local communities a major activity. One of the mechanisms is through the distribution of micro-credit therefore, it is important to determine the impact of micro-credit on the livelihood of beneficiaries in the local communities and make suggestion to improve the scheme.
The objective of this study was to evaluate Micro financing as an instrument, for poverty reduction market women at the Dunkwa central market. This study has been conducted to evaluate the actual contributions of micro finance institutions to the Dunkwa Central Market women in order to improve the livelihoods of the inhabitants of the area.
Micro-finance gives households the ability to manage household emergencies, build assets and reduces their vulnerability to crises. A sample size of 50 respondent traders were selected from the market, considering the various types of wares the dealt in on the market.
The study focused on the market women in the study area, enhancing the poverty alleviation potential of small firms through financial, regulatory and managerial assistances will eventually reduce dependency on foreign market. This will not only save foreign exchange but also reduce the impact which fluctuations of foreign exchange receipts will have domestically.
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A thesis submitted to KNUST School of Business in partial fulfillment of the requirement for the award of Master of Business Administration