The impact of micro-financing on the empowerment of women in Ghana:A Case Study of Akad Microfinance

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JULY, 2015
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The research focused on the impact of micro-financing on the empowerment of women in Ghana. The specific objectives of the study were to assess the level of satisfaction with regards to micro-finance services to women, determine challenges that women face in accessing loans from financial institutions, assess the extent to which micro-finance can be a tool for poverty alleviation among women, identify the constraints encountered by the micro-finance industry in poverty alleviation and how best they can be resolved. A survey as a sampling technique was used to select the sample. Questionnaires were used to get the response of the respondents. Descriptive statistics was used for the study. It was revealed from the analysis that AKAD microfinance empowers women in several ways. It has helped most of them build successful business yet there are some challenges that face the women in accessing loan from AKAD microfinance. Some of these challenges are high interest rate, lack of collateral and short payback period. It also came to light that the reason why most of the women were refused loans was lack of trust. From the study, strategies of improving access to loans in reducing poverty among women were reduction of interest rates, relaxing the conditions of loans and increasing payback period.
A thesis submitted to the School of Business, Kwame Nkrumah University of Science and Technology (Knust) in partial fulfillment of the requirements for the degree of masters in business administration, Finance option.