Microfinance and Women’s Empowerment in Sierra Leone | Chapter 10 | Business, Management and Economics: Research Progress Vol. 9

The development of poor communities is contingent upon the interventions of development partners in the affairs of government and non-governmental organizations worldwide. Since it gained prominence with its declaration in 2005 by the United Nations General Assembly, microfinance has been highly noted as an intervention that could help elevate the socioeconomic status of low-income earners and improve their standard of living by providing financial services to enhance development. Financial inclusion and women empowerment are two key focus areas in sustainable development efforts worldwide. This study aims to examine the role of microfinance in women’s empowerment in Bo City, southern Sierra Leone, using BRAC Sierra Leone’s microfinance scheme for market women in Bo Big Market Center as a case study. Questionnaire instruments and interviews were used to collect primary data from 290 respondents, some of whom were microfinance beneficiaries and female business table owners. The collected data was analyzed using simple descriptive statistics and simple correlation and regression analysis. The study revealed that although there are challenges for women to access resources, MFIs have provided options for women to explore in addition to the few other options available to them. Some improvement in psychological well-being and social empowerment among rural women is on record due to their participation in microfinance through the SHG program. However, a significant constraint was the need for more funds to transform their businesses meaningfully. Access to financial resources for women in most deprived communities, like the study area, is a significant challenge for the upward mobility of most women. Furthermore, although the MFIs give loans to all genders, women are often more preferred. In addition to providing microcredits in cash terms, some MFIs also give agricultural products like seedlings and animals to their clients. To guide the economic activities of their clients, some MFIs offer training programs on basic bookkeeping, savings, and accountability lessons.

The study further revealed that although some women seek these loans to start or improve their businesses, they often use a considerable amount of these loans to handle other affairs, like paying school fees for their wards and buying household items. Thus, the services provided by MFIs have significantly enhanced women's ability to start other income-generating activities, increase their chances of contributing to the development of their children, and improve their decision-making stance in their communities.

However, despite the incredible benefits realized from MFIs, these market women face many challenges, including loan diversion and a need for more financial discipline in their businesses. Short repayment schedules and unjustified deductions from the loans expected from MFIs were also significant challenges that were revealed.

Based on all of these issues identified, it was recommended that training programs for both clients and MFI staff must be an integral part of their services. Also, financial discipline must be instilled into the clients to avoid loan diversion, creating a better chance to improve their businesses. Additionally, MFIs are expected to monitor or supervise their clients and businesses by continuously engaging with them on critical elements of their businesses. Finally, the central government must ensure that robust regulations are provided and implemented to govern the operations of MFIs and guide the implementation of interest rates for the clients. The small size of loans, market instabilities, high interest rates, deductions, short loan repayment periods, and too few MFIs in the community are challenges that market women must overcome to enjoy the full potential of these opportunities.

 

Author (s) Details

Abdulai B. Dumbuya
Department of Economics, Njala University, Sierra Leone.

 

Ibrahim Munu
Department of Sociology and Social Work, Njala University, Sierra Leone.

 

Please see the book here:- https://doi.org/10.9734/bpi/bmerp/v9/3257

The Role of Microfinance in Driving Economic Growth and Financial Inclusion in India | Chapter 29 | Leading the Charge: A Guide to Management, Entrepreneurship and Technology in the Dynamic Business Landscape Edition 1

Finance is the foundation of the economic development of a country. Financial activities contribute to the growth of a country’s economy. India has transformed the entire financial sector with the introduction of inclusive finance, digitization and other regulations and has become an excellent financial service provider. However, it is still difficult to popularize rural finance practices. Microfinance is crucial in addressing the financial requirements in backwoods communities. It is also instrumental in the emergence of Self-Help Groups (SHGs), small business owners and new entrepreneurs. Microfinance integrates the financial services system by identifying its target customers and preparing financial products according to the exigency of the unorganized sector. Presently, microfinance has grown by 21% in FY2023 (FY2023) compared to FY2022 (FY2022). This study focuses on the play of microfinance in providing adequate finance to various sectors of the unorganized sector in India and facilitating economic growth.

 

Author (s) Details

 

Dhanalakshmi C
Acharya Institute of Technology, Bengaluru, India.

Rohith B
Acharya Institute of Technology, Bengaluru, India.

 

Bhavya V M
Acharya Institute of Technology, Bengaluru, India.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48859-98-3/CH29

Exploring the Challenges of Rural Women in Availing Bandhan Microfinance in Tinsukia District of Assam, India | Chapter 6 | Current Topics on Business, Economics and Finance Vol. 8

 The present paper is an attempt to recognize the problems met by the rural wives in availing Bandhan microfinance. Microfinance is a modern form to fight against poverty for the happening of rural fields. Microfinance is also known  as  data processing machine-credit  and  it  offers  loan,  savings  and  protection  to  entrepreneurs,  small  trade  owners  the one unlikely to get loan from the established source like banks.  The study was administered in Margherita sub-division, Tinsukia district of Assam all along the period of June, 2021–July, 2021 and the study design selected was exploratory cum descriptive. For, the study thirty percent groups were picked from each selected Bandhan Banking part. Thus, 108 members of Bandhan groups were picked for the study as respondent. An interview schedule was prepared forming statements concerning problems confronted by the rural daughters in availing the Bandhan microfinance services. According to the judgments, the most common question encountered by accused when seeking microfinance services was a short reparation period, a lack of clearness about the interest rate, and credit expenditure on offspring crisis. Bandhan microfinance concede possibility also provide elementary business instruction to train these rural women for fear that they can learn by virtue of what to run a business. Inclusion of family appendages as co-applicant exceptionally husband is recommended for trouble free use of loan and reimbursement. It can be decided from the study that the respondents faced questions after availing the microfinance aids which needs to be gave.

Author(s) Details:

Inameeka Baruah,

Department of Extension and Communication Management, College of Community Science, Assam Agricultural University, Jorhat-13, Assam, India.

Mayuri Bora,

Department of Extension and Communication Management, College of Community Science, Assam Agricultural University, Jorhat-13, Assam, India.

Manoshi Baruah Deka,

Department of Extension and Communication Management, College of Community Science, Assam Agricultural University, Jorhat-13, Assam, India.

Please see the link here: https://stm.bookpi.org/CTBEF-V8/article/view/11332

Bandhan Microfinance: A Catalyst for Empowerment of Rural Women Case Study from Tinsukia District of Assam, India | Chapter 5 | Current Topics on Business, Economics and Finance Vol. 8

 The present study has existed carried out accompanying the objective of studying the socio-economic rank of the respondents and for resolving the impact of Bandhan Microfinance on empowerment of country women after availing the microfinance duties. Economic   independence   grant permission   be   one   of   the significant mainstays for paving the habit for women authorization.  However, it is not very easy for the   rural   daughters   to   get   services   at   hand. Borrowing loan from bank is a complex process for the girls due to many factors containing lack of collateral and formalities of many paper everything. The study was conducted in Tinsukia region of Assam with 108 respondents. Margherita Sub-division, was intentionally selected from what or which place two Bandhan banking wholes i.e., Banking Unit, Digboi and Banking Unit, Margherita was included. Results of the study granted that large allotment (71.29%) respondents belonged to medium socio-economic level. The judgments also told that there was important improvement in economic, cognitive, personal and socio-educational empowerment of wives after availing loan from Bandhan Microfinance.  Because of the credit facilities presented to them, the most of respondents were energetically involved in various revenue-generating projects. It can be pronounced that Bandhan microfinance has played a crucial act in empowering the wives because they were able to undertake a variety of pay-generating projects that aided in their empowerment. When equating the level of empowerment of country women before and following in position or time using Bandhan Microfinance services in the study extent, a significant impact was noticed.

Author(s) Details:

Inameeka Baruah,

Department of Extension and Communication Management, College of Community Science, Assam Agricultural University, Jorhat-13, Assam, India.

Mayuri Bora,

Department of Extension and Communication Management, College of Community Science, Assam Agricultural University, Jorhat-13, Assam, India.

Manoshi Baruah Deka,

Department of Extension and Communication Management, College of Community Science, Assam Agricultural University, Jorhat-13, Assam, India.

Please see the link here: https://stm.bookpi.org/CTBEF-V8/article/view/11331

Microfinance, a New Way for Financial Capital: A Case Study of Self Help Group in Thane| Chapter 10 | Current Aspects in Business, Economics and Finance Vol. 6

 The word "microfinance" has win widespread acknowledgment today and is frequently used to concern financially sustainable want reduction. However, few contend that by turning weak people into credit slaves, it makes their lives even more tricky. India has the largest number of clients connected with allure microfinance sector of some country in the world, so it is important to examine the quality concerning this expansion. Microcredit has happened blamed for suicides in India: Aggressive lending by microcredit parties in Andhra Pradesh is said to have developed in more than hundred end of life in recent years. Most of the weak are in deep trouble on account of these loans &Poor people are delivering suicides because of peer pressure of the organizations for compensation. Hence Few research studies suggested Micro-credit has happened changing population's lives and revitalizing communities.The beginning driving force behind this research search out comprehend and try the actual microfinance sketch, including its results, demands, and effects on the environments of individuals in the Thane district. The goal of this study search out propose the invention of a successful microfinance scheme that will benefit the poor in Thane. Need for MF research is due to the evidence that despite important growth of microfinance, more weak people in India (THANE) now than always before those are not getting stiff financial help. The researcher is interested to study SHGs offering in Thane Area. Microfinance in Maharashtra is still young industry.By seeing the challenges for MFIs, the article met on the need issues in implementation and impact. The paper utilizes dossier from a survey of clients, the Crisil table, and other MFI partners collected by the poet between 2016 and 2021 to test the affect the lives of people in Thane. Finally, an attempt is created using econometric techniques to outline the role of MF partnership in poverty relief in a specific area, professed a correlation betwixt income, diameter, SHG groups, MFI contribution, and poverty level in Thane. Another goad was the desire to investigate basic facts, evaluate bureaucracy, and provide various resolutions in MF.

Author(s) Details:

Smita Sudhir Jape,
Dr. V. N. Bedekar Institute of Management Studies, India.

Please see the link here: https://stm.bookpi.org/CABEF-V6/article/view/8794

The Effect of Microfinance on Human Capital Development in Ghana: A Cross-sectional Study of Sinapi Aba Trust Microfinance Beneficiaries in Ashanti Region | Chapter 7 | Selected Topics in Humanities and Social Sciences Vol. 3

 In order to eliminate poverty in Ghana, this chapter provides empirical evidence on how microfinance services help to the development of human capital. Microfinance organisations provide services that help beneficiaries increase their incomes and consumption levels while also reducing income inequality. Microfinance institutions provide chances for investment in the development of human and social capital assets through their services. In 2012, data was collected from 361 Sinapi Aba Trust (SAT) microfinance recipients using a cross-sectional strategy that included both quantitative and qualitative instruments. Microfinance programmes enabled clients to increase their human capital assets, according to the findings. It was also revealed that, in addition to loan disbursement, SAT contained education programmes that helped beneficiaries improve their outlook. It was acknowledged that SAT services provided training for creating awareness and sensitization through seminars to enlighten beneficiaries about current concerns that were development oriented for beneficiaries and their families. The research Others suggested that the government, sponsors, and management of microfinance institutions work together to mobilise resources for beneficiaries' human capital development.

Author (s) Details

Ernestina Fredua Antoh
Bureau of Integrated Rural Development (BIRD), Kwame Nkrumah University of Science and Technology (KNUST), PMB UPO Kumasi, Ghana.

John Victor Mensah
Institute for Development Studies Development (IDS), University of Cape Coast (UCC), Ghana.

Sampson Enyin Edusah
Bureau of Integrated Rural Development (BIRD), Kwame Nkrumah University of Science and Technology (KNUST), PMB UPO Kumasi, Ghana.

View Book :- https://stm.bookpi.org/STHSS-V3/article/view/2297

Women Entrepreneurship and Poverty Alleviation: An Empirical Reviews| Chapter 2 | Selected Topics in Humanities and Social Sciences Vol. 3

 Poverty reduction became a top priority in improving socioeconomic conditions. It has become a major objective and priority for both developing and rich countries. By fostering income-generating initiatives, providing amenities to improve the quality of life, and developing programmes to instil positive values among the poor, the government continues to take a leadership role in poverty eradication efforts. The goal of this study is to determine the determinant factors. Women's entrepreneurship contributes to poverty alleviation. The respondents in this study were 300 female entrepreneurs who ran their businesses in three different Malaysian states. SPSS 23.0 was used to analyse the data. According to the findings, microfinance has a major impact on poverty alleviation. In a summary, it was stated that microfinance programmes are becoming more important as a primary source of new job possibilities and income generation for improving the social and economic condition of the poor and eradicating poverty.

Author (s) Details

Dr. Nik Syuhailah Nik Hussin
Entrepreneurship & Business Faculty, Universiti Malaysia Kelantan, Malaysia.

Zuraimi Abdul Aziz
Entrepreneurship & Business Faculty, Universiti Malaysia Kelantan, Malaysia.

View Book :- https://stm.bookpi.org/STHSS-V3/article/view/2292

Advanced Study on Gender Based Utilization of Microfinance: An Empirical Evidence from District Quetta, Pakistan | Chapter 6 | Insights into Economics and Management Vol. 12

 During the year 2011, this study looked at the influence of microfinance on the gender-based income-generating activities of Khushhalli Bank Ltd clients in the Quetta urban zone. The primary data was acquired from 80 clients (60 beneficiaries and 20 non-beneficiaries) using a structured questionnaire and a cross-sectional experimental methodology. T-tests were used to assess the data that had been collected. In terms of increased company performance, the data reveal that microfinance has a beneficial influence on both male and female beneficiaries when compared to non-beneficiaries. It has no effect on the average sale revenue of both male and female microbusiness owners. While it has a considerable impact on male established micro-entrepreneurs' average net profit, average fixed assets, and average net worth, it has no effect on female established micro-entrepreneurs. When comparing gender-based company performance, it is clear that male-owned microenterprises are able to create higher revenue and net income. The same results are reached when fixed assets and net worth are increased. As a result, we can certainly state that male clients are better able to use microfinance services than female clients.

Author (S) Details

Prof. Abdul Naeem
Department of Management Sciences, Mir Chakar Khan Rind University, Sibi, Balochistan, Pakistan.

Dr. Sana-ur-Rehman
Department of Business Administration, NFC- Institute of Engineering and Technology, Multan, Pakistan.

View Book :- https://stm.bookpi.org/IEAM-V12/article/view/2072

Microfinance Loan Default in Sri Lanka: A Case Study of Matugama Division | Chapter 14 | Insights into Economics and Management Vol. 1

 

The goal of this study is to explore the factors influencing the default of microfinance loans in the Matugama Division, Sri Lanka. A deductive and a quantitative strategy were both employed. 5 Likert-scale developed a standardised questionnaire. Using convenient sampling, questionnaires were distributed among 133 microfinance loan borrowers in the Matugama region. The exploratory factor analysis was performed using SPSS version 22. Three factors helpful in understanding the default of microfinance loans in Sri Lanka were verified by the results of this report. These are the actions of the Microfinance Institute to govern the defaulting of loans; the features of the family and loan community of borrowers; and macroeconomic issues. Managers of Microfinance Institutes may use the results of this study to monitor their credit risk and customer portfolio. Such policy consequences, such as access to the Sri Lankan Credit Information Bureau, access to consumer credit history, and access to credit history There are few of them in government decisions directing Microfinance Institutes to seek securities from their clients.

Author (s) Details

Dr (Mrs) E. A. G. Sumanasiri
Department of Commerce, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura, Sri Lanka.

Mr. D. T. Priyankara
Department of Commerce, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura, Sri Lanka.

View Book :- https://bp.bookpi.org/index.php/bpi/catalog/book/276