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Microfinance and Women Empowerment in Madina in Accra, Ghana

Author

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  • Alex Addae-Korankye
  • Alex Abada

Abstract

Among the main objectives of microfinance intervention is to help women entrepreneurs grow their businesses and hence enhance their socio-economic well-being. The study therefore was conducted to assess the effect of microfinance on socio-economic well-being of women (or women empowerment) in Madina in the Greater Accra region of Ghana. The study employed a survey design. By employing purposive, systematic and simple random sampling techniques, interviewer-administered questionnaire was used to collect data from 300 women micro-credit beneficiaries in the Madina in Accra,Ghana. SPSS was used to run regression to examine the correlation between microfinance and profit and hence economic well-being of the women entrepreneurs. It was found that microfinance indeed has a direct correlation with Profit and hence socio-economic well-being of women (women empowerment). Stated differently it was revealed that Microfinance has positively impacted on the women’s Profit, businesses and hence their socio-economic-wellbeing. However, there was a reasonable percentage of respondents who indicated that microfinance has rather made them worse off.

Suggested Citation

  • Alex Addae-Korankye & Alex Abada, 2017. "Microfinance and Women Empowerment in Madina in Accra, Ghana," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 7(3), pages 222-231.
    • Handle: RePEc:asi:aeafrj:v:7:y:2017:i:3:p:222-231:id:1551
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