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Microfinance and the Socio-economic Wellbeing of Women Entrepreneurs in Ghana

Author

Listed:
  • Smile Dzisi

    (School of Business and Management Studies, Koforidua Polytechnic, Ghana, West Africa)

  • Francis Obeng

    (JMB Consult, Suhum, Koforidua, Ghana, West Africa)

Abstract

Microfinance has been touted as a means of improving the lives of the poor and the provision of funds for business enterprises. This study examines the impact of microfinance on the socio-economic lives of women entrepreneurs in Ghana. Using Ghana as the study area, this paper provides valuable insights into micro financing in a developing economy context. A multi-method approach was used in data collection and analysis. Eight hundred and forty (840) women beneficiaries of microfinance loans were surveyed; and interviews conducted with 35 of them. The overall results suggest that the women’s enterprises have expanded while their socio-economic status has improved tremendously after taking the loans. It is, however, recommended that microfinance institutions provide education in finance management for their clients, since only few of them undertakes such an exercise.

Suggested Citation

  • Smile Dzisi & Francis Obeng, 2013. "Microfinance and the Socio-economic Wellbeing of Women Entrepreneurs in Ghana," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 3(11), pages 45-62, November.
    • Handle: RePEc:mir:mirbus:v:3:y:2013:i:11:p:45-62
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    References listed on IDEAS

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    1. Smile Dzisi & Francis Obeng, 2013. "Microfinance and the Socio-economic Wellbeing of Women Entrepreneurs in Ghana," International Journal of Business and Social Research, LAR Center Press, vol. 3(11), pages 45-62, November.
    2. Buckley, Graeme, 1997. "Microfinance in Africa: Is it either the problem or the solution?," World Development, Elsevier, vol. 25(7), pages 1081-1093, July.
    3. Mark M. Pitt & Shahidur R. Khandker, 1998. "The Impact of Group-Based Credit Programs on Poor Households in Bangladesh: Does the Gender of Participants Matter?," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 958-996, October.
    4. John Creedy, 2008. "Research Without Tears," Books, Edward Elgar Publishing, number 13080.
    5. Egyir, Irene Susana, 2010. "Rural Women and Microfinance in Ghana: Challenges and Prospects," 2010 AAAE Third Conference/AEASA 48th Conference, September 19-23, 2010, Cape Town, South Africa 95782, African Association of Agricultural Economists (AAAE).
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