Microfinance as a Mechanism for Women Empowerment: A Case Study of Techiman Municipality in Ghana

Romanus Dinye; Irene Dinye

Microfinance as a Mechanism for Women Empowerment: A Case Study of Techiman Municipality in Ghana

Romanus D. Dinye * §

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Irene Nora Dinye ‡

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§ Centre for Settlements Studies, Kwame Nkrumah Univer...

‡ Institute of Development Studies, University of Cape...

Microfinance as a Mechanism for Women Empowerment: A Case Study of Techiman Municipality in Ghana

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Abstract

This paper seeks to make an informed contribution to the ensuing debate on the real significance of microfinance as a strategic instrument for poverty reduction with particular reference to the empowerment of women in developing countries. Most women in these countries are faced with certain challenges which hinder the realisation of their full potential of capabilities. After a review of pertinent literature on microfinance and women empowerment, inferences are drawn for subsequent conclusion from a case study of women involved in the operations of the Opportunity International Savings and Loans Limited (OISL), a microfinance institution in the Techiman Municipality in Ghana. A census survey of the target group was intended but the practical realities of capture covered a high of 90 out of the total of 116 women beneficiaries representing a coverage of 77 percent at confidence level of 95 percent with an acceptable 0.05 margin of error. Market women who benefited from the company’s microfinance Trust Group Lending Programme are empowered through the Opportunity International Savings and Loans Limited’s microfinance programme not only in the areas of their businesses, but at household as well as at their group and therefore community levels. Nevertheless in the event, the men’s contribution to the household expenditure decreased with the realisation that their women counterparts earned more income and were able to cover much of the household’s expenses. The use of the weekly repayment schedule by Opportunity International Savings and Loans Limited’s programme tended to be inconvenient since the business cycles of the women differed. The interest rate of 41 per cent charged by lending group was adjudged by the respondents as high. For effective and sustainable services’ delivery, the Company required pertinent information on the needs of the market women so as to design products to meet the specific requirements. An arrangement of flexible loan repayment schedules for the market women will make the programme more productive and attractive to them. Opportunity International Savings and Loans Limited should also explore the possibility of family business loans delivery services to encourage cooperation between the husbands and wives.

References

20 Cites in Article

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Romanus D. Dinye, Irene Nora Dinye. 2013. "Microfinance as a Mechanism for Women Empowerment: A Case Study of Techiman Municipality in Ghana". Global Journal of Human-Social Science - C: Sociology & Culture GJHSS-C Volume 13 (GJHSS Volume 13 Issue 34 (C4)).

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GJHSS Volume 13 Issue 34 (C4)

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Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

Keywords

Development Microfinance Poverty Reduction women empowerment

Classification

GJHSS-C Classification FOR Code: 160899

Submission ReceivedDecember 13, 2012
Peer Review Double Blind
Handling Editor
Accepted January 3, 2013
Published August 7, 2013

Version of record

v1.2

Issue date

August 7, 2013

Language

English

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Article Matrices

Total Score: 102

Country: Ghana

Subject: Global Journal of Human-Social Science - C: Sociology & Culture

Authors: Romanus D. Dinye, Irene Nora Dinye (PhD/Dr. count: 0)

View Count (all-time): 373

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Publish Date: 2013 07, Wed

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