Effect of Microfinance Services on Women Empowerment in Nyandarua County, Kenya: A Case of Kenya Women Finance Trust Clients
Journal Title: International Journal of Management Sciences - Year 2014, Vol 4, Issue 2
Abstract
Women play a crucial role in the economic development of the society but obstacles like poverty, unemployment, low income and societal discriminations mostly in developing countries have hindered the effective performance of that role and women thus still lack many of the resources available to men , they are faced with inevitable poverty and they also lack empowerment. The study sought to address the effect of microfinance services on women empowerment in Nyandarua County, Kenya. Descriptive research design was used in this study. Clients of Kenya Women Finance Trust (KWFT) formed the population of the study. Primary data was obtained through administration of questionnaires to the target population. Data collected was analysed using descriptive analysis tools, processed by SPSS and information generated presented in form of frequency tables and graphs. The researcher found out that Microfinance institutions (MFIs) through their services have played a huge role in empowering women both economically and socially. The researcher concluded that for women to be more effective in their strategic options for empowerment, they need to invest microfinance credit obtained in profitable business in order to increase the capital and MFIs should also introduce mechanisms to motivate their clients to develop better saving habits. Further recommendations were that the Microfinance institutions give more attention on trainings on the management of the funds to help women make better business decisions.
Authors and Affiliations
Faith Gathoni, Margaret Oloko
Keywords
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