Microfinance institutions and economic growth in Uganda : a case study of Kampala District
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Date
2017-07
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Publisher
Kampala International University.College Of Economics and Management
Abstract
This study was set to examine the effect of Micro-financial institution towards economic growth in Uganda Kampala district. It answered three study objectives that included: identify the contributions, examine the challenges facing MFis and relationship between micro frnance and economic growth. Purposive sampling and Random sampling were used in the study, the study applied an explanatory research design. Both interview and questionnaires were used in data collection. Data was analyzed by use of frequencies and percentages and sketchy and generalized summaries of the frndings and conclusion. In addition the study examined the challenges facing MFis that is to say; Difficulty in measuring social perfmmance of MFis had 15 respondents strongly agreed this was indicated by 30%.followed by inadequate funds for MFis to pass on poor. 12 of respondents agreed with it presented by 24%. In conclusion therefore micro financial institutions and economic growth and this could be positively or negatively depending on how it has been done. It was established that resources were in place but there was need for more follow-up by management to ensure the sustainability of MFis and recommendations were; The financial, accounting and reporting procedures need to be enhanced this can be made possible by allowing further training for the staff in the accounts sections and close supervision of the audit department on the activities of accounts and finance through regular audits and checkup.
Description
Research report submitted to the College of Economics and Management sciences in partial fulfillment of the requirements of the award of a bachelor's degree in Business Administration of Kampala International University
Keywords
Microfinance Institutions, Economic growth, Uganda, Kampala District