Micro-Finance Institutions and the Welfare of the People A Case Study of Pride Microfinance Limited Kampala, Uganda
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Date
2013-10
Authors
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Publisher
Kampala International University, College of Applied Economics and Management Sciences
Abstract
Micro -Finance is the provision of financial services to the individuals engaged in small
business and those with small needs largely in the informal sector who initially referred to as
the poor.
Micro-finance institutions are major tools in improving the standards of living of the
people. They encourage rural economic development through the provision of small scale
loans which introduce the poor to small enterprise sector. This allows the low-income
earners to be more self-reliant; create employment opportunities for entrepreneurs and
women especially in economic productive activities.
The success of micro finance institutions to change the standards of living of low income
earners in other developed countries like Germany motivated the World Bank to give
donations to the developing Countries due to the prevailing situation of poverty and lack
of essential needs in these countries.
Since mid 1990s, Micro-Finance Institutions in Uganda have gained wide recognition for
the role they play in providing financial services to the low income households and the
their impact on poverty eradication. This recognition is evidenced by the rapid advances
by the Government, Donors, and practitioners in the development and implementation of
programs that support Micro-Finance Institutions initiative in Uganda as well as dramatic
expansion of the microfinance industry.
Description
A Report submitted to the Faculty of Economics and Management Sciences in partial fulfillment of the requirements for the Award of the Bachelors of Business Administration Degree of Kampala International University
Keywords
Micro-Finance