The impact of microfinance institutions on the economic empowerment of women: a case study of Wajir County, Kenya

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Kampala International University, College of Economics and Management
This study was conducted in Wajir County to examine the impact of microfmance institutions on women empowerment. The objectives of the study were to examine the impact of microfmance on women's incomes, to fmd out other economic benefits of microfinance to women and to identify the challenges hindering microfinance as a tool of women empowerment. A review of relevant literature was done and compared with the study fmdings. The study was descriptive and cross-sectional in design and the researcher employed qualitative an~ quantitative approaches for data analysis. The study noted that microfmance improves women's income levels. It also noted a number of benefits which women benefit from participation in microfinance programmes which are improved confidence to daim for political and legal rights, ir.creased decision making power, reduced domestic violence and workload, more participation in politics, and increased asset ownership rights among others. However, the study revealed that although microfmance has been successful in empowering women; it is still hindered by many hindrances. The study concluded that microfinance institutions play a major role in the empowerment through improving women's income. The study recommended that MFis should reduce interest on loans advanced to women, that the management of MFis should train women in loan management programs, and that management should the increase the size of loans advanced to women and women entrepreneurs.
A research report submitted to the School Of Business and Management in partial fulfillment for the Award of a Degree of Bachelor of Business Administration at Kampala International University
Economic empowerment, Women, Microfinance institutions